DeFi Yield Protocol first AMA: Questions & Answers

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The following article will provide answers to some of the most important questions that we received during our first AMA session.

We would like to thank all the participants for their enthusiastic participation. We will announce the winners of the $1000 Ethereum prize on our Telegram Announcements Channel https://t.me/dypannouncements

Question: Weather any security audit conducted by third party in your network? “@hiall21

Answer: The first security audit by Blockchain Consilium is complete. Here you can download a copy of the audit:
https://www.blockchainconsilium.com/verification?contract-address=0x961C8c0B1aaD0c0b10a51FeF6a867E3091BCef17

The second audit is coming from PeckShield before 29th of October

Question: Currently there are 208 Active Ethereum Miners, which is equivalent to 35 hash powers, and need at least 250 hash powers which would equivalent to around 1.5k of active miners to fully execute the Ethereum mining pool feature, My questions is what if that requirement(250 hash power) does not meet, would you it be still implemented? “@kram02

Answer: We are sure that we will meet the required Hashrate of 250 GH/s considering that the total Hashrate of the existing miners is 268,654 GH/s and we will offer the best Mining pool solutions with 0% fee, DYP bonus, and possibility to earn more ETH with the Stake and Vault features. In case we don’t meet the required Hashrate, the Mining pool would still be launched.

Question: What do you think of the advantages of DYP mining Pool and what makes it more profitable than regular staking or mining?”,”Is ethereum Mining Pool exclusively just for Ethereum Miners who uses rigs to mine? “@kram02

Answer: Every Ethereum miner address that interacts with our smart contract and starts using our mining pool will receive a 10% monthly bonus of the ETH monthly income earned.
Also, all the miners who use our pool will be able to automatically provide liquidity to participating pools and earn more ETH from the DYP rewards and with DYP earn vault.
Yes, the Ethereum Mining Pool is exclusively just for Ethereum Miners who uses rigs to mine Ethereum.

Question: What are the strength and weaknesses of this project? And will be this more reliable than others?, Can i expect a bigger things to improve your service after the crowd sale?? how and why??,There were so many defi that a project offer but why do we invest at defi yield protocol and what makes it unique to other project?,”@happy1813"

Answer: For the moment, DYP doesn’t have any known weaknesses, the strength of DYP:
Security and transparency on first place — security audit for every smart contract, full project uploaded on github for transparency
Thinks to improve after Crowdsale: initial liquidity locked on Uniswap for 1 year; 25% from the funds raised during the Crowdsale can be used for token buy back if need it, if not the funds are locked; 10% for marketing extension and listing on CEX exchanges; extra funds allocated for platform Development during Q1/2021 — Q4/2021
Why is DeFi Yield Protocol Unique?
DYP Anti-Manipulation Feature
ETH Mining Pool
DYP Earn Vault
DYP is fully backed by an Ethereum Mining Farm with a 35 GH/s hash rate

Question: What is the main difference between defi yield protocol and other staking project?
What new features defi yield protocol provide?
How do you maintain your security and avoid rekt activities to secure liquidity providers?, “@ankit20200

Answer: The main difference between DYP and other staking project is that we offer a completely different platform with unique features like:
DYP Anti-Manipulation Feature
ETH Mining Pool
DYP Earn Vault
DYP is fully backed by an Ethereum Mining Farm with a 35 GH/s hash rate
All the smart contracts are audited before use and the staking pools use the Anti-Manipulation Feature

Question: What will %APY on staking ? What about the connection between miners and the owners wallet which method is used for that? Smartcontract or normal contract?,
What will be the miner fees in percentage of investment? Is there any more platform for mining on DYP finance in next updates or not?
Shall DYP ETH mining pool will last longer upto what date?, “@Dilmah22

Answer: For every participating pool we will have a 69,120 DYP / day reward, the exact %APY will be calculated when the smart contract converts DYP to ETH at 00:00 UTC.
The ETH Payouts are paid directly to the Miner’s wallet, 0% fees for the Mining Pool.
The 4 participating pools (DYP-ETH, DYP-USDC, DYP-USDT, DYP-WBTC) from the DYP Liquidity Mining will receive rewards for the next 60 days, after the 60 days you will be able to earn rewards through the DYP Earn Vault, for example if you want to deposit ETH, you will need to deposit half ETH and half DYP (same value) and you will earn ETH.
The DYP Earn Vault is an automated yield farming contract that allows users to deposit a particular token, for which the protocol automates yield farming strategies by moving providers funds between the most profitable platforms. Of the profits, 75% is converted to ETH and distributed to the liquidity providers, while the remaining 25% is used to buy back our protocol governance token in order to add liquidity and maintaining token price stability. In order to use the DYP Earn Vault, you will also need to own DYP.

Question: What are your expectations of DeFi Yield Protocol for November?,
What new features are coming very soon?
Should we be tuned in to expect a very huge giveaway? “EightRude”

Answer: Here are our expectations for Nobember:
-listing on Uniswap
-Stake release
-DYP Governance release
-DYP Referral release
Stay tuned for the $50,000 Giveaway in ETH for the DYP holders

Question: “Many DeFi projects run into liquidity problems. What liquidity model will Defi Yield use to increase the token value? “Can DefiYield feel safe for our assets? what technology do you use to secure our assets? How can the security structure of DefiYield not be easily hacked by hackers? “,”@Nrickanto

Answer: We will increase the token value by use case, for example you need DYP to earn ETH using the Stake and Earn Vault; you also need to hold DYP in order to Vote; The DYP Earn Vault will use 25% of the profits to buy back our token in order to add liquidity and maintaining token price stability. Also, we will increase the token value by burning tokens if the community votes.
All the transactions are done through the smart contracts, we never hold your funds. Also, Defi Yield Protocol platform runs through smart contracts. All the smart contracts are security audited before using by at least 2 different companies.

Question: “From the limited total supply, will there be any token burning in the future to reduce the total supply and automatically increase the $DYP price? Where can we buy and sell $DYP now? “,”Is there a guarantee of security on $DYP public sale? Considering how many cases of token fraud have come out of uniswap. “,”$DYP implements a public sale instead of locking up liquidity at uniswap. Is your vision more concerned with token prices than security? “,”@Elangimport

Answer: From the total supply of 30,000,000 DYP, 16,588,800 DYP (more than 50%) will be distributed for pool rewards and the community will have the power to burn all the undistributed DYP tokens.
DYP will be added on Uniswap next month, also the liquidity will be locked for 1 year on Uniswap. The Crowdsale will take place through a smart contract for security reasons.
Security comes first for us, but in the same time we use the Anti-Manipulation feature and other mechanism for maintaining the token price stability.

Question: 1.Can you give me a reason why users should hold $DYP in long term as most of the tokens these days easily lose their value so quickly and got dump.How is dypfinance $DYP stands out among others? “,”Can we know about your listing plans?Can we expect $DYP to get listed soon in huge exchange platforms like Binance, OKEx etc. “,”After successful listing of $DYP in any platform, is there any plans about staking? What can we expect from dypfinance on this? “,”@pekaheilyx

Answer: You should hold DYP for the following reasons:
-no DYP was allocated for giveaways, bounties campaign or marketing
-earn more ETH by using Stake (DYP Liquidity Mining)
-earn more ETH or other token by using DYP Earn Vault
-DYP tokens represent voting shares in DeFi Yield protocol governance
-DYP will be used after Ethereum move to PoS, we will launch a new Ethereum mining pool

Question: ,”do you plan to rebrand? the current brand seems to have been improvised.”,”do you intend to achieve total decentralization, with all decisions based on the governance token?”,”@vladimirhf

Answer: We don’t plan to rebrand, the current brand is unique and represents DYP’s vision.
Yes, we intend to achieve total decentralization, with all decisions based on the governance token.

Question: “2020/10/21 4:51:08 PM GMT+1”,”We all know, DeFi is a hot topic in the Crypto space and now a lot of DeFi tokens are popping up so it is very difficult to choose a token that is really good, Why should I choose $DYP token over the other tokens? What advantages and benefits can $DYP Protocol offer to its holders?”,”Are the management prepared for price down? How they will handle it to avoid this”,”Take us to the moon with you, $DYP😎NO QUESTION ABOUT IT”,”MI_JADE “

Answer: Here are a couple of reasons why you should choose DYP over the other tokens:
security audit for all the smart contracts
full project uploaded on github for 100% transparency
DYP Anti-Manipulation Feature
ETH Mining Pool
DYP Earn Vault
DYP Governance
DYP Referral
The price down is protected by the Anti-Manipulation Feature, we also use the DYP Earn Vault to increase the token price, and we will have a special fund that can be used for buy back of the token.

Question: “What is your methods that you use to attracts to the new users to join this project?” “@jhonbare

Answer: Besides the unique features that we offer, we will attract a lot of miners with our Mining Pool that offers 0% fee and DYP bonus. By attracting the miners(which represents a large number from the ETH holders) to our platform, we will boost the project worldwide.

Question: Even with your anti manipulation feature how can you be sure that the price of DYP will be intact and stable?”,”Will there be a limit on how many active miners can DYP platform can accommodate?”,”Can we expect that DYP will continuously reward its stakers with ETH and not DYP in the future?”,”@yutirp

Answer: We cannot be 100% sure that the price of DYP will be intact and stable, but we eliminate the DUMP risks, and we also maintain the token price stability with DYP Earn Vault by using 25% of the profits to buy back our token.
There is no limit for the Ethereum Miners that we can accommodate.
DYP will reward its liquidity providers only with ETH, we will never reward the liquidity providers with DYP.

Question: “your project detail question! 1. What can you assure us that your project is safe ecosystem data, whereas we know many SCAM projects!”,”General Questions! 2) why would you dare to do a project like that, doesn’t it make you not get a benefit.”,”General Questions! 3) good project, but shouldn’t you immediately include where your listing will be? my advice is to make it look attractive right?”,”@sukanabati

Answer: The first question was already answered, but we will provide the answers again:
DYP is fully backed by an Ethereum Mining Farm with a 35 GH/s hash rate.
security audit for all the smart contracts
full project uploaded on github for 100% transparency
initial liquidity locked for one year on uniswap listing
Of course we will get some rewards, 8.03% from the total supply will be allocated to team members and future employees: 2,411,200 DYP vested for 24 months, released monthly
The first listing will be on Uniswap because it is the most important DEX exchange for a DeFi project, big and 100% real liquidity. After the Uniswap listing, some CEX exchanges will come, we have already been contacted by more exchanges from top 50.

Question: “How does Yield farming benefits the non-miners? “,”How many ETH will be the softcap and hardcap? “,”Do you have plan to Reveal The Identity of your Team? “,”@MsMbright

Answer: The non-miners can earn ETH rewards if they hold DYP by using Stake (DYP Liquidity Mining) and DYP Earn Vault. Also, the DYP tokens represent voting shares in DeFi Yield protocol governance.
5,000,000 DYP are allocated for the Crowdsale, all the unsold tokens are burned.
Regarding the identity of our team, although DeFi stands for decentralized finance, we chose to create DYP contract with our Ethereum Miner address to share some information about us with our community.

Question: 2020/10/21 4:53:52 PM GMT+1",”How’s the DeFi Yield Protocol designed to guarantee that the team is impossible to manipulate the system? What’s the incentive mechanism?”,”How important is the community to DeFi Yield Protocol? and how can we collaborate or help share token for the development of the project?”,”What is the future trend of DeFi, in your opinion? What is the biggest flaw DeFi is facing today? And is DeFi Yield Protocol looking to solve the problem?”,”@muthunayagam3"

Answer: We are not able to manipulate the system because the project is 100% uploaded on github and every function of the system can be verified, also all the smart contracts are audited before using. The community is very important for DeFi Yield Protocol, that’s why we are developing a platform that can help the community to earn more money and minimizing the risks to maximum possible.
We think that the future trend of DeFi are the projects that can offer long term rewards with minimum risks, and this is what DeFi Yield Procol will offer.

Question: “Are you going to lunch $DYP #DeFiYieldProtocol App in the future ?”,”Q2 : Are you thinking to get into the NFTS space ?”,”Q3: Is it possible to see $DYP on #BinancesmartChain ?”,”@upcode1"

Answer: Yes, DYP Apps Development is scheduled for Q1 2021, no plans to get into the NTFS space. We will not see DYP on BinancesmartChain because DYP has plans after Ethereum moves to PoS.

Question: “It is stated in the website’s explanation that DYP will develop a unique platform that allows anyone to provide liquidity and be rewarded with DYP tokens. My question is how will the DYP team maintain the stability of their token price?”,”DYP holders can vote to allow a token burning etc. What if the DYP token holders have a plan that might be different from the DYP team’s plan, will the DYP team reject the DPY holder’s plan by making their own decisions regardless of the DYP community?”,”Does DYP have a buyback program to minimize impermanent loss from a liquidity filled by us liquidity fillers which may be due to the price of one of the tokens being destroyed?”,”@boskripto

Answer: We will maintain the stability of the token price by using the Anti-Manipulation feature (The anti-manipulation feature implemented by the protocol ensures all pool rewards viz., DYP/ETH, DYP/USDC. DYP/USDT and DYP/WBTC are converted from DYP to ETH and distributed among liquidity providers at 00:00 UTC every day. By doing so, it prevents manipulation of DYP price by whales for their benefit. The conversion of pool rewards from DYP to ETH is handled by a smart contract. With each pool generating around 69,120 tokens in rewards, the total number of tokens converted to ETH each day stands at around 276,480. However, in the event of DYP price fluctuating beyond 2.5% in value, the smart contract swaps only as many tokens to ETH as possible without affecting the token’s price and distribute them. Any DYP leftover will be distributed as part of the next day’s rewards. The protocol continues the rollover process for a maximum duration of one week, by the end of which, if there are still undistributed DYP left, will either be distributed among token holders or burnt based on the outcome of a governance vote.) and the DYP Earn Vault will use 25% of the profits to buy back our token.
We cannot change the vote of the community because the DYP Governance is using a smart contract, so we have no power in front of the community vote.
Yes, we will use 25% of the Crowdsale funds to create a buyback program.

Question: “how would you feel if you were labeled a scam?”,”how to make Defi yield more grow up?”,”@Riezamors

Answer: No hard feeling as long as we know that this is not the case.
By delivering what we promised in the Roadmap.

Question: “Will DeFi Yield Farming will be profitable for long? Is there any guarantee for long run?”,”How this project is different from other projects? “,”We got to see many rugpulls in past week/months .. How would you make us to believe in this project ? Sorry for my bad English but I am expecting for it’s long run and stability..”,”@pickmeplz

Answer: Yes, DeFi Yield Farming will be profitable for long because you will never get rewards in DYP, you will get ETH rewards. Also, after the participating pools from the DYP Liquidity Mining
will be closed, you will still be able to earn ETH rewards if you hold DYP and use the DYP Earn Vault.
All the project is fully uploaded on github for transparency so it can ve verified anytime, also all the smart contracts are audited before using.

Question: “Does one of the utility of the DYP will be used to buy hashrate in cloud mining? Does the team planning for cloud mining?”,”I have one question only”,”I have one question only”,”@Oliviaromero

Answer: No, DYP is not going to be used to buy Hashrate in cloud mining, we already own our mining farm with a 35 GH/s Hashrate that it will be used to start the ETH Mining Pool.

Question: “What are the current problems that @DeFi Yield Protocol is trying to solve?”,”Can you list 1–3 killer features of DeFi Yield Protocol that makes it ahead of its competitors? What is the competitive advantage your platform has that you feel most confident about?”,”What’s the new thing DYP is bringing in that will help DEFi go more mainstream?”,”@Du_rexie

Answer: DeFi Yield Protocol is going to prevent the whale advantage in DeFi by using the anti-manipulation feature:
-all the rewards are paid through ETH
-the DYP Earn Vault
-the ETH Mining Pool
The most important thing that DYP is bringing is the anti-manipulation feature implemented on all the protocols and the Ethereum Mining Pool that will boost the project.

Question: “Why does all pool reward converted from DYP to ETH have to take place at 00: 00 UTC and not intermittently automated since the anti- manipulation features could control over the whale advantage?”,”How does DYP intends to maintain token price stability?”,”How many DYP are available worldwide in circulation.”,”@Elijah_Asogwa

Answer: The DYP to ETH swap cannot happen before 00:00 UTC because this function is triggered externally (when someone interacts with the smart contract) and it can happen only one time in 24 hours when the rewards are distributed.
We will maintain the stability of the token price by using the Anti-Manipulation feature and the DYP Earn Vault will use 25% of the profits to buy back our token.
30,000,000 DYP have been minted at genesis and will become accessible over the course of 2 years. The 2-year allocation is as follows:
75.30% to DeFi Yield protocol community members: 22,588,800 DYP
16,588,800 DYP distributed for pool rewards over the next 60 days
5,000,000 DYP distributed to the Ethereum mining pool
1,000,000 DYP locked for one year to Uniswap liquidity on token launch
8.03% to team members and future employees: 2,411,200 DYP vested for 24 months, released monthly
16.67% to investors: 5,000,000 DYP

Question: For each platform, the factors that attract more users are: low transaction fees, high levels of security, and ease of operation. Can DYP ensure these requirements for users? “,”Community is the key to the success of projects, so besides organizing AMAs, what strategy does DYP have to reach out and exploit new investors? “@graceelim012

Answer: Yes, we ensure these requirements for users:
low transaction fees after migration from Uniswap, after the token launch we will focus on new partnerships and launching of the ETH mining pool, the miners represent the biggest ETH holders so this can really help us growing our platform.

Question: “How long will DeFi last for the coming future? Can DYP ensure its sustainability in the market??”,”How DYP differentiate itself from the likes of Uniswap which dominating the current market share?”,”What will be the roadmap for DYP moving onto the future in 1 year and also 5 years? “,”@Eve_Law

Answer: DYP is here for long-term goals, DYP will ensure its sustainability in the market by its unique features. DYP will provide much more to the community like lower fees and bigger rewards with minimum risks, once the Migration from Uniswap happens in Q1 2021.
Our Roadmap for the next 1 year:
Launch Ethereum mining pool & yield farming for miners
Launch DYP Earn Vault
Migration from Uniswap
Partnerships
DYP Apps Development
Launch New Ethereum mining pool after Ethereum move to PoS
Built-in insurance for all DYP liquidity providers
In the future we are looking for further extension and project growth in different areas.

Question: How wil the DYP anti manipulation feature work ?”,”What are the expectations in price value at the end off 2020 ?”,”What is the main diverence between the DYP ETH mining pool and other ETH pools ?”,”@Mmoraal

Answer: The anti-manipulation feature implemented by the protocol ensures all pool rewards viz., DYP/ETH, DYP/USDC. DYP/USDT and DYP/WBTC are converted from DYP to ETH and distributed among liquidity providers at 00:00 UTC every day. By doing so, it prevents manipulation of DYP price by whales for their benefit. The conversion of pool rewards from DYP to ETH is handled by a smart contract. With each pool generating around 69,120 tokens in rewards, the total number of tokens converted to ETH each day stands at around 276,480. However, in the event of DYP price fluctuating beyond 2.5% in value, the smart contract swaps only as many tokens to ETH as possible without affecting the token’s price and distribute them. Any DYP leftover will be distributed as part of the next day’s rewards. The protocol continues the rollover process for a maximum duration of one week, by the end of which, if there are still undistributed DYP left, will either be distributed among token holders or burnt based on the outcome of a governance vote.
At the end of 2020 we want a positive impact over the price and we are sure that this is going to happen because we are delivering a unique product compared with the DeFi market.
Now regarding our ETH mining pool, every Ethereum miner address that interacts with our smart contract and starts using our mining pool will receive a 10% monthly bonus of the ETH monthly income earned. Let’s say ETH price is $400, DYP price is $2, and your estimated earnings per month are 1 ETH — that means you will receive an airdrop of 20 DYP tokens worth $40 per month. To claim your monthly DYP tokens airdrop, you will first need to join our Ethereum mining pool with a 0% fee, meaning you will also earn more ETH every month. The DYP bonus will automatically be converted to ETH when you will withdraw it.

Question: Is it considered as whale holding an DYP worth 100 eth? And if someone has that big amount his rewards is bigger than other liquidity provider?”,”Does DYP will adapt in BTC mining also or other currency in the future?”,”Does the DYP team still continue the project even without reaching the soft cap?”,”@CryptoHagrid

Answer: No, you are not considered a whale if you own DYP worth 100 ETH. Yes, the rewards are distributed — disbursed pro-rata basis to stakers.
Yes, the team will still continue the project even without reaching the soft cap, the team already invested a lot of resources, time and money in the project.

Question: How will you encountwr the problem about your anti manipulation feature? Like when the whale just timing the time of the conversion from DYP to ETH so the price will be affected. Do you planned in limiting every wallet on how much DYP can he/she own?”,”@PsSTFU

Answer: The DYP to ETH swap can happen only one time per day at 00:00 UTC, we will have Uniswap Integration for calculating slippage and swapping with appropriate slippage tolerance (-2.5%), that means a whale can affect the price with maximum -2.5%. We cannot limit a wallet how much DYP can hold.

Question: Why should I use DeFi instead of BTC or Ethereum?” “DanHP”

Answer: You don’t need to chose between DYP and BTC or Ethereum, on the contrary if you hold DYP with BTC or Ethereum you will be able to earn more ETH using the DYP Liquidity Mining or DYP Earn Vault. You cannot earn rewards if you own only DYP, you will also need to own ETH, BTC or USDT for example.

Question: 80% of DEFI applications and values are on the Ethereum network, and most of the existing problems can be solved in Ethereum 2.0. Will the DeFi Yield Protocol project be in demand with the release of Ethereum 2.0?”,”Can you share what are the main token utilities and real-life usage of the token? As an investor, why should we invest in the DeFi Yield protocol project as a long-term investment? “,”What is the benefit of holding $DYP tokens? What are the benefits of long term hold of $DYP tokens?”,”@AriaCrocket

Answer: If you check our Roadmap you will see that for Q2/2021 — Q4/2021 we have ➫ Launch New Ethereum mining pool after Ethereum move to PoS. So yes, we will be in demand with the release of Ethereum 2.0
Main token utilities of DYP:
-earn more ETH with the DYP Liquidity Mining
-earn more ETH with the DYP Earn Vault
-DYP tokens represent voting shares in DeFi Yield protocol governance
Benefits for holding DYP tokens:
-no more DYP tokens can be minted
-the token price will increase by burning undistributed tokens from the rewards
-no DYP was allocated for giveaways, bounties campaign or marketing
-ETH Mining Pool will increase the token price, the ethereum miners represent the biggest ETH holders, all of the miners will need DYP to earn more ETH
These are real token utilities and real Benefits for holding DYP tokens.

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DeFi yield farming with automated vaults combined with Ethereum Mining pool

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