What do we call a Defi platform providing its users' rewards in ETH and BNB? Defi yield protocol. DYP is a one-of-a-kind Defi platform instituted in 2020 to create more opportunities for its users. It's probably the first platform to pay its users' pool rewards in ETH.
DYP helps users earn rewards from providing liquidity, staking and mining Ethereum. In a recent release on their Medium page, DYP announced the further steps taken to increase the platform's reach.
According to the release, DYP will launch its new DYP earn vault, DYP tools, DYP NFT DApp, and the new user interface. The first two, i.e, the tools and earn vault will be released shortly.
Additionally, DYP provides additional opportunities to earn more income in staking, yield farming, etc. As of the latest release, DYP has already distributed 7064 ETH worth over $14.87 million since the launch of the staking Dapp a few months ago. Moreover, DYP is now accessible in both the Binance Smart Chain and the Ethereum Chain. There are currently over 4 PancakeSwap based pools that every investor is allowed to participate in depending on the value of stake and the profits they need. Additionally, DYP institutes a BSC link, the BSC-DYP bridge, which will help transfer DYP between the ETH and BSC networks.
Apart from the advancements made recently, DYP had other features since its launch to help protect users and interact with the community.
DYP is the First Manipulation Free Platform
Manipulation has been a cause of severe losses in the crypto world, with decentralized exchange users losing fortunes to whales. The most recent heavy manipulation was in SushiSwap, where the founder made an exit scam affecting the Defi and Crypto markets. However, Defi yield protocol boasts being the first platform to introduce tools for adequate prevention of crypto price manipulation. Foremost, everyone from a small investor to a whale can participate in providing liquidity. Therefore, liquidity provision is not left to only a few people.
The platform converts all DYP earned during the day into ETH and BNB currencies. This conversion happens every 24 hours. Converting the DYP tokens into another currency helps protect the price of the DYP token from fraudulent people.If at some point the price of the DYP falls by over 2.5%, Defi yield protocol converts the maximum number of DYP possible into ETH. As they convert the DYP, they avoid indirectly affecting the price of the token.
The remaining unconverted DYP is used within seven days to pay rewards to pool investors. If any DYP remains after the seven days, the community will vote on whether to burn or distribute the tokens through DAO governance.
DYP for the Community
The idea of Defi’s introduction was to introduce complete decentralization of financial services while keeping the community in mind. DYP works well with the community and for the community.
Foremost, the platform has its native token DYP, whose holders can participate in the project's governance. The holders will help vote for decisions like adding new pools, burning or redistributing tokens, governance initiatives, partnerships, etc. Moreover, DYP interacts with the community by educating them via social networks and providing analysis tools. Their Twitter page is active to help investors in all their decision-making.
It's so common for beginner investors to make investment mistakes by choosing poorly performing projects. The reason for their poor choices is due to lack of proper research skills. However, the DYP network introduces DYP tools which boasts of several features for utter simplicity and community involvement. DYP tools will host features like a pair explorer, pool explorer, Bigswap explorer, etc.
Other features for the community include excellent liquidity data, a locker, a trust score, and complete decentralization. All these features instituted in the platform will attract many investors, boost DYP token price and demand.
It's time for investors to use DYP, which is available both in the Ethereum blockchain and BSC chain via PancakeSwap.