DeFi Yield Protocol (DYP) follows the integration of its Chainlink price feeds with the extension to Avalanche

VALLETTA, Malta, June 24, 2021 (GLOBE NEWSWIRE) — The DeFi Yield Protocol (DYP), a top yield farming protocol that enables users to provide liquidity and earn lucrative returns, has reached another milestone. On June 23, 2021, the project announced its expansion to Avalanche, an open-source platform for launching highly decentralized apps.

The DeFi protocol’s move to build a platform on top of Avalanche will allow users to take advantage of DYP’s advanced trading tools. DYP users will also benefit as they continue to earn income from their crypto assets while taking advantage of Avalanche’s high throughput (4,500+ TPS), low fees, and sub-second finality.

Mihai Nicusor, CEO of DYP, explained that the expansion of the avalanche community offers improved functionality while strengthening the entire DeFi ecosystem. He reckoned that building a decentralized platform on top of Avalanche would also improve security and transparency for DYP.

What new products does DYP’s expansion introduce?

The extension of DYP to Avalanche, due to be completed in July 2021, will start with Yield Farming, NFT dApp and DYP Tools. These three products were developed to enrich the diverse functions of DYP.

Launching with a DYP/AVAX pair on Pangolin, the DYP Yield Farming product will offer Avalanche Liquidity Providers the opportunity to contribute to AMM pools and earn returns in DYP tokens.

The unique platform will allow users to earn daily rewards in PNG, AVAX or packaged ETH by wagering their tokens for 3, 30, 60 and 90 day durations. Users who stake longer get higher rewards.

The DYP Tools product, scheduled to launch on Avalanche in Q3 2021, will offer users similar functionality to DEX Tools. It will offer advanced features that will make it easier to track yield data, whale transactions, tokens and more, allowing investors to make informed decisions to maximize returns.

The DYP NFT dApp will provide a dynamic marketplace for NFTs on Avalanche. It will enable artists to imprint, trade, showcase and sell their creative digital artworks on an interoperable, highly scalable platform that boasts a rapidly growing network of users.

The story goes on

NFT enthusiasts will also benefit from the Avalanche ecosystem’s low fees, near-instant finality, and green technology.

DYP integrates Chainlink price feeds

The DYP team is also pleased to announce that they have integrated their protocol with the industry-leading Chainlink Oracle decentralized network. The integration brings high-quality, tamper-proof price feeds to DYP and helps secure yield farming data on Ethereum (ETH) and Binance Smart Chain (BSC) mainnet.

Sourced from premium data aggregators, the Chainlink Price Feeds will help secure ETH and BNB data values ​​on DYP in a decentralized manner. Liquidity providers in DYP farming pools can now use the tamper-proof asset data to access the exact value in USD for their ETH and BNB rewards.

The integration of Chainlink’s Oracle solution on DYP means a lot for DeFi users. It will ensure broad market coverage by providing price data that is aggregated from multiple exchanges and volume weighted to reflect current global market prices. The feeds are also resistant to flash loan attacks and are securely delivered on-chain for consumption by the DYP application.

What Makes DYP a Unique Yield Farming Aggregator?

DYP made history in the DeFi space by becoming the first and only protocol that rewards users in ETH or BNB. Since its launch, DYP has paid out 8,455.24 ETH and 4,622.56 BNB worth over $20 million to liquidity providers.

The leading yield farming platform also offers their innovative Earn Vault which integrates the Compound protocol. Investors can use the automated yield farming contract to generate higher yields than those offered on competing DeFi protocols.

In addition, the DYP platform utilizes a unique anti-manipulation feature that guarantees fair access to the platform’s liquidity by preventing whales from manipulating DYP prices to their advantage.

Essentially, the feature converts earned income into ETH or BNB and limits the market impact of whales converting pool rewards into AVAX and other native platform tokens. Users can leverage the newly launched DYP Bridge to exchange DYP tokens between the ETH and BSC networks.

DYP also offers a variety of other unique features, including an ETH mining pool and a staking dApp with an integrated recommendation system.

media contacts –

Name: Teki Kolaneci – Digital Strategy Manager
Company: DYP FINANCE
Email: [email protected]
Website URL: https://dyp.finance

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