Decentralized finance (DeFi), a fast-growing sector in the crypto industry, now boasts nearly $78 billion locked in multiple protocols per the latest data from DeFi Pulse. The DeFi movement has shown no signs of slowing down during the past year as new protocols continue popping up regularly. These emerging platforms leverage decentralized networks to transform traditional financial products into trustless protocols governed by smart contracts.
Yield-farming aggregator platform DeFi Yield Protocol (DYP) is leading the charge in the new world order for the financial system by offering rewards in native tokens such as Ether (ETH), BNB and Avalanche (AVAX). The project opens the door to a booming DeFi economy that allows crypto proponents options to earn passively in a safe and secure environment.
Crypto investors on the innovative platform can earn rewards across the Ethereum, Avalanche, and BNB Smart Chain networks. DYP users choose the contract that best serves their needs and watch their wallets grow without the disadvantages of impermanent loss.
The DYP team unveils its rebranding plan
Following up on the launch of its new smart contract that optimizes buyback, farming and staking solutions, the DeFi solutions provider has now announced its complete rebranding process. The plan aims to integrate new and cool stuff that gives the DYP ecosystem fresh air and a unique perspective that will significantly impact the crypto and DeFi community.
Mihai Busica, founder of DYP, has unveiled some of the features scheduled for launch this year to create a strong brand and take the project to the next level. The team is building a new logo, website and decentralized app for users. It also intends to launch new smart contracts for yield farming, staking, borrowing and lending that allow the community to benefit from high rewards, maximizing its profits.
The dedicated team will integrate new and exciting products, including a monthly lottery and special staking pool to bring more utility and generate revenue for the platform.
The fully decentralized lottery will reward users and participants who purchase tickets with bonuses from the special staking pool. The new functions generate sustainable rewards for all users, proving the DYP protocol is here for the long haul.
DYP’s developers have reiterated their commitment to creating an original project that builds its product and smart contracts from scratch, giving the project an edge over competitor platforms that copy or use ideas from existing platforms.
DYP is developing a metaverse P2E game
The DYP team is currently designing a metaverse platform that features the Cats and Watches Society nonfungible token (NFT) collection. The feline digital collection, dubbed CAWS NFT, will bring many benefits to users and have excellent utility in the upcoming metaverse.
Crypto enthusiasts who purchase the cat that collects luxury watches will hold much more than a simple collection of digital art. They will enjoy plenty of advantages on DYP, including the ability to mint an additional standalone watch NFT for free.
CAWS NFT holders will also have access to benefits allowing them to receive a share of 10% minting fees that will be redistributed to other NFT owners.
Holders of the Funky Cat will also receive 2.5% royalties on all secondary sales after the minting process is finished and access a special staking pool. CAWS members will also be able to leverage their unique NFT Cat characters to gain exclusive access to the metaverse platform and all DYP products.
The DYP team plans to develop a virtual play-to-earn (P2E) game, which will be the main attraction of the DYP Metaverse. The virtual reality game allows users to enjoy a unique GameFi experience, interact with peers, make alliances, discover treasures and earn rewards. Gamers can invest in upgrading their tools and equipment to dig faster for treasures and collect more bonuses.
How DYP is changing the future of crypto earnings
The DYP protocol gives yield farming and staking new perspectives, empowering crypto users to earn passive income with a diverse range of products. Per a recent tweet from the team, the protocol has paid a total of 9,194 ETH, 9,949 BNB and 25,201 AVAX in rewards to users.
The project offers an annual percentage rate (APR) of up to 320% across multiple chains, backing up DeFi market participants with the capacity to lend, borrow, stake, earn interest and much more. The unique platform grants everyone with an internet connection access to transformational financial solutions such as yield farming, staking, NFTs and DYP Tools.
The latest offering from the leading protocol brings a new DYP Earn Vault that is now ready for action. The product introduces exciting features with compound integration and support for ETH, Wrapped Bitcoin (WBTC), USD Coin (USDC), Tether (USDT) and Dai. The contracts have no lock time and deliver 10% APR for ETH and BTC deposits, as well as 15% APR for USDT, USDC and Dai deposits.
