Just now, I almost redeemed my LP and accidentally clicked “add liquidity.” I also copied the wrong address—my palms went cold… Anyway, you really can’t stay distracted with this kind of operation. Market making isn’t as simple as clicking once and lying back to collect fees.

A lot of people look at the AMM curve and think, “Price fluctuates back and forth, so I profit on both sides.” But the curve’s meaning is actually pretty straightforward: you’re passively swapping in proportion. When it goes up, you sell; when it goes down, you buy back. By the time you want to exit, you realize you end up with more weaker assets and fewer stronger ones—impermanent loss shows up just like that. Whether the fees can cover it all depends entirely on the face of volatility and trading volume.

Recently, Meme coins and celebrity calls have been coming one wave after another, and attention rotates so fast it’s ridiculous. Newcomers easily end up becoming “the one who’s working for the pool”… Right now, I’m watching on-chain capital flows and sentiment turning points. If I miss it, I miss it—I won’t go catch the last wave. That’s it for now.