Earn Yield Farming Rewards with DeFi Yield Protocol (DYP) – Press release Bitcoin News
PRESS RELEASE. The DeFi Yield Protocol (DYP) is a decentralized yield farming platform that allows liquidity providers to earn rewards in the form of Ethereum and the proprietary DYP token. It provides a solution to the risk associated with yield farming and offers various earning opportunities to investors while maintaining the fully decentralized platform.
DYP users can rely on anti-handling, which controls token volatility and prevents whales from hijacking the token pricing mechanism (DYP).
Potential for huge gains through pooling of resources
Since its launch in 2020, DYP has managed to generate a powerful buzz. The Harvest Protocol was launched in December and backers have been greatly rewarded for their efforts.
As of February 3, 2021, more than $63 million in crypto assets have been committed to DYP smart contracts, making it one of the fastest growing crypto platforms. Since launch, DYP has distributed over 2,575 ETHs worth approximately $4,206,003.
The Defi platform pays out an average of 106 ETH ($170,000) per day in rewards to liquidity providers. This factor, along with other fundamental factors, has attracted cash farmers to the platform. The anti-handicapping mechanisms mentioned above are essential because they ensure fairness and transparency in the payment of dividends to cash providers.
The anti-manipulation feature built into the DYP Smart Contract converts all DYP rewards generated by the Steak Pool at 00:00 each day into Ethereum before distributing them to liquidity providers. This is important because users receive their rewards in Ethereum, which is less sensitive to fluctuations than the native DYP token.
The DYP also contains an internal mechanism to control inflation. If the price of DYP fluctuates by more than 2.5%, the smart contract generates a maximum amount of DYP that does not affect the price. If there is a surplus, the remaining rewards are blocked and awarded as part of the next day’s reward. If there are still excess rewards after seven days, the community will decide on the board to burn or distribute the tokens.
How to bet and win at DYP
Users can contribute their Uniswap liquidity tokens (Uniswap LP tokens) to the corresponding pool list. DYP currently supports four liquidity pools: DYP-ETH, DYP-WBTC, DYP-USDC and DYP-USDT.
Each pool offers four different betting options with rewards ranging from DYP 30,000 to DYP 100,000 per month, depending on the blocking period (from 3 to 90 days). Dividends are paid directly into users’ portfolios and investors can earn a return on their assets. Currently, the annual interest rate for the DYP pool fluctuates between 248% and 692%.
More revenue opportunities with the dApp Farming platform
DYP continues to expand earning opportunities in its ecosystem and recently launched an agricultural dApp that offers fixed rewards to investors. The stable platform allows investors to earn DYP tokens with a fixed reward percentage.
Revenue is based on the length of the locking period and users can use their DYP tokens between 30 and 120 days. DYP has also shown that locking DYP tokens for 30 days earns 20 APR, while those who lock for 120 days receive a maximum of 35%. The recently launched dApp also includes a referral system that offers a 5% reward for sponsored friends.
Since the launch of dApp agriculture, DYP token holders have already delivered more than $1 million in total shares.
The DYP Ecosystem, Expansion Planned for 2021
The DYP development team continues to work on products that should be on the market by the end of the first quarter of this year. The DYP Earn Vault is in the final stages of development and will provide automated earnings capabilities for stackers. The vault is expected to accommodate Ethereum, packaged bitcoins and stable coins.
DYP is also developing a dashboard that will transform its ecosystem. The DYP tools will have a confidence score that can be used to evaluate the projects included in Uniswap against various criteria. Traders and investors will be able to analyze projects and make informed investment decisions.
To learn more about the DeFi Yield protocol, follow these links: www.dyp.finance | Twitter | Discord | Telegram | Github | Medium
This is a press release. Readers should exercise due diligence before taking any action regarding the advertised company or any of its subsidiaries or services. Bitcoin.com shall not be responsible or liable, 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.
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