The group is again sharing images of "a certain stablecoin losing its peg" and "reserve audits being opaque." I find it exhausting to look at all of them. Don't get too emotional first; ask yourself: what are you pairing in your pool? If something really goes wrong, who will be drained of liquidity first?

Back to AMM, the curve is not just for show; it’s telling you: when the price moves, you are forced to buy low and sell high, and the fees earned often just serve to cover impermanent loss. Market making is not a get-rich-quick scheme, especially with volatile trading pairs—slippage plus being targeted by predators, profits leak like water.

I treat complexity as an enemy: don’t dream of "just putting it in and earning," first calculate if you can withstand the worst-case scenario, then decide whether to make that move.