Comment by saurik

Many of these APYs are being measured in the token staked, not in the "value" of that token as might be expressed in (say) dollars. The payment is then made via inflation, which devalues everyone's tokens to give the people who staled more token. (Yes: this means that the value of your money might go down even if you legitimately have 20% more of it; the market for the token at that point is a separate--yet related--issue.)