DeFi Yield Protocol (DYP) is a unique project that boosts the earning capacity of all liquidity providers (LPs). The protocol eliminates DeFi and yield farming risks by integrating an earning model that rewards investors directly in Ethereum rather than native tokens.
This model protects users from the volatility of DeFi tokens while also preventing whales from manipulating token prices via its anti-manipulation feature.
DYP currently boasts $68M in total value locked (TVL) and has so far paid 3,268.81 ETH ($5,909,691) to the LPs on the platform since launch in Q3 of 2020.
Investors on the protocol can provide liquidity and earn rewards without fear of manipulation due to the anti-manipulation feature that guarantees the stability of the staking pool’s rewards. Here is a look at the diverse opportunities to earn with DYP.
Earn Rewards with the DYP Staking Protocol
DYP has launched its staking protocol that supports DYP/USDT, DYP/WBTC, DYP/USDC, and DYP/ETH pools. DeFi investors can join any of the available pools and earn ETH rewards via smart contracts and Metamask wallet.
Each staking pool pair offers users lucrative rewards ranging from 30,000 DYP to 100,000. The amount of rewards earned will depend on the pool’s lock duration (3, 30, 60, 90, and 120 days), with users who lock their funds for longer periods getting higher rewards.
The use of audited smart contracts on the various staking pools eliminates human intervention in reward distribution, creating an unmatched hub for decentralized revenue-generation.
Smart contract protocols also serve as the anti-manipulation feature for each pool; they automatically convert DYP rewards into ETH each day at 00:00 UTC and disburse rewards directly to pool participants.
This feature protects the ecosystem from whales’ manipulation, resulting in price stability and enhanced security for all stakers. It also maintains the staking pool’s rewards stability via deflationary options.
DYP’s Yield Farming Application
The DYP platform has rolled out its yield farming dApp that is listed on Uniswap and Bithumb Global. The Uniswap listing enables investors to earn passive income by depositing their DYP tokens on any supported DYP staking pools. The dApp has already seen over $1M staked by DeFi investors since its launch.
DYP’s decentralized application has four distinct staking options and offers rewards starting from 20% APR up to 35% APR, depending on the smart contract’s lock time (a minimum of 30 days up to 120 days).
Investors will soon be able to increase their earnings by re-staking their rewards daily to the pools at zero fees. The DYP team is also looking to create multiple liquidity lockers that offer varying unlock times and support for other vesting lockers for Uniswap liquidity.
Moreover, the protocol has introduced the DYP referral system that allows users to boost their earnings by inviting their friends to use the DYP token. For every successful referral, the user earns 5% of their friends’ token rewards sent straight to their wallets.
Fixed Earning Revenues from ETH Mining Pool
DYP is always looking to increase opportunities for DeFi investors to earn impressive rewards. To this end, the project plans to launch its ETH mining pool in Q1 of 2021. Each ETH miner address will be able to interact with the protocol’s smart contract via the project’s utility token (DYP token).
Participants will earn rewards monthly with a 10% bonus from the total ETH income earned by the pool. Miners will be able to claim their monthly DYP tokens by joining the zero-fee Ethereum mining pool, which means they will earn more ETH each month.
The decentralized finance protocol plans to distribute five million DYP to attract around 200,000 miners to the pool.
Get More Rewards With the DYP Earn Vault
The DYP earn vault is also set to roll out in Q1 of this year, offering users an automated yield farming protocol that allows them to earn lucrative rewards.
The new product enables investors to deposit supported tokens (ETH, WBTC, USDC, USDT, and DAI), for which the farming contract automatically moves LP’s funds among the most profitable platforms.
The DYP earn vault will allocate 75% of the returns to the LPs, while the remaining 25% of profits will be used to buyback DYP tokens to increase liquidity and maintain token price stability.
Participants in the ETH mining pool will also be allowed to automatically provide liquidity to participating pools and earn more ETH with the DYP earn vault. Overall, these features make DYP one of the top DeFi projects in 2021.