The DeFi Yield Protocol (DYP) has seen considerable expansion since the start of the year. The network has managed to stay in-line with its roadmap and is preparing to release a slew of new features and functionalities to its users. DYP is best known for its anti-manipulation protocols that help to protect the average users from market manipulation.
DYP started as a project that sought to leverage new technology and a unique strategy to better protect users from whale dumps. Whales are large token holders of a project. When they make moves in the market it can have a resounding effect on the average user. For example, a project's value can plummet if a major holder or even a developer decides to liquidate their holdings without warning.
DYP integrates some anti-manipulation features that make it unique in the market. For example, every day the system converts a predetermined amount of DYP into Ethereum. Depending on how this affects the overall price of the token, the network will adjust these actions to better sustain the network’s token’s value. Best of all, these actions are fully transparent with every move made on the blockchain and open to the public.
DYP is a smart-contract-based platform designed with utmost simplicity in yield farming, staking, and Ethereum mining. Platforms users freely provide liquidity and earn Ethereum, while their investments remain safe from volatility effects.
It has multiple staking and yield farming pools to help investors have alternative investment options. Although still new, DYP targets to be the best in Defi platforms.
Defi yield protocol has been gaining traction from thousands of users recently. Its accelerated growth is seen on the total value locked in the platform in less than six months. According to the DYP webpage, the TVL stands at over $40 million currently.
Staking and yield farming in the platform guarantees users some of the best rewards ever seen in crypto. For instance, as of 24th of March, the platform had distributed more than 6,401 ETH, whose USD valuation is over 10 million. On average, DYP distributes 100 ETH daily ($165k).
Since this platform is full of decentralized finance services, it will continue to attract users and generate even more rewards as it moves further.
Recently, DYP has begun to unveil some of its newer products and features to the market. These new systems provide a combination of more stability, profitability, and security. Here are some of the best new features to look out for in the coming weeks.
In an initiative to help the Defi community, DYP introduces DYP tools with unique features that help in investment decision-making. DYP tools include a pool explorer, pair explorer, and Bigswap explorer.
Some of the attributes and features introduced for the community include;
Apart from providing the tools feature, the platform helps investors on ways to DYOR before investing in any crypto projects. The platform's Twitter page has a lot of information to benefit the Defi community.
For those seeking to trade or acquire DYP more easily, the Uniswap listing was a big plus. The listing helped to secure more liquidity for the platform and open the token up to the general public. Uniswap is the largest DEX in the world according to trading volume. Listing DYP on the platform bolstered the token’s value and provided easy access to millions of users.
Following this line of thought, DYP is scheduled for listing on multiple other exchanges. While no specifics have been released, DYP is expected to see listings on some of the world's top centralized exchanges. This maneuver will help the project to attract mainstream investors and those who haven’t ventured into the DEX sector yet.
Another feature that has users excited is the DYP lending protocol. This Peer-to-Peer lending system allows regular users to lend their digital assets out to others in return for profits. P2P lending protocols are more popular than ever because they provide reliable and stable returns.
DYP's development team is well aware of the benefits gained from a multi-chain approach to the market. As such, the platform is currently working on its Binance Smart Chain and Ethereum Bridge protocol. This system will allow you to seamlessly convert your DYP tokens from either chain to take advantage of particular platforms, offerings, and functions.
This maneuver has seen growing interest as Ethereum's network is highly congested at this time. This congestion has resulted in record-high gas fees. DYP users now will have the ability to avoid these fees when they prefer. It will open the door for DYP to see trading on other popular DEXs such as the BSC-based PancakeSwap network.
The network recently started rolling out its community governance mechanism. DYP holders gain a say in the network's development. You can vote on critical upgrades to the protocol via consensus. Voters can also submit proposals and funding campaigns for review by the community. If the proposal is voted in, the network will then commence the integration.
Another exciting feature that’s worth checking out is the network's referral program. This option provides anyone with an easy way to secure some DYP tokens. Specifically, you earn 5% of your friends' staking rewards. Notably, their rewards are based on the staking period and the amount of DYP they lock up.
Now that DYP is recognized in the market, the network has begun to branch out to other notable networks. Currently, the platform is in partnership talks with a variety of established DeFi protocols to bring even more functionality to DYP holders. These partnerships will improve the earning potential for all DYP participants.
Another development worth mentioning is the creation of DYP Dapps. The network was built to encourage the developer community to play a vital role in its growth. Consequently, there are multiple DYP Dapps currently under development. These Dapps will offer users new opportunities to leverage their DYP into profits.
DYP's development team has already begun working on a built-in insurance mechanism for liquidity providers. This feature will make DYP one of the safest and most reliable DeFi projects available. While details on the new protections are scarce, it’s believed a fund will be set up to protect DYP liquidity providers from losses.
DYP's development team must be commended for sticking to their roadmap. The project has seen considerable adoption since its launch. This early success hasn’t delayed the network's development in any way. In fact, it’s helped to push the project slightly ahead of schedule.
Given the advantages one gains when they join the DYP ecosystem, it’s no wonder so many users are making the switch. You can expect to hear a lot more from this platform as more users become aware of the new features as they become available in the coming weeks.