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The DeFi Yield Protocol (DYP) has announced the launch of its Earn Vault, a portal that helps users earn multiple cryptocurrencies in under 3 minutes. Earn Vault prepares users for earning cryptocurrency by allowing them to complete educational lessons and interactive flash games that teach them the ins-and-outs of DeFi. After completing these lessons, users can then enter the Earn Vault portal to play games and earn DYP, the native token of the DeFi Yield Protocol.
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Leading harvest platform DeFi Yield Protocol has launched the highly anticipated DYP Earn Vault. Vault is an automated harvest contract that is fully integrated with the Compound protocol and supports five markets, including ETH, WBTC, USDC, USDT and DAI.
Earn rewards on DYPChests
Users can place assets in the DYP Earn Vault and start earning impressive returns on their assets. One of the unique features of the Vault is its integration with the Compound protocol. When users deposit money in the vault, it is passed to the composite protocol and exchanged for the corresponding cTokens stored in the smart contract. The interest earned by Compound is then distributed to investors.
DYP Earn Vault offers investors different lock-in conditions for each of the supported markets. Users can block their tokens for 3, 30, 60 and 90 days, with the average percentage increasing with the length of the blocking period.
In addition to the interest earned through the compounding protocol, DYP Earn Vault also includes unique strategies to increase APY for each market.
A withdrawal fee of 0.3%, of which 75% is distributed to active vault users and the remaining 25% is used to redeem and burn Uniswap DYPs.
Fixed annual interest rate of 2.5% to 18% depending on the commitment period and the DYP price on Uniswap.
ETH cost is equal to 400k gas at current Gwei prices for fill and withdraw, 75% is distributed to active storage users and the rest is used to buy back and burn Uniswap DYPs.
Investors can reinvest DYP awards at 35% per annum with a lock-in period of 4 months at a fixed interest rate.
DYP’s transaction costs are higher than similar protocols due to the complexity of the protocol’s smart contracts, as it looks for the best ways for users to make money. But DYP makes up for it by offering some of the best APYs on the market.
For example, if you use the compounding protocol, you will receive an annual return of 0.12% for your ETH vault with lower transaction costs. DYP Vault offers much higher interest rates: Users receive a maximum annual return of 13% on their investment. This rate increases to 35% for DYP rewards if users choose to reinvest their interest on the platform.
This way you pay a little more than other protocols, but earn up to 1000% more in rewards, making DYP the best platform to grow your crops compared to the competition. DYP Earn Vault makes it easy for investors to take advantage of these opportunities on one convenient platform. You get the maximum benefit when you place your chips in the DYP profit vault.
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Start liquidity provision to DYP Merit Vault
To start providing and making money with DYP Earn Vault, you need to go to the Vault app. Once you have access to the Vault application, you need to attach a wallet to it, preferably a MetaMask wallet. You can then choose one of the five storage markets (WETH, WBTC, USDT, USDC, DAI).
Each contract has four options for duration (3, 30, 60 and 90 days) and APR (3%, 8%, 11% and 13%). Users can then select the number of coins to be blocked and confirm the transaction.
Users can rest assured when using DYP Earn Vault, as the money is stored safely with the latest security mechanisms. For more information about using the DYP Earnings Vault, click here.
Additional developments in the DYP ecosystem
DYP remains one of the best agricultural protocols on the market. It recently expanded its repertoire by launching its token on the Binance blockchain exchange, allowing users of the evolving blockchain network to grow their crops.
DeFi users can also use the DYP bridge, which enables exchanges between the Ethereum and Binance smart chain networks. The exchange bridge, one of the first in the DeFi ecosystem, continues DYP’s drive to become a major player in the crypto-currency space.
Remarkably, liquidity providers have earned a total of 7,892 ETH and 1,858 BNB worth $22,950,768 in just 4 months via DYP farming tools on the Ethereum and BSC blockchains.
The launch of DYP Earn Vault follows the DeFi protocol roadmap with the highly anticipated DYP Tools, the next product to be launched in Q2 2021. DYP Tools is a dashboard that gives traders and DeFi users access to tools that allow for informed investing.
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