Liquidity providers on DEX platforms often see better returns when fees flow directly to them alongside token emissions. The advantage becomes clear when you compare models—some platforms combine swap fees with governance token rewards, keeping APR more predictable and stable. In contrast, protocols that depend heavily on native-token incentives face a different challenge: APRs tend to fluctuate wildly as token prices move. When emissions are the only yield source, downturns hit harder. So the real edge? Protocols that diversify reward sources—blending protocol fees with token distributions—tend to offer LPs more consistent income streams regardless of market conditions.