Recently, I saw someone say "just throw it into the pool and lie there collecting fees," and I want to remind them with a spatula: the curve of the AMM is the key, when the price deviates, your position is automatically flipped, and in the end, you might end up with less "meat"—this is impermanent loss. To put it simply, it's not about profit or loss, but about changing the asset ratio. Fees are like salt; the more you sprinkle, the tastier, but no matter how much salt you add, it can't save a burnt pot.

By the way, I want to complain that some say the labels on on-chain data tools are lagging or misleading. I'm increasingly hesitant to just follow the "smart money" signals when placing orders… It’s better to think a few steps ahead: before and after entering the pool, withdrawal timing, whether there’s been back-and-forth testing, and having a good sense of the situation yourself.
Anyway, market making isn’t about lying around earning passively; it’s more like watching the stove and staring at it all night.