What changed
Total APY moved from 97.01% to 195.80%, up 98.79 percentage points or about 101.8% on a relative basis. The swap-driven base component rose from 38.80% to 92.24%, up 53.44 points, while the AERO reward component increased from 58.21% to 103.56%, up 45.35 points. TVL rose from $148,085 to $151,089, an increase of $3,004 or about 2.0%, so the yield increase is not explained solely by a sharp contraction in reported TVL. The current public surface shows both fee-derived yield and AERO incentives re-expanding at the same time.
Why it matters
This tokenized-stock/WETH LP is maintaining roughly the same capital scale while both swap-fee yield and AERO emissions strengthen. It adds evidence that tokenized-stock DeFi activity on Base is extending beyond USDC pairs into direct crypto-denominated LPs. The headline APY remains highly sensitive to short-term trading activity, active liquidity and AERO allocation, and should not be interpreted as equity dividend yield.
Evidence
- DefiLlama — GOOGLc RWA dashboard — Shows WETH-GOOGLc on Aerodrome Slipstream at $151,089 TVL and 195.80% APY, split into 92.24% base and 103.56% rewards.
- SIGNA ET STRUCTURA — prior GOOGLc/WETH observation — Records the prior GOOGLc/WETH snapshot at $148,085 TVL and 97.01% APY, split into 38.80% base and 58.21% AERO rewards.
- GeckoTerminal — Aerodrome Slipstream GOOGLc/WETH exact pool — The exact pool page is public, but search-indexed retrieval still exposes an early launch-stage snapshot near $11K liquidity and roughly $21K 24-hour volume, showing that provider surfaces are not synchronized.
Limitations
DefiLlama APY is an annualized display derived from short-horizon swap activity, active liquidity, TVL and AERO emissions and does not guarantee future realized returns. GeckoTerminal search retrieval still exposes an older launch-stage snapshot, highlighting material cache and timing differences across providers. Concentrated liquidity introduces range-out risk, impermanent loss and LVR; GOOGLc/WETH also carries both equity-linked and ETH price volatility. AERO rewards can fall or end as epoch voting and allocation change. Tokenized stocks also carry issuer, custody, mint/redemption, eligibility and transfer constraints, plus timing gaps between 24/5 reference equity markets and a 24/7 DEX.
Disclosure
This is a public-market observation and does not constitute investment advice.