DeFi Yield Protocol (DYP) Staking and Governance is Now Live
This week, DeFi Yield Protocol (DYP) announced the official launch of its staking and governance protocols. DYP is a next-gen DeFi platform that seeks to level the playing field between regular investors and whales. To this extent, the platform introduces some new strategies to push ROIs to the max while reducing investor’s exposure to risks. As such, the launch of the platform’s staking and governance Dapp is a critical step on its path to success.
DYP Staking Pools
DYP staking pools allow anyone to provide liquidity to pools and earn rewards. DYP differs from the completion in that all rewards are paid out in Ethereum directly. This feature is an industry first that helps alleviate inflationary concerns while building additional value in the Ethereum network.
Additionally, all DYP staking pools feature integrated anti-manipulation protocols and 2.5% slippage. These systems reduce inflation and encourage token price stability in the market. Specifically, the protocol attempts to convert DYP rewards to ETH every day at 00:00 UTC. When the price of DYP is affected by more than -2.5%, the maximum DYP amount that does not affect the price will be swapped to ETH.
The anti-manipulation system then takes the remaining amount and distributes it in the next day’s rewards. In this way, the protocol ensures that all pool rewards are automatically converted from DYP to ETH daily. Best of all, the system automatically distributes the rewards to the liquidity provider’s wallet. DYP currently supports multiple staking pools. Specifically, DYP/ETH, DYP/USDC, DYP/USDT, and DYP/WBTC pools are available at this time.
The launch of DYP’s governance Dapp is another significant step for the platform. DYP features a decentralized governance mechanism that promotes transparency and fairness in the network. Anyone can vote on crucial issues and upgrades to the network.
Notably, the more DYP tokens you hold, the more votes you get. This strategy ensures that those who are financially vested in the network get their opinions heard. It also removes the risk of nefarious actors infiltrating the network.
DYP leverages various deflationary protocols to promote token stability. Notably, these systems work in tandem with the decentralized governance model to provide a unique community-driven approach to the market. For example, DeFi Yield protocol (DYP) users vote on whether undistributed DYP rewards get distributed to the token holders or burned. They also vote on new liquidity pools, fees, and other vital upgrades.
The entire DYP ecosystem features an autonomous design that relies on advanced smart contracts to eliminate the need for any human intervention. Keenly, the governance mechanism ensures that the DYP community writes the rules for the network. Smart contracts execute these rules, such as the payment of rewards to liquidity provides autonomously.
DYP is Just Getting Started
DYOP has an entire DeFi ecosystem in the works. The platform will support various other functionalities such as mining pools in the coming weeks. Impressively, DYP intends to reward miners monthly with a 10% bonus from the pool’s ETH monthly income.
Yield Farming is another advanced DeFi functionality the DYP users will enjoy. Farmers can stake their crypto assets to earn DYP via automated yield farming pools. The platform supports various farming pools, including DYP/ETH, DYP/USDC, DYP/USDT, and DYP/WBTC.
DYP — Stake DeFi Tokens and Get Paid in Ethereum
DYP raises the bar with its new strategy. Paying out DeFi token stakers in Ethereum is sure to spur some interest in the market. Now, anyone can earn some free Ethereum by staking their tokens on DYP.