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Today, there are many options for earning money with cryptocurrency. In the past, many traders would have preferred to simply hold on to their coins or ‘hold’ for as long as possible in order to get substantial returns on their investments. As time passed, however, there were new ways to earn more, such as farming, mining and staking.
What’s the DeFi Yield Protocol?
DeFi Yield Protocol is a unique platform that provides innovative solutions for yield farming and staking. It allows users to successfully leverage DYP’s sophisticated trading capabilities and tools in a seamless fashion.
Simply put, DYP gives its users the ability to both provide liquidity and receive rewards for their efforts. For example, ETH can be used to reward users. Concurrently, the platform is also working towards maintaining its token price stability in addition to offering security for the end users via the integration of its ‘anti-manipulation’ aspect.
Pools are getting new life
The DYP has hereby advised everyone about the new availability of pools for buying, farming and staking on BSC. If they are using the staking pool, every user can now earn 50% APR. The users are eligible to earn 100% APR when they utilize the buyback programs, as well as a maximum 500% annual percentage if farming pools were used.
Below is a list of the most popular earning methods offered by DYP for its users.
DYP Farming
One of the best ways to earn a living through cryptocurrency is farming. If someone is interested in farming using DYP they will need to remove their liquidity and retrieve their deposited assets. This is a great way to stake your assets and also farm them simultaneously. It allows you to theoretically stake your DYP tokens while using other altcoins (e.g. BUSD, ETH) for farming.
PancakeSwap V2 automatically receives liquidity from a single asset. The Staking contract also gets a deposit by using one asset. You must first use at least one supported assets to earn. This includes but is not limited BNB and CAKE as well BUSD and ETH. The users can then earn rewards in the form of DYP/ETH/WBNB.
To maintain stable token prices, smart contracts will convert iDYP payments to WBNB each 24 hours. Should the iDYP price be influenced by over 2.5%, then the highest iDYP amount that is not impacting the price would be switched to WBNB, with the leftover amount awarded in the following day’s prizes.
DYP governance will vote on the distribution of any iDYP leftovers after a week. Every token that is burned shall be taken from circulation.
Users can also opt to unstake and burn LP tokens in order to obtain all of the deposit assets.
DYP Staking
Users can also use DYP tokens to invest, as mentioned previously. Also, there is no impermanent loss. Users must allocate DYP tokens to the staking agreement to start earning. DYP allows users to choose between two staking options. Payouts can vary from 25% to 50% APR depending on lock duration. This could be from 0 to 90 days.
Moreover, the ‘REINVEST mechanism’ is included into the staking pools, allowing users to automatically add their daily rewards to the staking pool. Additionally, the ‘DYP Referral’ programme is provided to the users too, wherein if the users refer DYP to their friends, then they will immediately receive 5% of their profits every time they stake DYP. Referrals are free of gas costs and do not incur any fees.
BuyBack DYP
This option can be chosen by users because of its 100% APR in DyP. Users may deposit CAKE or BTCB, BUSD and ETH. Users must deposit one supported asset into the Buyback contract to begin earning. All assets will then be converted to DYP plus iDYP, and automatically transferred to a staking agreement.
The prizes can also be claimed electronically on a daily basis. Users can also withdraw all deposited amounts (in DYP).
Launch success and general success
When all of the information is considered, you can see why and how DYP gained so much traction. Binance Smart Chain continues to be a preferred choice of many individuals in the crypto and blockchain industry. DeFi Yield Protocol gained a critical win thanks to its successful launch.
Over $15 Million had already been transferred into the pools within a matter of hours after their launch. DYP also managed to pay 7,641 BNB, 15,611 AVAX and 9,009 ETH respectively to their respective users, bringing it to over $44, 314,000. This is why many are still bullish about this platform.
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