DeFi Yield Protocol Ecosystem Expands Following New Developments

DeFi Yield Protocol (DYP) is a decentralized protocol that offers crypto holders a way to earn rewards by providing liquidity on its network. Using its native token  DYP, holders can provide liquidity on its Ethereum based smart contract and earn rewards.

DYP was launched in the third quarter of 2020 and has witnessed massive growth since then. It currently has over $63 million in TVL (Total locked in Value) and has paid a total of 2,469 ETH ($3,836,415) to liquidity providers during this period. Investors have also earned 100.14 ETH in just 24 hours making it one of the best yield farming protocols in the market.

To start providing liquidity and earning ETH rewards is straightforward. All that is required is to deposit their liquidity provider tokens (Uniswap LP tokens) into the corresponding initial list of pools. DYP currently has four liquidity pools supported, DYP-ETH, DYP-WBTC, DYP-USDC and DYP-USDT.

Each pool offers four different staking options with rewards ranging from 30,000 DYP up to 100,000 DYP Monthly depending on the lock time period (3 days up to 90 days).  Once the tokens are staked rewards are paid directly to users wallets and investors are able to earn yields on their assets.

DYP has an anti-manipulation feature which has proven to be a success since its launch. DYP anti-manipulation system automatically converts all pool rewards from supported liquidity pools (DYP/ETH, DYP/USDC, DYP/USDT, and DYP/WBTC POOL) to ETH every day at 00:00 UTC daily.

Once the conversion is completed, the smart contract distributes rewards to liquidity providers in the form of Ether (ETH). This system ensures that there is no market manipulation by whales and offers price stability and security to DYP token holders.

DYP Launches Farming dApp with referral System

DYP has launched a Farming dApp that enables investors to receive fixed rewards. Each staking pool offers rewards starting from 20% APR to 35% APR depending on the duration locked on the smart contract (a minimum…

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