Understand the hidden trade-off behind fees and pools - so liquidity never surprises you.
Impermanent loss isn’t a mistake. It isn’t a penalty. And it isn’t something that only happens when you “do it wrong.” It’s a structural result of how liquidity pools work when markets move.
This course walks you through impermanent loss step by step - not as a formula, but as a system behavior. You’ll see what happens inside a pool when prices change, why your token balance shifts, and how that differs from simply holding assets outside the pool.
By the end, impermanent loss stops feeling mysterious or unfair. It becomes a known trade-off - one you can evaluate calmly.
Skip this course, and liquidity feels unpredictable. Take it, and liquidity becomes a choice you understand.
What You’ll Learn (to understand the trade-off):
What you’re actually entering when you provide liquidity The rule that reshapes your position automatically How divergence creates misalignment over time When impermanent loss is small - and when it grows quickly Why people still choose to provide liquidity, despite the cost
What you gain isn’t avoidance - it’s agency. You understand what you’re trading off, before you trade.
They run in order, and each one opens when the quiz before it is passed. A dot marks a lesson that ends in a quiz.
Signed in, the ones you have finished are ticked and the next one is the one that opens. Signed out, the course starts at the first lesson.
This is course 3 of 4 on that route. Finish all 4 and the path pays 450 $KODEX.