@abcampbell ELI5 is not easy but it's this.
Imagine that currently 20/80 pool has p=1.07 at A=50. If A ramps to 25 AND pool stays 20/80, price will pump to 1.14.
Then someone who's waited on sidelines can mint and sell to the pool. Then, when pool rebalances in future, LPs appear in loss
@abcampbell ELI5并不容易，但就是这样。
假设当前20/80池在A=50时p=1.07。如果价格上升到25，而游泳池保持在20/80，价格将升至1.14。
然后，那些在场外等待的人可以造币并出售给泳池。然后，当池未来重新平衡时，有限合伙人出现亏损