5) There was no stable regime where parameters worked consistently, requiring frequent market adjustments.
6) More subtle, the system's inability to find equilibrium meant the initial objective—fair pricing of LP embedded volatility—may not be attainable.
7) On the "degen convexity" gamma exposure side, and considering the memecoin wave, it seems to make sense to try to just add more convexity to memecoins themselves, remains to be seen this is long term*