About 82% of this 7.02% APY is decaying token emissions. The real fee yield is ~1.27%. This pool is short volatility — fees stop covering impermanent loss if CRVUSD-WETH-CRV diverges more than ±38%.
Real fee/staking yield: 1.27% · token emissions: 82% of the headline.
Break-even fact: a ±38% move in CRVUSD-WETH-CRV erases a full year of the fees you actually keep (~1.27%). 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.