The DeFi Yield Protocol is developing a unique platform that allows anyone to provide liquidity and receive rewards with Ethereum for the first time. At the same time, the platform maintains both token price stability and securem simplified DeFi for end users by integrating the DYP anti-manipulation feature.
Contents:
Description of the platform
Yield farming is a way to earn crypto. It assumes that you lend your funds to others, using the magic of computer programs, called smart contracts. In exchange for your services, you receive commissions in the form of cryptocurrency.
The DeFi Yield protocol (DYP) aims to solve problems by developing a platform that allows anyone to provide liquidity and receive rewards for the first time with Ethereum. At the same time, the platform maintains both token price stability and secure, simplified DeFi for end users by integrating the DYP anti-manipulation feature.
Features of work:
| 1 | To start providing liquidity and receiving ETH rewards, you need to add your liquidity provider tokens to the appropriate initial pool list. |
| 2 | Once this is done, you will start earning DYP, the management token of DeFi Yield protocol. |
| 3 | To mitigate the risk of DYP price volatility, all pool rewards are automatically converted from DYP to ETH by smart contract at 00:00 UTC, and ETH is distributed as a reward to liquidity providers. |
Every day at 00:00 UTC, the smart contract will automatically try to convert the DYP reward to ETH. If the DYP price affects more than -2.5%, then the maximum DYP amount that does not affect the price will be replaced with ETH, and the remaining amount is distributed in the next day's rewards. Seven days later, if there are still unallocated DYP rewards, the DeFi yield protocol management will vote on whether the remaining DYPs are distributed to token holders or burned.
Additional information
There is no WhitePaper document on the site.
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