Can someone provide the eli5 on liquidity mining $DEGEN?

I understand the concept of providing liquidity to a pool, but what specifically am I doing when I choose a price range? And what happens if price goes out of that range?

writer & former journo // content @coinbase // after hours, building @darkblock for token-bound content // dad x2 👨‍👦‍👦 // FID #4583 

The liquidity mining incentive doesn't seem to be based on the width of the range you select, just that it stays in range and the total LP. So just set it really wide if that's what you're after. The downside is you'll earn less fees from your position. But you're also at much less risk of "impermanent loss".