{"id":456016,"date":"2021-02-04T18:21:32","date_gmt":"2021-02-04T18:21:32","guid":{"rendered":"https:\/\/uniquehot.com\/?p=456016"},"modified":"2024-10-26T19:40:40","modified_gmt":"2024-10-26T19:40:40","slug":"defi-yield-protocol-dyp-prepares-to-take-2021-head-on-with-new-developments-as-tvl-surpasses-60m","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/company\/defi-yield-protocol-dyp-prepares-to-take-2021-head-on-with-new-developments-as-tvl-surpasses-60m\/","title":{"rendered":"DeFi Yield Protocol (DYP) Prepares to Take 2021 Head on with New Developments as TVL Surpasses $60M"},"content":{"rendered":"
Decentralized Finance, DeFi in short, is a rage these days as one of the most versatile applications of cryptocurrency\u2019s underlying blockchain technology. Poised to become an alternative to the traditional financial system, it is capable of providing even the unbanked with access to financial services at a low cost, while simultaneously presenting attractive investment opportunities to everyone.<\/p>\n
One of the platforms spearheading the DeFi revolution is DYP \u2013 DeFi Yield Protocol<\/a>. The platform offers a range of DeFi instruments to investors, allowing them to earn rewards for their contribution to the network.\u00a0 The products available on DeFi Yield Protocol include Staking, Yield Farming and Pool Mining, with more on its way.<\/p>\n DYP is designed to be completely secure and transparent, with all smart contracts subjected to stringent security audits. In addition, DYP also incorporates some of the best risk management procedures to prevent manipulation by the whales. Built on the Ethereum blockchain, DeFi Yield Protocol is governed by its native DYP tokens<\/a>.<\/p>\n Staking is a mainstay on almost all DeFi products, and it is no different on DYP either. On DYP, users can stake their liquidity provider tokens<\/a> into any of the 4 pools: DYP-ETH, DTP-WBTC, DYP-USDC and DYP-USDT and receive Ethereum rewards. Further, they can choose from 4 different staking options within each pool to receive rewards ranging from 30,000 DYP to 100,000 DYP per month. The flexible staking options on DYP allows users to lock their funds for a minimum of 3 days to a maximum of 90 days.<\/p>\n Similarly, DYP Farming Pools<\/a> allow investors to lock their funds for a duration ranging from one month to 4 months to earn rewards. The returns for investing in DYP Farming starts from 20% APR to 35% APR. Further, these rewards can be reinvested using an inbuilt function for improved returns.<\/p>\n Since the launch of the DYP Staking and Yield Farming dApp, the platform has gained a lot of attention from the crypto community. In a short period of time, DYP\u2019s staking and farming pools have secured total locked values of over $61.5 million and $1.12 million, respectively. So far, the platform has paid out over 2,469.60 ETHs worth more than $3.6 million to liquidity providers. Currently, daily rewards exceed 100 ETH on DYP.<\/p>\n The DYP team is not new to ETH mining as they have been involved in it for a long time. Now, they are bringing their expertise into the DYP ecosystem for the benefit of investors by launching the DYP ETH Mining Pool<\/a>. The upcoming zero-fee mining pool offers an opportunity for DYP tokenholders to take part in the mining process and earn an additional 10% monthly bonus on top of their mining rewards. With the whitelisting process for participation already in place, the DYP ETH Mining pool will go live as soon as they achieve 250 GH\/s hashrate.<\/p>\nDeFi Products on DYP<\/h3>\n
DYP ETH Mining Pool<\/h3>\n
DYP Anti-Manipulation Feature<\/h3>\n