Leading yield farming platform DeFi Yield Protocol has launched its highly anticipated DYP Earn Vault. The Vault is an automated yield farming contract fully integrated with Compound Protocol and supports five markets, including ETH, WBTC, USDC, USDT, and DAI.
Earn Rewards on DYP Earn Vaults
Users can provide an asset to the DYP Earn Vault and begin earning impressive yields on their assets. One of the unique features of the Vault is the integration with Compound protocol. When users deposit funds into the Vault, the funds are forwarded to Compound protocol in exchange for respective cTokens held within the smart contract. Interests generated from Compound is then distributed to investors.
DYP Earn Vault offers investors different lockup durations for each of the supported markets. Users can lock their tokens for 3,30,60 and 90 days, with the average interest increasing with the length of the lock period.
Apart from interest generated from Compound Protocol, the DYP Earn Vault also integrates unique strategies to increase the APY for each market.
- A withdrawal fee of 0.3% with 75% of the fee distributed among active vault users, with the remainder 25% used to buy back DYP from Uniswap and burn it.
- Fixed APY between 2.5% and 18% depending on the lock period and the price of DYP on Uniswap
- ETH fee equivalent to 400k gas at current Gwei price for deposits and withdrawal with 75% distributed among active vault users and the remainder used to buy back DYP from Uniswap and burn it
- Investors can reinvest the DYP rewards into fixed staking with a 35% APR for a 4 months Lock Time
DYP transaction fees are higher than similar protocols due to the smart contract complexity within the protocol as it looks for the best possible earning opportunity for users. However DYP compensates by offering some of the best APY in the market.
For example using Compound protocol would give you an APY of 0.12% for their ETH Vault with…