You're being paid 4.90% to absorb price risk. Only ~4.90% of it is real fees — and they stop covering impermanent loss if RLB-USDC diverges more than the pair moves.
Real fee/staking yield: 4.90% · token emissions: 0% of the headline.
The real fees here (~4.90%) can beat holding if RLB-USDC stays calm, but a sharp divergence flips that. It's a genuine short-volatility bet, not free income.
Source: DefiLlama. Verdict is a heuristic over public data, not financial advice.