Can a Liquidity Pool Experience “Impermanent Gain”?
No, a liquidity pool cannot experience "impermanent gain" in the technical sense of the term. Impermanent loss is defined as the difference between the value of the deposited assets and the value of simply holding them.
This difference is always zero or negative (a loss) because the AMM always forces the pool to hold more of the relatively depreciating asset, which is mathematically less optimal than holding the original assets.
