You're being paid 7.70% to absorb price risk. Only ~7.70% of it is real fees — and they stop covering impermanent loss if KMNO-USDC diverges more than ±125%.
Real fee/staking yield: 7.70% · token emissions: 0% of the headline.
Break-even fact: a ±125% move in KMNO-USDC erases a full year of the fees you actually keep (~7.70%). 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.