#plasma $XPL Arbitrum pools LP mainstream (such as ARB/ETH, USDC/ETH) currently have an APY ranging from 4–12%, with the yield structure highly dependent on ARB emission incentives (accounting for 70–90%), and the fee sharing only 10–30%. After the emission reduction in the bear market, the APY quickly drops to single digits, easily leading to an 'incentive cliff'.
Plasma USDT0/XPL pool APY 22–38%, with fee sharing already accounting for 49% (driven by tx payments), and emissions accounting for 43% and continuing to decline. Plasma's yield is more 'usage-oriented', the higher the proportion of fees, the more sustainable it is, and the bottom of the bear market instead shifts from 'emission-driven rise' to 'fee dividends'. Current low price levels make Plasma LP more focused on long-term value capture.
XPLUSDT
Perp.
0.0826
-2.59%
ARBUSDT
Perp.
0.1163
-3.40%