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DeFi Yield Protocol (DYP) launches its staking and governance DApp – Cryptocurrencies

DeFi Yield Protocol staking governance

DeFi’s protocol aimed at offering impressive returns to users with minimal risk, DeFi Yield Protocol (DYP) is embarking on staking. This new adventure for the protocol was made possible in particular with the creation of a DAPP which should improve the earning possibilities of its users. In order to convince them, the protocol decided to add some unique functions to it.

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Anti-price manipulation functions of DYP

With its new game play platform, anyone who wishes can now provide liquidity to DYP. This was designed to guarantee tokens price stability for users and unprecedented security. All this will now be possible with the integration of anti-manipulation functions in the new DApp. This is a triggered mechanism by a smart contract that converts all the rewards of the liquidity pool into Ether. By using ETH for the distribution of rewards, the anti-manipulation function reduces the risks associated with the volatility of DYP prices.

This mechanism is executed every day at 00:00 UTC for the symbolic maintenance of price stability. In the event that the DYP price is affected by more than 2.5%, the maximum DYP amount which does not affect the price will be exchanged for ETH. The remainder of this sum will be taken into account in the distribution of rewards to take place the next day. If any rewards remain undistributed over a period of seven successive days, it will be up to protocol to decide their fate. This will be done in particular through a vote on the most equitable method of distributing the remaining tokens.

The arrival of voting rights for governance

This is one of the new features made possible by the launch of DYP’s DAPP. These holders will therefore now be able to decide on the addition of additional liquidity pools. They will also participate in the choice of projects that can benefit from DYP tokens as grants and will receive rewards for their contribution. To benefit from these, aspirants must first link their portfolio to DApp smart contracts and access the governance function.

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As for the provision of liquidity, participants must deposit their tokens in one of the following pools : DYP-ETH, DYP-WBTC, DYP-USDC and DYP-USDT. Each of them has for this purpose four stake options with specific compensation plans. They thus propose monthly rewards ranging from DYP 30,000 to DYP 100,000 for wagering periods ranging from three days to three months.

With this new anti-manipulation feature, the protocol will now be able to mitigate inflation and maintain the price of DYP tokens, something unprecedented in space. Challenge. This is all the more effective as it ensures that all holders have fair access to the liquidity of the network.

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