DeFi Yield Protocol (DYP) aims to offer impressive returns to users with minimal risk, DeFi Yield Protocol (DYP) goes into staking. This new adventure for the protocol has been made possible with the creation of a DAPP that should improve the earning potential of its users. In order to convince the latter, the protocol decided to add some unique features.
Anti-price manipulation functions of the DYP
With its new betting platform, anyone who wishes to do so will now be able to provide liquidity to DYP. The platform has been designed to provide users with unprecedented token price stability and security. All this will now be possible with the integration of anti-handling functions in the new DApp. This is a mechanism triggered by a smart contract that converts all rewards from the liquidity pool into Ether. By using ETH for the distribution of rewards, the anti-handling 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 case the DYP price is affected by more than 2.5%, the maximum DYP amount that does not affect the price will be exchanged against ETH. The remainder of this amount will be taken into account in the distribution of the awards to take place the following day. If awards remain undistributed for a period of seven successive days, the protocol will decide on their fate. This will include a vote on the most equitable distribution of the remaining tokens.
The arrival of the right to vote for governance
This is one of the new features made possible by the launch of DYP's DAPP. As a result, these holders will now be able to decide whether to add additional cash pools. They will also participate in the selection 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 the DApp smart contracts and access the governance function.
As for the provision of cash, participants will be required to deposit their tokens into one of the following pools : DYP-ETH, DYP-WBTC, DYP-USDC and DYP-USDT. For this purpose, each of them has four gambling options with specific compensation plans. They offer monthly rewards ranging from DYP 30,000 to DYP 100,000 for gambling periods ranging from three days to three months.
With this new anti-handling feature, the protocol will now be able to mitigate inflation and maintain the price of DYP tokens, which is unprecedented in the DeFi space. This is a solution that is all the more effective in that it guarantees all cardholders fair access to network liquidity.
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