I find that whenever it's airdrop season, I get especially itchy: watching others' screenshots of points steadily increasing, afraid that I might miss out, my mind automatically defaults to "participation = guaranteed profit"... As a result, I dive headfirst into AMM pools only to realize that market making isn't just about sitting back and collecting fees. When the price moves, the pool automatically rebalances according to the curve; by the time you withdraw, the amount of coins has increased but the valuable part has decreased, impermanent loss is pretty sneaky. Plus, now the task platforms are so strict about anti-witchcraft measures that it feels like clocking in at work, and the fees might not even cover the cost of the trouble. Anyway, I now deliberately reduce my market-making positions to leave some room for mistakes.

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