Recently, someone told me, "Just throw it into the pool and you can earn fees passively," and I found it both funny and a bit frustrating... The curve of AMM is basically just an automatic counterparty, sometimes the fees you earn are wiped out by impermanent loss, and during sharp rises or falls, it feels like working for the market without getting paid. It's even more obvious in a bear market; when the spread widens, the asset ratio in the pool becomes awkward, and when you withdraw, you realize you're not getting back the original set.

There are also social mining, fan tokens, "attention is mining," which are quite similar in logic: it looks like earning, but in reality, it's just pushing volatility and emotions onto you to take over. Anyway, I only dare to test the waters with small positions in market making now; whether I earn or not is up to fate, just trying to stay alive.