Skip to main content

DeFi Yield Protocol (DYP) Continues to Expand Its Ecosystem

DeFi Yield Protocol (DYP) Continues to Expand Its Ecosystem

DeFi Yield Protocol has emerged as one of the fastest-growing crypto projects with an expanding ecosystem. DYP allows DeFi users to leverage advanced trading tools to earn yield on their assets while taking advantage of the unique DYP Tools decentralized application.

DYP has attracted the attention of many within the crypto space due to its features that include its unique Anti-manipulation system. The anti-manipulation feature ensures the stability of DYP tokens by automatically converting DYP rewards to Ether (ETH) or BNB by 00:00 UTC daily and distributing rewards to liquidity providers.

Key Developments in DYP Ecosystem

The DYP team continues to develop the ecosystem with major partnerships and integrations into its infrastructure. Some of the high profile developments include:

Chainlink Integration

DYP recently revealed that it has integrated Chainlink Price Feeds on its Ethereum and Binance Smart Chain mainnet. The integration will provide DYP with access to high-quality, tamper-proof price feeds needed to provide the exact value in USD for the rewards paid in ETH and BNB to the liquidity providers via farming pools. Chainlink data feeds will also ensure that DYP values are provided in a fully decentralized way that cannot be manipulated.

According to DYP, the choice of Chainlink is due to its seamless solution that has been tried and tested within the DeFi sector. Chainlink is the choice of several leading DeFi protocols and has proven to be valuable in maintaining the stability and security of smart contracts.

DYP will also use Chainlink in the future to provide additional price feeds for all the farming, staking, and vault pools on its platform.

Avalanche integration

DYP is also set to expand its ecosystem by building integration with DeFi protocol Avalanche. The expansion will enable users to leverage DYP advanced trading tools on Avalanche. DYP will initially launch three products: DYP Farming, DYP Tools, and DYP NFTs.

As part of the integration, DYP Farming platform will launch a DYP/AVAX pair on Pangolin enabling users to stake their tokens for the different duration (3,30,60,90 days). Rewards are delivered to users in their choice of PNG, AVAX, or wrapped ETH daily.

DYP will also launch its unique NFT marketplace ‘’DYP NFTs’’ on Avalanche. The Marketplace will enable artists and creators to mint, trade, and sell their digital artwork to the Avalanche community at low fees and eco-friendly technology.

Ethereum and Binance Smart Chain Pools

DYP has achieved several milestones and became the first protocol to offer users yield rewards in ETH or BNB. Since its launch in 2020, DYP has paid out 8,455.24 ETH and 4,622.56 BNB worth over $20 million to liquidity providers.

It is also one of the few yield farming platforms that allows users to stake on both Ethereum and Binance Smart Chain Network. Yield farmers can easily stake DYP tokens on one of the supported staking pools. Each pool has four different staking options with rewards starting 20% APR up to 35% APR, depending on the lock time.

The DYP Earn Vault also provides an alternative means for users to earn impressive yields. The Vault is an automated yield farming contract with Compound Protocol integration and support for ETH, WBTC, USDC, USDT, and DAI markets.

The interest from Compound is entirely distributed to the users. A substantial proportion of the profits (75%) is converted ETH and distributed to the liquidity providers, whereas the remainder (25%) is used to buy back our protocol token and burn it.

DYP Tools

DYP has developed a unique decentralized tools dashboard called DYP tools that is the first of its kind in the DeFi sector. DYP Tools increase the use cases for DYP Token and the entire DeFi ecosystem. The tool dashboard serves as a liquidity locker for any DeFi project and protects the DeFi community by providing a decentralized trust score for all DeFi.

DYP continues to trail the blaze in the DeFi space, and the launch of the DYP Tools is expected to lead to an adoption of the DYP token and its project within the crypto space.

To learn more about DeFi Yield Protocol, follow the links below. www.dyp.finance | Twitter | Discord | Telegram | Github | Medium

This is a sponsored post. Learn how to reach our audience here. Read disclaimer below.



from Bitcoin News https://ift.tt/3w15de4
Labels:

Comments

Post a Comment

Popular posts from this blog

Deep Web Roundup: Dream Adds Monero and Bitcoin Tumbler “Chip Mixer” Launches

The darknet has been quiet of late, which is the way it’s meant to be. No news means no mega busts, honeypots, or mass market shutdowns. Even when it’s out of the spotlight though, the deep web is quietly making news, whether trialling the latest privacy coins or the newest coin mixers that promise to restore a little of the privacy that’s being stripped away from bitcoin users on a daily basis. Also read: U.S. Agency ICE Conducts Investigations That Exploit Blockchain Activity The Battle for Privacy Heats Up Privacy is all relative, but of late there’s been relatively little privacy to be enjoyed by bitcoin users. Blockchain monitoring software is becoming more sophisticated and more common, with U.S. law enforcement agencies using it to profile and hunt down deep web users. Chip Mixer is a relatively new bitcoin tumbler that’s designed to restore some of that privacy. Available on both the clearnet and darknet, the service uses a variety of techniques to obfuscate blockchain m...
10 comments
Read more

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli...
Post a Comment
Read more

Ombudsman Receives Complaints About Crypto Investments in Spain

The Spanish ombudsman has been receiving complaints about cryptocurrency and how some Spanish citizens investing in these vehicles have lost everything. In his annual report, Angel Gabilondo recognized the rise of cryptocurrencies as a new problem due to the little or no regulation crypto sees in the country. In the same way, the EU has also warned about these assets recently. Spanish Ombudsman Gives His Take on Crypto Angel Gabilondo, the Spanish ombudsman, has given his take regarding cryptocurrencies and the effects they have on citizens investing in some of these projects. Gabilondo said in his yearly report that cryptocurrencies have become “a new problem” during the year examined, with many people having lost all of their funds invested. The report states : Cryptocurrency exchange companies or platforms are not regulated in the legal system, are not subject to any public supervision system, nor do they benefit from deposit guarantee systems. The affected users that sought...
Post a Comment
Read more