DeFi Yield Protocol (DYP) has launched its staking and governance DAPP that looks to improve earning opportunities for users. A unique feature of the launch is that liquidity providers will be rewarded in Ethereum and all the liquidity pools are deployed with anti manipulation features as well as 2.5% slippage.
DYP Holders Able to Vote on Governance
By holding DYP, you will be able to use DYP governance and vote to add additional liquidity mining pools, burn tokens or allocate DYP towards grants, strategic partnerships, governance initiatives and other programs.
All that is required to join governance is to link your metamask wallet to the DYP smart contract and you become eligible to vote and earn rewards.
Unique Staking Platform With Anti Manipulation Features
DYP has also launched its staking pool platform that allows anyone to provide liquidity and get rewarded in Ethereum and DYP tokens. The staking platform is designed in a way that maintains token price stability while offering a secured and simplified platform by integrating an anti-manipulation feature.
To lower the risk of DYP price volatility, all pool rewards are automatically converted from DYP to Ether (ETH) by the smart contract at 00:00 UTC daily and ETH is distributed as a reward to the liquidity providers.
DYP developed a process of maintaining token price stability. Every day the smart contract automatically tries to convert the DYP rewards to ETH. however if the DYP price is affected by more than -2.5% the maximum DYP amount that does not affect the price will be swapped to ETH, with the remaining amount distributed in the next day’s rewards.
After seven days, if it still has undistributed DYP rewards, the DeFi yield protocol will vote on whether to distribute the remaining tokens to holders or burn the tokens from circulation. Thus the protocol is able to mitigate against inflation and maintain the price of DYP token.
To start providing liquidity and earning ETH rewards, you must deposit your liquidity provider tokens (Uniswap LP tokens) into the corresponding initial list of pools: DYP-ETH, DYP-WBTC, DYP-USDC and DYP-USDT.
Each pool has four different staking options, with rewards starting from 30,000 DYP up to 100,000 DYP each month which depends on the lock time that ranges from a minimum of three days up to 90 days.
About DeFi Yield Protocol
DeFi Yield Protocol is a decentralized finance protocol that aims to offer impressive yields for users while reducing the risk associated with risk farming. This is achieved using an anti-manipulation that ensures that all pools are safe from whale manipulation.
Pool regards are automatically converted from DYP to ETH at 00:00 UTC, and the system automatically distributes the rewards to the liquidity providers. This feature is excellent because the network’s liquidity will be fair to all participants; no whale will be able to manipulate the price of DYP to their advantage.
DYP Finance offers a utility token that enables users to interact with the features on the DYP smart contract. Ethereum miners can join the DYP mining pool and get rewarded monthly with a 10% bonus from the ETH monthly income earned by the pool.