LP Regime treats deployment like a decision gate. The gate is not “APR.” The gate is structure.
LP ON means the market is behaving in a way that allows ranges to function. LP OFF means the market is behaving in a way that punishes ranges regardless of how attractive yield appears.
LP ON does not require predicting direction. It requires observing behavior: acceptance, controlled breaks, and sufficient time-in-range.
LP OFF is not a call that price will go down. It is a call that the environment is currently hostile to range-based fee capture.
Most LP mistakes are not caused by bad math. They are caused by deploying into the wrong regime. A decision framework exists to prevent forced deployment when structure says “no.”
Yield is not a reason to deploy. Yield is what you earn after the environment permits deployment.