This is the third time I've seen someone treat "throwing some coins into the pool = sitting back and collecting fees" as a form of investment... The AMM curve isn't charity; when the price moves, your position is passively bought and sold. Impermanent loss, in simple terms, is "it didn't keep up when prices rose, and you still got garbage when they fell." In the end, you realize that the fees can't even make up for it. Especially recently, with meme coins coming one after another and celebrities casually mentioning them, attention shifts quickly. Newcomers rush in to become LPs, which is basically voluntarily standing next to the last runner. Anyway, when I look at pools now, I focus first on volatility and depth, then on fees—don't treat market making like a savings account.