DeFi Yield Protocol (DYP) is really a decentralized protocol that provides crypto holders a method to earn rewards by giving liquidity on its network. Which consists of native token DYP, holders can offer liquidity on its Ethereum structured smart contract and earn benefits. DYP premiered in the 3rd quarter of 2020 and contains witnessed massive growth since that time. It currently has over $63 million in TVL (Complete locked in Value) and contains paid a complete of 2,469 ETH ($3,836,415) to liquidity suppliers during this period. Investors also have earned 100.14 ETH in only 24 hours making it among the best yield farming protocols on the market.
Liquidity
To start out providing liquidity and earning ETH rewards is easy. All that is required would be to deposit their liquidity provider tokens (Uniswap LP tokens) in to the corresponding initial set of pools. DYP currently has four liquidity pools supported, DYP-ETH, DYP-WBTC, DYP-USDC and DYP-USDT.
000 DYP around 100,000 DYP Monthly with regards to the lock time frame (3 days up to 3 months).
DYP comes with an anti-manipulation feature which has shown to be successful since its launch. DYP anti-manipulation system automatically converts all pool rewards from supported liquidity pools (DYP/ETH, DYP/USDC, DYP/USDT, and DYP/WBTC POOL) to ETH each day at 00:00 UTC daily.
DYP Launches Farming dApp
DYP has launched a Farming dApp that allows investors to get fixed rewards. Each staking pool offers rewards beginning with 20% APR to 35% APR with regards to the duration locked on the smart contract (at the least 30 days around 120 days.
This development is likely to enable investors to automatically add their daily rewards to the staking pool with 0% fees utilizing the re-invest function. Furthermore, DYP has integrated a referral system where users are rewarded with 5% of these friend’s reward every time they stake DYP. up to now over $1 million have been completely staked in the newly launched Farming dApp.
There’s also plans to build up multiple DYP liquidity lockers with different unlock times and support for other vesting lockers for Uniswap liquidity.
DYP ETH Mining Pool
DYP continues to focus on creating services within its ecosystem and is defined to roll out its ETH mining pool prior to the end of the initial quarter of 2021. DYP has recently invested over $1 million to build up the mining pool that provides participant fixed earning revenues.
Other Developments
DYP in addition has revealed that its DYP Earn Vault will launch in the initial quarter of the entire year. The feature allows users to earn good returns via an automated yield farming contract. 75% of Earn Vault’s profit will undoubtedly be shared among liquidity providers as the remaining 25% can be used to buyback DYP governance protocol tokens to boost liquidity.
Furthermore, the DYP Earn Vault will offer you support for five tokens including ETH, WBTC, USDC, USDT and DAI. Liquidity providers can stake their tokens for 3, 30, 60,90 and 120 days. Also, the custom DEX tools dashboard will scan data from the open-source resources like Etherscan to greatly help investors make the very best investment decisions.
A number of the features that will be built-into the DEX tool includes the power of users to explore Uniswap pools/pairs. Investors may also get access to real-time trading charts and show a decentralized trust score on liquidity projects. The trust score is dependant on different parameters and can offer an insight to traders concerning the state of a project.