I used to really think that just throwing my funds into the pool would let me sit back and collect fees, but I was educated by the AMM curve... Once the price moves, your position is quietly shifted by the curve into the "slower-growing side," essentially impermanent loss is just you thinking you're holding coins, but in reality, you're passively doing the opposite of buy low and sell high. The crazier the market gets, the more it stings.

Actually, now the staking and shared security yield stacking are causing quite a bit of noise. It looks a bit like packaging the "small fee benefits" as multiple layers of cream; anyway, the risk hasn't disappeared, just taken on a more complicated form. Market making is really not a get-rich-quick scheme, especially for someone like me who tends to be impulsive—it's better not to treat instant noodles as a full-course feast.