Just checked my positions and found an LP pair I previously lost on Uniswap. The price moved a bit more than usual, and the impermanent loss basically wiped out half of my monthly earnings. Market making is definitely not “set it and forget it.” That AMM curve thing—put simply—once the prices on both sides deviate, you end up passively taking the other side’s position. A lot of people think once you add liquidity you can just collect fees, but when real volatility hits, your principal shrinks faster than the fees you accumulate. Lately there’s been a lot of noise about NFT royalties—creators’ income getting tangled up with secondary liquidity—but at the underlying level, it’s the same logic: liquidity providers aren’t doing charity, and nobody wants to work for nothing. As for me, I’m more of a slow-heat type, so I’ll just keep watching the on-chain moves of the big holders and wait until the direction becomes clear. For now, that’s it—I’ll check tonight whether I should swap some of the NFT in my wallet for ETH.