Buyback Tutorial for Ethereum, Binance Smart Chain, and Avalanche users
The Buyback is one of the latest products from DeFi Yield Protocol. It is a smart contract with staking integrated that offers 100% APR for the users. It is available for the users from Ethereum, Binance Smart Chain, and Avalanche network. Here you can find a list with the supported assets for each of the networks:
- Supported assets for Ethereum: WETH (wrapped Ethereum), WBTC (wrapped Bitcoin), USDC, and USDT; All the assets can be acquired from Uniswap or a centralized exchange like Binance;
- Supported assets for Binance Smart Chain: WBNB (wrapped BNB), ETH, BUSD, and BTCB (the wrapped version of Bitcoin on BSC); All the assets can be acquired from PancakeSwap or a centralized exchange like Binance;
- Supported assets for Avalanche: WAVAX (wrapped AVAX), ETH, WBTC (wrapped Bitcoin), USDT, and PNG; All the assets can be acquired from Pangolin or a centralized exchange like Binance.
To start earning 100% APR on your assets, all you need to do is deposit one of the supported assets into the Buyback contract. All assets will then be automatically converted into DYP and deposited into a staking contract.
The rewards are distributed automatically and can be claimed every day.
In this tutorial, I will deposit USDT to the Ethereum buyback contract; please note that the process is the same for all the supported chains (Ethereum, Avalanche, and Binance Smart Chain).
Note: If you don’t have a MetaMask wallet, you can check this tutorial to set up your MetaMask wallet for the first time for each of the supported chains:
- You can access the Buyback directly from our home page or visit directly https://dyp.finance/buyback.
2. Now, you need to choose the desired network and click on it, I will choose Ethereum.
3. Here you can find the details about the Buyback contract, once you are ready to deposit one of the supported assets, you need to click deposit.
4. Now, you need to click connect wallet in order to continue.
5. Once you have connected your wallet, you will have access to the Buyback Dapp; now, you can choose the asset that you want to deposit, I will choose USDT for this tutorial.
6. Now, you need to enter the amount that you want to deposit, or simple click MAX if you want to deposit the maximum available amount; I will enter USDT 100 and after that I need to click APPROVE and sign the transaction.
7. Once the Approve transaction is confirmed, you must click Deposit and confirm the transaction.
8. Once the Deposit transaction is confirmed, you should see your deposit under the stats; the rewards are distributed automatically, updated in real time, and can be claimed every day.
Congratulations! Now, you are earning 100% APR on your deposit!
About DeFi Yield Protocol
The DeFi Yield Protocol (DYP) is a unique platform that offers solutions for yield farming, staking, NFTs, and enabling users to leverage the advanced trading tools of the DYP. What makes the DYP a unique yield farming aggregator?
The DYP made history in the DeFi space by becoming the first and only protocol to reward users in Ethereum. The protocol employs an anti-manipulation feature that aims to limit the market impact on users’ converting rewards into ETH and other native platform tokens.
Anti-manipulation aims to maintain stability, fair access to liquidity, and provide a secure and simplified DeFi platform for users of all sizes.
The core feature of the DYP is the decentralized tool dashboard. It provides advanced features, such as Decentralized Score, Unique Community Trust Vote System, DYP Locker, Yield Farm Data, and LaunchPad, allowing investors to make informed decisions that maximize yields and reduce risks.