Some of you asked about the "Cake Strat", so here it goes.
First of all, the real name is "Layer Cake". It was created by
@MichaelZogot and you should really give him a follow. Read his posts and watch his videos. He's an expert on LP.
This strat is quite simple, just imagine several layers of a cake!
Open a Bid Ask position with a wide range, normally 73/74% (white lines). Then, when you achieve 50% of that range, open a new Bid Ask position, with the same range, but double the size of the position (yellow lines).
Normally you will only need to create two layers, but it could go to the third.
This way, you are basically creating several layers, and the layer below is compensating the IL of the layer above.
Of course you can't do it forever, so close it when you're happy with the profit. Don't let the greed get you!
Important, it also depends of the token of course, so make sure you choose well. For that matter, I use the filters from
@EvilPanda, another expert on LP, so follow him also.
Good luck and may the print gods be with us!
@met_lparmy