if i downgrade storage will I lose my 50gb

Apple in fact has a flat monthly fee for 50GB of iCloud storage:

iCloud storage plans and pricing - Apple Support

See the monthly pricing and plans per country or region below.

United States⁵ (USD)

50GB: $0.99

200GB: $2.99

2TB: $9.99

There is actually no Yearly fee for iCloud. All prices are monthly.

And not sure what you mean by "after I looked it up"

I knew that without having to look it up. You are the one that would need to look it up.

If you downgrade, your total iCloud storage will be 5GB instead of your current 50GB.

Yes. That is what downgrading means. You lose the extra storage you upgraded to previously.

There is no way for you to keep the 50GB without actually paying for it.