Bitcoin News and Finance
Earn Yield Farming Rewards with DeFi Yield Protocol (DYP) Skip to main content

Earn Yield Farming Rewards with DeFi Yield Protocol (DYP)

PRESS RELEASE. DeFi Yield Protocol (DYP) is a decentralized yield farming platform that allows liquidity providers to earn rewards in Ethereum and its native token DYP. It offers a solution to the risk involved in Yield Farming by offering different options for investors to earn while maintaining full decentralization of its platform.

DYP users can bank on the anti-manipulation feature that ensures that the volatility of tokens is controlled and prevents whales from taking over its token price mechanism (DYP).

Massive Earning Potentials via Staking Pool

DYP has been able to generate massive buzz since its launch in 2020. The yield farming protocol launched its staking pool in December, and liquidity providers have earned immense rewards on their stakes.

As of Feb 3, 2021, over $63 million worth of crypto-assets have been staked in DYP smart contracts making it one of the fastest-growing yield farming platforms. DYP has distributed over 2,575 ETH worth around $4,206,003 since its launch.

The defi platform distributes an average of 106 ETH ($170,000) in rewards to liquidity providers daily. This and other fundamentals have attracted liquidity farmers to the platform. The anti-manipulation features mentioned earlier are crucial as it ensures that dividends distributed to liquidity providers are fair and transparent.

Integrated into the DYP smart contract, the anti-manipulation feature converts all DYP rewards generated from the staking pool to Ethereum daily at 00:00 before distributing it to liquidity providers. This is important since users receive their rewards in Ethereum, which is less prone to volatility than the native DYP token.

DYP also integrates an internal mechanism to curb inflation. If the price of DYP fluctuates by more than 2.5%, the smart contract generates a maximum amount of DYP that will not affect the price. In surplus, the remaining rewards are locked and allocated as part of the next day’s reward. At the end of seven days, if excess rewards remain, the community will hold a governance vote to determine whether to burn or distribute tokens.

How to Stake and earn on DYP

Users can begin supplying their liquidity tokens from Uniswap (Uniswap LP tokens) into the corresponding list of pools. DYP currently has four liquidity pools supported, DYP-ETH, DYP-WBTC, DYP-USDC, and DYP-USDT.

Each pool offers four different staking options with rewards ranging from 30,000 DYP up to 100,000 DYP Monthly depending on the lock period (3 days up to 90 days). Dividends are paid directly to users’ wallets, and investors can earn yields on their assets. Currently, the APY for the DYP staking pool is between 248% and 692%.

More earning potentials with dApp Farming Platform

DYP continues to expand earning opportunities within its ecosystem and recently launched a farming dApp that offers fixed rewards for investors. The staking platform offers a staking opportunity for investors to earn DYP tokens for fixed percentage rewards.

The earnings are based on the lock-period duration, and users can stake their DYP tokens from 30 days to 120 days. DYP further revealed that locking DYP tokens for 30 days attracts a 20 APR, while those that lock for 120 days receive a maximum of 35%. The newly launched farming dApp also integrates a referral system that offers rewards of 5% of referred friends’ stake.

Since its launch of the farming dApp, DYP token holders have already staked over $1 million within the staking pool.

DYP Ecosystem Expected to expand in 2021

DYP development team has continued to build products that are expected to be launched before the end of the first quarter of the year. DYP Earn Vault is in the last stages of development and will offer automated earnings for stakers. The vault is expected to support Ethereum, Wrapped Bitcoin, and Stablecoins.

DYP is also developing a tools dashboard that will transform its ecosystem. The DYP tools will feature a trust score that grades defi projects listed on Uniswap based on multiple parameters. Traders and investors will be able to analyze projects and make informed investment decisions.

To learn more about DeFi Yield Protocol follow these links: www.dyp.finance | Twitter | Discord | Telegram | Github | Medium

This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

Labels:

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r
Post a Comment
Read more
Blogarama - Blog Directory