You're being paid 2.69% to absorb price risk. Only ~2.69% of it is real fees — and they stop covering impermanent loss if SOL-PENGU diverges more than ±60%.
Real fee/staking yield: 2.69% · token emissions: 0% of the headline.
Break-even fact: a ±60% move in SOL-PENGU erases a full year of the fees you actually keep (~2.69%). 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.