DeFi Yield Protocol (DYP) is Expanding to Polygon, a Full-Stack Scaling Platform
This integration enables DeFi users to benefit from DeFi Yield Protocol’s unique products while taking advantage of Polygon’s full-stack scaling solution, and application performance.
The team at DeFi Yield Protocol is continuing to explore ways of making the ecosystem bigger and better through adding more promising blockchain networks. DeFi Yield Protocol currently supports the Ethereum, Binance Smart Chain, and Avalanche networks.
Today marks yet another level of expansion for our DeFi ecosystem, as we’re expanding to Polygon to implement its network and technology on the DeFi Yield Protocol.
DeFi Yield Protocol’s expansion to Polygon is set for completion in November 2021 and will initially launch with five products: DYP Farming, DYP Staking, DYP Buyback, DYP Tools, and DYP NFTs.
DYP Farming allows Polygon users to provide liquidity to AMM pools and earn yield into native platform tokens of your choice, such as MATIC, ETH or other native tokens. Since inception, DYP has paid out over $30 Million (8807 ETH, 7297 BNB, and 11622 AVAX) in rewards to liquidity providers.
DYP Staking allows Polygon users to start earning DYP rewards by staking their DYP tokens. The staking pools have the REINVEST function integrated, it means you can automatically add your daily rewards to the staking pool.
DYP Buyback allows Polygon users to earn a 100% APR by depositing 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. Also, this contract comes with the REINVEST function integrated.
DYP Tools provides advanced features, such as Decentralized Score, Unique Community Trust Vote System, DYP Locker, Yield Farm Data, and LaunchPad. This integration allows investors to make informed decisions that maximize yields and reduce risks.
DYP NFTs will be a marketplace that allows artists to mint, trade, feature and sell their creative work to the network of users on Polygon with low fees, and application performance.
About DYP’s Anti-Manipulation feature
DeFi Yield Protocol (DYP) works to curb the influence of large whale users. The protocol employs an anti-manipulation feature that aims to limit the market impact on users’ converting rewards into MATIC 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. Learn more about this feature here.
Polygon (formerly known as Matic Network) is a protocol and framework that enhances the building of and interconnectivity between Ethereum and other compatible networks. Its full-stack scaling solution provides more efficient payment and lending solutions, token swaps, and application performance.
It was mainly designed to attract users to its platform by solving the inefficiencies experienced by users and developers on Ethereum by offering superior user experience and security.
Polygon operates using a Proof-of-Stake (PoS) Commit Chain mechanism to help increase adoption for Ethereum and has already attracted over 500 dApps to its growing ecosystem. These special chains operate as transaction networks and work alongside blockchains to confirm clusters of transactions before transferring data back to the main chain.
MATIC is the protocol’s native token that helps power and secure the underlying network, while also serving as the main form of payment for transaction fees and access for developers to build dApps.
The protocol has grown tremendously since inception, amassing up to over $7.5 billion in total value locked. Its MATIC token currently boasts a market capitalization of over $7 billion, which has grown exponentially from its near $100 million value at the start of 2021.
Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building and connecting Secured Chains like Optimistic Rollups, zkRollups, Validium, etc, and Standalone Chains like Polygon POS, designed for flexibility and independence. Polygon’s scaling solutions have seen widespread adoption with 500+ Dapps, ~567M+ txns, and ~6M+ daily txns.
If you’re an Ethereum Developer, you’re already a Polygon developer! Leverage Polygon’s fast and secure txns for your Dapp, get started here.
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.