About 81% of this 3.10% APY is decaying token emissions. The real fee yield is ~0.60%. This pool is short volatility — fees stop covering impermanent loss if YOG-ETH diverges more than ±24%.
Real fee/staking yield: 0.60% · token emissions: 81% of the headline.
Break-even fact: a ±24% move in YOG-ETH erases a full year of the fees you actually keep (~0.60%). 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.