I personally chase constant APY. From low risk (5-20%) to high risk (100 - 1xxxx%). Returns from High (currently MidasDao) will be diverted into Low risk (Crypto.com, Celsius, etc.)
Sometimes percent of "APY" isn't always reflecting the risk level. I'm not saying 100-1xxxx% APYs safer than 5-20%. I mean, in the context of how you understand technically about rebasing tokens that apply elasticity on the supply of their tokens can produce high APY (since you mention rebase project) (IMHO).
I'm also not tryin' to compare the risk of a rebasing project with other "low risk" projects. I'm just tryin' to say that risk depends on many factors.
To me, it's not too different with risk on solo and pooled mining. - Which one do you think is riskier?
You have a pretty good strategy! ngl