$WETH aerodrome-slipstream WETH-PING pool on base, apy 250%, tvl $10k, 711% reward yield. trigger: reward-only pool.

headline apy is 250% but base yield is 0%. all 711% of the reward apy comes from PING token emissions. the defillama average masks tick-range variance and vault composition. if you’re not in the active tick, your real yield is near zero.

trigger is reward_only_pool. no fee revenue. the entire apy depends on PING continuing to emit at current rates. tvl is thin at $10k, so any size above a few eth will move the pool significantly.

risks: emissions stop or get cut, PING price drops faster than rewards accrue, concentrated liquidity position misses the active tick.

this is a pure token-farming setup with no underlying fee generation.

what’s your real fill rate if you try to enter this pool?

Originally published on FalsifyLab Substack.