You're being paid 4.86% to absorb price risk. Only ~4.86% of it is real fees — and they stop covering impermanent loss if USDG-ONYC diverges more than ±89%.
Real fee/staking yield: 4.86% · token emissions: 0% of the headline.
Break-even fact: a ±89% move in USDG-ONYC erases a full year of the fees you actually keep (~4.86%). Whether that move happens is up to the market — but any emissions inflating the headline will fade regardless.
Source: DefiLlama. Verdict is a heuristic over public data, not financial advice.