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DeFi Yield Protocol continues to expand its Ecosystem

DeFi Yield Protocol (DYP) Continues to Expand Its Ecosystem

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

DYP is a popular crypto-currency feature. Its unique Anti-manipulation mechanism has attracted a lot of attention from the crypto community. 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 is continuing to build the ecosystem through major partnerships and integrations into it infrastructure. Some of the high profile developments include:

Chainlink Integration

DYP has recently announced that it has integrated Chainlink price feeds on its Ethereum 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 ensure that DYP values cannot be manipulated and are fully decentralized.

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

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

Avalanche integration

DYP will also be expanding its ecosystem through integration with DeFi protocol Avalanche. This expansion will allow users to use DYP advanced trading instruments on Avalanche. DYP will launch three products initially: DYP Farming and DYP Tools.

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 also plans to launch its NFT marketplace, ”DYPNFTs”’ on Avalanche. This Marketplace will allow artists and creators to trade, mint, and sell digital artwork to Avalanche at low fees using 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’s also one of few yield farming platforms that allows users stake on Ethereum and Binance Smart Chain Network. Yield farmers can stake DYP tokens in any of the supported staking pool. 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 offers users an alternative way to generate impressive yields. The Vault is an automated yield farming contract with Compound Protocol integration and support for ETH, WBTC, USDC, USDT, and DAI markets.

All interest from Compound is distributed to 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 created a unique dashboard of decentralized tools called DYP Tools. It is the first such dashboard in the DeFi sector. DYP Tools increases the number of DeFi tokens and DeFi ecosystem use cases. The dashboard acts as a liquidity lock for any DeFi project, and provides a decentralized trust score that protects all DeFi.

DYP continues its lead in the DeFi space. The launch of DYP Tools will likely result in a wider adoption of the DYP token as well as the project within the crypto space.

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


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Disclaimer: This article is for informational purposes only. This article is not intended to be a solicitation or offer to buy or sell any products or services. Bitcoin.com does not provide investment, tax, legal, or accounting advice. The author and the company are not responsible for any loss or damage resulting from or in connection to the content, goods, or services in this article.

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