Leading yield farming platform DeFi Yield Protocol has launched its highly anticipated DYP Earn Vault. The vault is an automated yield farming contract fully integrated with the federated protocol and supports five markets including ETH, WBTC, USDC, USDT and DAI.
Earn rewards for DYP Earn Vaults
Users can provide an asset to the DYP Earn Vault and thereby generate impressive returns on their asset. One of the unique properties of the safe is its integration into the composite protocol. When users deposit funds into the vault, the funds are routed to the compound log in exchange for the respective cTokens contained in the smart contract. Interest generated from the compound is then distributed to the investors.
DYP Earn Vault offers investors different blackout periods for each of the markets it supports. Users can block their tokens for 3, 30, 60 and 90 days, with average interest increasing with the length of the blocking period.
In addition to the interest generated by the Compound Protocol, the DYP Earn Vault also integrates unique strategies to increase the APY for each market.
- A withdrawal fee of 0.3%, with 75% of the fee distributed among active vault users. The remaining 25% will be used to buy back DYP from Uniswap and burn it.
- Fixed APY between 2.5% and 18% depending on the blocking period and the price of DYP at Uniswap
- ETH fee of 400,000 gas at the current Gwei price for deposits and withdrawals, with 75% shared among active vault users and the rest used to buy back DYP from Uniswap and burn it
- Investors can reinvest the DYP premiums in fixed stakes with an annual interest rate of 35% for a blocking period of 4 months
DYP transaction fees are higher than similar protocols due to the complexity of smart contracts within the protocol as it seeks the best possible earning potential for users. However, DYP compensates for this by offering some of the best APY on the market.
For example, if you use the compound protocol, you will get an APY of 0.12% for the ETH vault with cheaper transaction fees. DYP Vault offers a much higher offer as users receive a maximum of 13% APY on their investments. This is increased to 35% APR for DYP rewards as users reinvest their interests on the platform.
They may pay slightly higher fees than other protocols, but they earn up to 1000% more rewards, making DYP a platform for better yield farming than its competitors. DYP Earn Vault makes it easy for investors to access these opportunities through a single, easy-to-use platform. You will get the best value by putting your tokens on DYP Earn Vault.
Start providing liquidity to the DYP Earn Vault
To start providing liquidity and earning the DYP Earn Vault you must visit the Vault app. Once you get to the Vault app, you'll need to connect a wallet, preferably a MetaMask wallet, to the vault. You can then choose from the five safe markets (WETH, WBTC, USDT, USDC, DAI).
Each market has a term of four bet options (3, 30, 60 and 90 days) and an APY of (3%, 8%, 11% and 13%). Users can then select the number of tokens to be blocked and confirm the transaction.
Users can rest easy with DYP Earn Vault as funds are secured using the latest security mechanisms. Click for more information on using the DYP Earn Vault Here.
Further developments in the DYP ecosystem
DYP continues to be one of the best yield protocols out there. The company recently expanded its repertoire by introducing its token for the Binance Smart Chain, offering users of the fast-growing blockchain network income farming opportunities.
DeFi users can also take advantage of the benefits DYP bridge This enables the exchange between the Ethereum and Binance Smart Chain networks. The Swap Bridge, one of the first in the DeFi ecosystem, continues DYP's drive to become a major player in the crypto space.
Notably, liquidity providers have earned a total of 7,892 ETH and 1,858 BNB worth $ 22,950,768 using DYP farming instruments on the Ethereum and BSC blockchains in just 4 months.
The launch of the DYP Earn Vault follows the DeFi protocol roadmap with the highly anticipated DYP tools, the next set of products to be launched in the second quarter of 2021. DYP Tools is a dashboard that allows traders and DeFi users to access tools to get information on investments.
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