You're being paid 6.12% to absorb price risk. Only ~6.12% of it is real fees — and they stop covering impermanent loss if ASSET-USDC diverges more than the pair moves.
Real fee/staking yield: 6.12% · token emissions: 0% of the headline.
The real fees here (~6.12%) can beat holding if ASSET-USDC stays calm, but a sharp divergence flips that. It's a genuine short-volatility bet, not free income.
Source: DefiLlama. Verdict is a heuristic over public data, not financial advice.