These days I've been looking at the AMM curves again, and the more I watch, the more I realize that "market making = passive income" is just an illusion. When the price deviates, your position is smoothly shifted along the curve to the falling side, fees look like income, but after calculating impermanent loss, all the profits are wiped out. To put it simply, it's about using volatility as food but still having to pay tuition. Now, with airdrop season and task platforms turning into anti-witchcraft, and points systems turning profit hunters into clock-in workers, my partner even complains, "You, the gardener, trimming your position, need to do KPIs first, right?"... Anyway, I now prefer a layered approach: use a stable pool as the base, small positions in volatile pools to test the waters, accept losses and withdraw if it runs away, survive first, then talk about profits.