alpha signal: USDC lp analytics on supernova-cl
alpha signal: lp analytics
$USDC supernova-cl USDC-USDT on ethereum, APY 17.75%, TVL $629k, reward-only pool.
headline apy is 17.75% but base yield sits at 0.00%. all 35.5% of the reward apy comes from token emissions. no fee revenue at all. the defillama average hides tick-range drift and vault composition.
trigger is reward_only_pool. tvl is thin at $629k. apy collapses the second emissions pause or the reward token dumps. you're farming a token unlock schedule, not sustainable yield.
risks: reward token price crash, emissions cut, zero base yield means no buffer if liquidity migrates.
would you park stablecoins here vs a 4% money market?
full deep digest at falsifylab.substack.com
#USDC #DeFiYield #OnchainAlpha
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