Just snacking on chips while browsing the chain, I suddenly remembered the AMM curve: when the price moves, the asset ratio in the pool changes accordingly, in simple terms, you're "automatically buying low and selling high," sounds pretty good, but if the market is trending in one direction, you'll find that impermanent loss is not so impermanent... Market making is really not just lying around collecting fees. Recently, everyone has been interpreting ETF capital flows, US stock risk appetite, and crypto market fluctuations as a whole, and I find it a bit theatrical: a wave of macro sentiment immediately triggers calculations on the other side of the curve. There are many tutorials, but I actually prefer those that break down a specific swap path for you, explaining clearly in layman's terms why it follows that route, at least to have a sense of it. Anyway, before I put funds into a pool now, I ask myself: if it trends in one direction, can I accept the pool "rebalancing" my position?