Recently, I've seen people treat AMM as "deposit and earn interest," which makes me want to laugh and also feel a bit worried for them. Curve, simply put, is automatically adjusting positions according to price movements; whether prices go up or down, you're constantly swapping. When a unidirectional market hits, impermanent loss is no longer "impermanent," and the settlement moment really hurts. Especially now, with testnet incentives and tokenomics expectations at an all-time high, everyone is guessing whether the mainnet will issue tokens. Liquidity floods in, slippage and fees look attractive, but don't forget you're holding a basket of volatility.

What I don't regret is: before adding to a pool, I always make sure whether I want to earn fees or gamble on token prices. Mixing them up can easily mess with your mindset. Anyway, I keep watching lending pools and whale collateral changes, avoiding emotional trading as much as possible.