I did something like this and I want to share it with you for experimental purposes.
There is a huge volume circulating on Binance Alpha and very high fee rates are being earned. However, we also know the past incidents of ZKJ and KOGE.
Today, I added a $2K LP to the $BR / $BNB pool. The APY rate is %250.
Then, I shorted $BR through Futures at a value of 2K$ .
This way, I was able to hedge my position. So if the price of $BR crashes like ZKJ, I will make a profit from the short and that will cover the loss.
If the price does not crash, I will earn a high fee income.
We will try it and see how this turns out..
I will provide an update.