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 Compound Protocol and supports five markets, including ETH, WBTC, USDC, USDT, and DAI.
Earn Rewards on DYP Earn Vaults
Users can provide an asset to the DYP Earn Vault and begin earning impressive yields on their assets.The Vault's integration with Compound protocol is unique.When users deposit funds into the Vault, the funds are forwarded to Compound protocol in exchange for respective cTokens held within the smart contract.Investing in Compound allows investors to maximize interest at Compound.
DYP Earn Vault offers investors different lockup durations for each of the supported markets.With rates that increase over time, users can lock their tokens for 3,30,60 or 90 days.
Apart from interest generated from 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, with the remainder 25% used to buy back DYP from Uniswap and burn it.
- Fixed APY between 2.5% and 18% depending on the lock period and the price of DYP on Uniswap
- ETH fee equivalent to 400k gas at current Gwei price for deposits and withdrawal with 75% distributed among active vault users and the remainder used to buy back DYP from Uniswap and burn it
- Investors can reinvest the DYP rewards into fixed staking with a 35% APR for a 4 months Lock Time
DYP transaction fees are higher than similar protocols due to the smart contract complexity within the protocol as it looks for the best possible earning opportunity for users.A withdrawal fee of 0.3% is applied to customers at Uniswap, with 75% of it being allocated to active vault users, with the remaining 25% being used to buy back DYP from Uniswap and burn it.
For example using Compound protocol would give you an APY of 0.12% for their ETH Vault with cheaper transaction fees.By using Compound protocol, the APY for their ETH Vault is 0.12%, with cheaper transaction fees.This is increased to 35% APR for DYP rewards if users choose to reinvest their interests on the platform.
So you may be paying slightly higher fees than other protocols but you earn up to 1000% higher in rewards making DYP a better yield farming platform than its competitors.In other words, though you may have to pay a slightly higher fee, you earn up to 1000% more in rewards, making DYP a better yield farming platform than its competitors.You get the very best value staking your tokens on DYP Earn Vault.
Start Providing Liquidity on DYP Earn Vault
To begin providing liquidity and earning on the DYP Earn Vault, you have to visit the Vault App.You maximize your value by staking your tokens with DYP Earn Vault. Begin Providing Liquidity on the DYP Earn VaultIn DYP Earn Vault, you can earn liquidity by visiting the Vault App.You can then choose from the five vault markets (WETH, WBTC, USDT, USDC, DAI).
Each market has the four staking option duration (3,30,60 and 90 days) as well as APY of (3%,8%.11%, and 13%).Each market offers four staking options with five APYs (3%,8%,11%, and 13%) as well as three staking periods.
Users can rest easy with DYP Earn Vault as funds are kept secured using the latest security mechanisms. For more details on how to use the DYP Earn Vault, click here.
More Developments in the DYP Ecosystem
DYP continues to stand out as one of the best yield farming protocols in the market.DYP remains one of the best yield farming protocols on the market.
DeFi users can also take advantage of the DYP Bridge that enables swaps between the Ethereum and BINANCE Smart Chain networks.A DeFi user can benefit from the DYP Bridge which can connect Ethereum and Binance Smart Chains.
The launch of the DYP Earn Vault follows the roadmap of the DeFi protocol with the highly awaited DYP tools, the next product set to be launched in Q2 2021. DYP Tools is a dashboard that will enable traders and DeFi users to access tools to ensure informed investments.
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