You're being paid 7.27% to absorb price risk. Only ~7.08% of it is real fees (the other ~3% is decaying emissions) — and they stop covering impermanent loss if KPK-USDC-YIELD diverges more than ±117%.
Real fee/staking yield: 7.08% · token emissions: 3% of the headline.
Break-even fact: a ±117% move in KPK-USDC-YIELD erases a full year of the fees you actually keep (~7.08%). 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.