DeFi Yield Protocol (DYP) follows up its Chainlink Price Feeds integration and expands to Avalanche | From Capital | Capital | June 2021
The DeFi Income Agreement (DYP) is a high-yield agricultural agreement that allows users to provide liquidity and obtain generous returns, which has reached another milestone. On June 23, 2021, the project Announce It extends to Avalanche, an open source platform for launching highly decentralized applications.
The DeFi protocol’s move to build a platform on Avalanche will enable users to take advantage of DYP’s advanced trading tools. DYP users will also benefit as they will continue to reap the benefits of their encrypted assets while taking advantage of Avalanche’s high throughput (4,500+ TPS), low fees, and sub-second certainty.
MihainicosoThe CEO of DYP explained that this expansion provides enhanced functionality for the avalanche community while strengthening the entire DeFi ecosystem. He believes that building a decentralized platform on Avalanche also enhances the security and transparency of DYP.
What new products does DYP’s expansion introduce?
DYP Extended to avalancheIt is scheduled to be completed in July 2021 and will be launched together with Yield Agriculture, NFT dApp and DYP tools. These three products are designed to enrich DYP’s diversified functional suite.
This DYP production of agricultural products The DYP/AVAX pair will be launched on pangolins to provide Avalanche liquidity providers with the opportunity to contribute to the AMM pool and earn DYP token revenue.
This unique platform will help users earn daily rewards in PNG, AVAX or packaged ETH by staking their tokens within 3, 30, 60 and 90 days. Users who pledge for a long time will get higher rewards.
This DYP tools The product is scheduled to be launched on Avalanche in the third quarter of 2021 and will provide users with functions similar to DEX tools. It will provide advanced features to make it easier to track yield data, whale transactions, tokens, etc., so that investors can make informed decisions and maximize yields.
DYP NFT dApp will provide a dynamic market for NFT on Avalanche. It will enable artists to cast, trade, display and sell their creative digital artwork on an interoperable, highly scalable platform that has a rapidly growing user network.
NFT enthusiasts will also benefit from the low cost, near-instant certainty and environmentally friendly technology of the Avalanche ecosystem.
DYP integrates Chainlink price information
The DYP team is also very happy Announce It has integrated its protocol with the industry-leading decentralized Chainlink Oracle network. This integration brings high-quality, tamper-proof price information to DYP, which helps protect the production and agricultural data on the Ethereum (ETH) and Binance Smart Chain (BSC) mainnets.
Chainlink Price Feeds from a premium data aggregator will help protect the ETH and BNB data values on DYP in a decentralized manner. Liquidity providers on the DYP farm pool can now use tamper-proof asset data to obtain the exact dollar value of their ETH and BNB rewards.
The integration of Chainlink Oracle’s solution on DYP is of great significance to DeFi users. It will ensure broad market coverage by providing price data aggregated from multiple exchanges and weighted by volume to reflect current global market exchange rates. These feeds can also resist flash loan attacks and are safely delivered on-chain for use by DYP applications.
What makes DYP a unique yield agricultural aggregator?
DYP became the first and only protocol to reward ETH or BNB users, thus making history in the DeFi field. Since its launch, DYP has paid 8,455.24 ETH and 4,622.56 BNB to liquidity providers, valued at more than US$20 million.
The leading yield agriculture platform also provides the innovative Earn Vault integrated with the Compound protocol. Investors can use automated production agricultural contracts to obtain higher yields than competitors’ DeFi agreements provide.
In addition, the DYP platform uses a unique anti-manipulation function to prevent whales from manipulating the price of DYP as its advantage to ensure fair access to platform liquidity.
Essentially, this feature converts the earned income into ETH or BNB, limiting the market impact of whales converting pool rewards into AVAX and other native platform tokens. Users can use the newly launched DYP bridge to exchange DYP tokens between the ETH and BSC networks.
DYP also provides many other unique features, including ETH mining pool and Staking dApp Integrate with recommendation system.