The DYP Earn Vault is an automated yield farming contract with Compound Protocol integration and support for ETH, WBTC, USDC, USDT, and DAI markets. When users and applications supply an asset to the DYP Earn Vault, they begin earning a variable interest rate instantly.
The users deposited funds are forwarded to Compound for respective cTokens held by the smart contract. The interest from Compound is entirely distributed to the users!
The DYP Earn Vault offers four different lockup durations for each market: 3, 30, 60, and 90 days.
Besides the interest earned from Compound the Vault uses some extra strategies in order to increase the APY for each market:
- 0.3% fee for withdraw (75% distributed pro-rata among active vault users, whereas the remainder 25% is used to buy back DYP from Uniswap and burn it)
- ETH fee equivalent to 400k gas at current Gwei price for deposits and withdrawals (75% distributed pro-rata among active vault users, whereas the remainder 25% is used to buy back DYP from Uniswap and burn it)
- Fixed APY between 2.5% and 18% from the current staking strategies for each pool, in DYP according to Uniswap price of DYP
- Reinvest the DYP rewards into fixed staking with a 35% APR for a 4 months Lock Time
How to Supply a Supported Asset to the DYP Earn Vault
The following tutorial will run through an example of adding a supported asset to the DYP Earn Vault using MetaMask:
- You should click the following link: https://dyp.finance/#/vault or directly visit the Vault app https://vault.dyp.finance/
2. Now, you should click ‘’CONNECT WALLET’’ and log into your MetaMask wallet.
3. Now you can see the supported markets, I will choose WETH Vault.
4. You will have the following options:
- WETH vault with 3 days Locking and 3% APY
- WETH vault with 30 days Locking and 8% APY
- WETH vault with 60 days Locking and 11% APY
- WETH vault with 90 days Locking and 13% APY
5. I will choose WETH vault with 60 Days Locking and 11% APY
6. Now, I need to click MAX and Approve the transaction!
7. Once the transaction is approved, I need to click Deposit and confirm the transaction!
NOTE: The displayed fee was $310.89, but it charged me ONLY $183.70; this happens because MetaMask estimate more gas then required in order not to fail the transaction.
8. Now you can see your WETH deposited; Congratulations! You are now earning a passive income!
Here are some information regarding the REWARDS displayed in your Vault dashboard:
- WETH worth DYP refers to the fixed APY between 2.5% and 18% from the current staking strategies
- ETH refers to the ETH fee equivalent to 400k gas at current Gwei price for deposits and withdraw
- WETH (Compound) refers to the interest earned from Compound
- WETH refers to the 0.3% fee for withdraw
Don’t forget that you can also reinvest the DYP rewards into fixed staking for an extra 35% APR for a 4 months Lock Time!