Recently, I saw someone compare AMM market making to "lying down and collecting fees," and I couldn't help but sigh... Essentially, that thing about curves is just that when the price moves, your position structure passively changes. When prices go up too much, you end up selling too quickly; when they drop too much, you buy in deeper and deeper. Impermanent loss isn't some mystical concept; it's just math standing right there.

Not to mention, now with some places talking about increasing taxes or tightening compliance, the expectations for deposits and withdrawals change. Everyone's sentiment becomes more prone to stepping on the gas pedal. When volatility spikes, LPs see the fees as quite attractive, but after a quick calculation, their net value might actually be worse off than just holding the coins.

My own simple method to avoid impulsive trades: first, check the routing and slippage, then forcibly wait two minutes. During that time, look at the pool depth and the source of the price difference. Only confirm if you can clearly explain "why I must trade now / why I must swap." Otherwise, just treat it as if today's opportunity didn't exist... stay calm and steady.