One of my higher-risk experiments really surprised me. I opened a NET/USDG V4 liquidity position on Uniswap as a small test, knowing it carried more risk than the blue-chip pools I had been working with. In roughly 48 hours, the position generated fees equal to about 44% of my original investment. The part I’m most encouraged by is that this wasn’t just a crazy displayed APR on the screen. Those were actual fees earned and collected. The position briefly moved out of range, converted heavily into USDG, and then moved back into range, so there has definitely been volatility along the way. But that is also part of what has made the pool productive. My biggest takeaway: Displayed APR gets your attention. Realized ROI tells you whether the strategy is actually working. Still a higher-risk position and definitely not something I would size aggressively, but this has been a really interesting example of why it can be worth looking deeper at volume, fee structure, pool version, and actual trading activity instead of simply chasing the highest APR. Definitely one I’ll keep studying.