About 17% of this 6.56% APY is decaying token emissions. The real staking / lending yield is ~5.42%. It is single-asset, so there is no impermanent loss to drag you below holding.
Real fee/staking yield: 5.42% · token emissions: 17% of the headline.
No impermanent loss here, so you keep the same price exposure either way. The honest number is the ~5.42% of real yield — the rest is fading emissions, not income.
Source: DefiLlama. Verdict is a heuristic over public data, not financial advice.