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Verify each token and its contract. Ask what could happen if your LP position ends up holding only one token. A familiar name or attractive APR does not answer that.
State the action you intend: swap, deposit, collect, or withdraw. Compare it with the wallet request and final receipt. A success banner alone does not confirm the right action.
Add the remaining token value and separate rewards, then subtract costs. Do not add a reward again if it is already included in the position’s value.
ILLUSTRATIVE EXAMPLE
Start with $1,000. Later, the deposited assets are worth $970, separately earned fees are $12, and costs are $5. Assume no other rewards.
$970 + $12 − $5 = $977. That is a $23 loss from the starting dollar value, even though the position earned fees.
Key idea: A checklist or audit can help you review risks. Neither proves that a deposit is safe.
Begin with asset risk: what are the tokens, which contracts represent them, and what would it mean to end up holding only one? Next examine the pool mechanics, then contract and permission risks. A familiar ticker or positive fee estimate does not answer those questions.
Write down the intended action before signing: swap a stated amount, deposit into a named range, collect earnings or remove a specified share. Compare that intention with the wallet request and then with the transaction receipt. This catches a different class of mistake than simply looking at a green success banner.
Use the same measurement period and starting assets when reviewing performance. Include the tokens remaining in the position, fees received or still claimable, emission quantities and costs. Do not count the same reward once in position value and again as an extra balance.
A learning checklist records what you reviewed. It is not proof that a transaction was executed, that the market assumptions are correct or that a position is safe. Published audit reports likewise address a defined scope and version, with findings and limits that need to be read.
An illustrative position begins at $1,000. At review, its principal is worth $970, separately accrued fees are worth $12 and total costs are $5. Assume no other rewards and no double counting of fees inside principal.
$970 + $12 − $5 = $977: a $23 loss relative to the starting dollar value. The separate holding comparison needs the value of the original token quantities at the review prices.
“My wallet is connected, so the site can be trusted.”
Connection is not verification of the domain, token contracts or the action requested.
“An audit means every present deployment and setting was reviewed.”
Read the named contracts, commit, scope, findings and mitigation status. A historical report does not establish all current state.
Leave the transaction unsigned and resolve that specific uncertainty through the current app, official documentation or the relevant onchain record. Completing a deposit is not the goal of an educational checklist.