For Both Yield Farmers And The Defi Space, The Defi Yield Protocol Is A Massive Boost
Know all about Defi Yield Protocol. The reasons behind the boost. It is surely informative as well as interesting.
In this context, as we see a steady growth of those blockchain spaces and it is most significantly the decentralised finance since February 2020. The network’s growth has been more aggressive this year than it has ever been while DeFi isn’t entirely new. Making Defi the most engaging conversation in the blockchain space, no doubt, the distribution of COMP governance token and the introduction of yield farming protocols around June this year has.
DeFi Yield Protocol (DYP)
Due to the control and ease it offers users, decentralised finance has only grown this much. An overwhelming sense of trust has been birthed over the past few months by allowing users to utilise traditional banking and financing services like lending, borrowing, and saving. Mostly by offering liquidity through yield farming protocols, even more, captivating is that many users now earn more than 100% of their capital.
Always observing a contrast between the different DeFi protocols and what they might set a precedent for the DeFi ecosystem’s longevity as a whole over the past couple of months. While maintaining the token price, the DeFi yield protocol (DYP) is a unique protocol that allows virtually any user to provide liquidity, and earn DYP tokens. Accommodating new and expert yield farmers, unlike some DeFi user interface, the DYP interface is quite simplified.
What Makes The DYP Staking Pool Unique?
Developing the unique DYP staking is DYP developers together with a blockchain company. Hereby it comes to be allowing those users who stake dAPP through the Ethereum smart contract that is front-end integrated with Metamask and Trustwallet is the DYP staking. DYP aims to tackle them head-on and give users the best experience in open finance by studying some flaws of the DeFi ecosystem.
Revolving around whales controlling the network is one of the many arguments against the operability of defi. Where the anonymous founder dumped all of these Sushi tokens for Ethereum is one such example with the infamous Sushi dump. DYP developed an anti-manipulation feature that automatically converts all pool rewards from DYP to ETH at 00:00 UTC every day to prevent a whale attack. Then distributing the rewards to liquidity providers in the system. Ensuring that the pool’s liquidity is fair to every participant is this manipulation feature.
The smart contract also maintains the DYP token price besides preventing whales through the anti-manipulating feature. The smart contract only swaps as many DYP tokens to ETH that doesn’t affect the price of the token if the DYP price fluctuates beyond 2.5% in value rather than thereafter swap all of the 276,480 DYP tokens thereby for ETH at 00:00 UTC. Then distributed in the next day’s rewards is the leftover DYP. The DYP governance votes on whether to distribute them to token holders or burn the tokens from circulation if there are still leftover DYP tokens.
The greatest risk in yield farming today is still a smart contract bug as the decentralised network is essentially an open space regulated by a smart contract. DYP ensures all their smart contract codes are audited to prevent the risk of a smart contract bug on their network.
DYP Yield Farming And The Ethereum Mining Network
There is a corresponding need for mining on the network as the Ethereum network continues to increase in size and number. Investing more than $ 1 m on their mining farm, the DYP team has been committed to Ethereum mining for more than three years. The DYP team has also shown its willingness to allow many more users to participate as not only is the team heavily invested in Ethereum mining.
Therefore, for those addresses of the Ethereum miner, it is then interacting with the whole of DYP smart contract thus helping earn a monthly bonus of what is 10% in DYP mainly of the ETH income when earned monthly to then reward users. The understanding of this comes as:
With ETH price at $400 and DYP price at $2, in case you earn 1ETH monthly, you also get a monthly airdrop of 10% (20 of the DYP tokens worth $40). Here it is seen that joining their Ethereum mining pool is users with a 0% fee that means users will also earn more monthly to claim the airdrop tokens.
Using the best yield farming strategies, DYP also has an automatic earn vault that moves a participant’s funds around. Finally coming as the automatic earn vault which is distributing 75% of the earnings among the liquidity providers as well as 25% to buy back DYP tokens. Maintaining the price of the token ultimately promotes liquidity in the pool.
Last But Not The Least, DYP Crowdsale
DYP is actively laying a foundation from its public crowdsale when the decentralised finance ecosystem (DeFi) seeks a balance while setting a precedent for its mainstream adoption. 570,000 DYP tokens worth 2,821.71 ETH has been sold during the whitelisting and presale round.