DeFi Yield Protocol (DYP), a leading crypto yield farming ecosystem offering an innovative yet secure way for the crypto community to earn returns just grew bigger. The platform handling over $45 million in crypto assets has recently integrated Binance Smart Chain (BSC) to its staking and governance infrastructure.
By doing so, it has enabled enhanced liquidity for the community while opening doors to further innovation in the space.
With Binance Smart Chain integration, DYP users are now able to diversify their investments by providing liquidity to PancakeSwap as well as Uniswap pools and receive rewards in ETH, DYP, and BNB denominations.
The new PancakeSwap pools introduced following the latest development include DYP/BNB, DYP/ETH, and DYP/BUSD. The bridge between ETH and BSC blockchains makes DYP available on both ledgers and can be swapped for BNB at any time.
A Platform That Encourages Yield Farming
Yield Farming is an important feature of the DeFi ecosystem as it enables users to provide liquidity and earn rewards in exchange. However, the staking process on most of the platforms isn’t really that user-friendly, making it hard for those who aren’t expert crypto users to benefit from it.
DYP is presenting a solution by providing one of the most user-friendly and secure yield farming protocols in the present-day crypto market. On DYP, anyone can provide liquidity and earn rewards in ETH or BNB. With potential yields of up to 442.63% APY, the DYP ecosystem has so far paid close to $16.5 million in ETH and BNB rewards to its community.
Apart from the easy-to-use intuitive interface, the platform incorporates automated vaults and a unique Anti-Manipulation Feature that prevents the whale advantage.
The Anti-Manipulation feature automatically converts DYP farming rewards to ETH or BNB every 24-hours to prevent large token holders from dumping the platform’s native token. The conversion is carried out in such a way that the price drop is restricted to -2.5%.
With Binance Smart Chain integration, the DYP ecosystem has signaled its intention to eventually become a blockchain agnostic yield farming protocol. With sustained momentum, the platform could achieve it sooner than expected.
Start Yield Farming on DYP
DYP has recently released a detailed tutorial to onboard both new and existing users to yield farming on BSC. Users can follow the instructions to stake their BNB and DYP tokens on PancakeSwap with 3-, 30-, 60- or 90-day lock-in periods.
Meanwhile, DeFi Yield Protocol allows users to swap DYP tokens from Ethereum Network to Binance Smart Chain Network using DYP Bridge dApp. Instructions for which are available here.
DYP has few more announcements in store for the near future which will include the DYP Earn Vault that is currently awaiting a security audit report, DYP Tools, under development DYP NFT dApp V1.0, and a brand-new UI design.