You're being paid 6.32% to absorb price risk. Only ~6.32% of it is real fees — and they stop covering impermanent loss if KMNO-USDC diverges more than ±108%.
Real fee/staking yield: 6.32% · token emissions: 0% of the headline.
Break-even fact: a ±108% move in KMNO-USDC erases a full year of the fees you actually keep (~6.32%). 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.