Over the past couple of days, I went and tried a few more L2 pools, and while I was at it, I did a quick review of that AMM curve… Put simply, when you dump your coins into a pool, you’re basically agreeing to “auto-rebalancing no matter whether prices are going up or down.” If the price deviates, you end up passively selling off / getting caught picking up the slack. And by the time you want to withdraw, the impermanent loss is just sitting there waiting for you—so it’s really not as simple as lying back and collecting fees. Especially when the market suddenly goes haywire, the fees may not even keep up with the amount of loss you’re taking.

Right now, on-chain data tools and labeling systems still get criticized all the time for being delayed, and even for being able to mislead people. So I don’t feel comfortable making conclusions just by staring at dashboards; it feels more solid to go on-chain and check a few transactions and the changes firsthand. I’m more like a runner who goes out to test and experiment with things, rather than a calm, steady investment professional… That’s it for now—I'll circle back and add more to my list of pitfalls later.