PR: How to Use DYP to Earn Big DeFi ROIs

By Achal Arya
Published December 23, 2020 Updated December 23, 2020
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PR: How to Use DYP to Earn Big DeFi ROIs

By Achal Arya
Published December 23, 2020 Updated December 23, 2020

When it comes to securing healthy ROIs in the DeFi market, it’s all about what platform you choose and its characteristics. As of late, there has been an explosion in DeFi activities. DeFi, or decentralized finance, is a term coined to describe the act of converting traditional centralized financial services over to the blockchain. The exciting thing about DeFi is that it provides users with a host of new opportunities. 

Investors have spoken, and they are all about the DeFi revolution. Users enjoy the ability to earn interest and other returns without the need to trade their assets. DeFi services cover a broad scope of functionalities nowadays. Additionally, not every DeFi platform is created equal. The market has already seen its share of scamsters. 

To protect your hard-earned cryptocurrency, you need to stick with projects that are reputable in the sector. Never sign on to a DeFi platform promising you ridiculous payouts. These platforms are usually fraudsters attempting to take advantage of new investors’ FOMO (fear of missing out). These concerns increase as the price of cryptocurrencies goes up. 

Luckily, there are also platforms in the market that deserve praise for their security, stability, and unique approach to some of the problems facing the DeFi sector currently. DeFi Yield Protocol (DYP) is the perfect example of one such firm. DYP seeks to provide investors with more opportunity and security than early platforms. Here’s how DYP works. 

How Does DYP.Finance Work?

DYP is built atop the world’s largest Dapp blockchain, Ethereum. As an Ethereum-based platform, DYP users enjoy maximum interoperability within the market. You can store your DYP tokens on any ERC-20 compatible wallet. You can also utilize your tokens in other DeFi platforms that support these unique financial instruments. Keenly, DYP was built using the programming languages HTML5, CSS3, Bootstrap, and Solidity.

 DYP.Finance Brings Real Benefits to Users

DYP introduces several cool features to help boost your returns. This next-gen deflationary DeFi ecosystem provides you with an easy to navigate interface. From here, new users can easily find the most useful functionalities on the platform. Notably, DYP provides staking, mining, and yield farming protocols to the public.

 DYP mining pool

The DYP mining pool is one of the network’s most popular features. Mining pools allow groups of miners to work together to add blocks to the blockchain. These networks provide multiple generating clients the ability to contribute to the generation of a block. The rewards are then split between all contributing members of the pool based on their computational participation.

Solo vs. Pools

Importantly, mining pools represent the best chances of mining a block. In comparison, solo-mining, it could take over a year before you find one block. This time delay can be even longer, depending on your mining rig. Pools ensure you receive a steady and predictable ROI for your effort.

DYP mining pool members enjoy some extra benefits as well. Specifically, these users are rewarded monthly with a 10% bonus from the pool’s ETH monthly income. In this way, DYP users maximize their mining efforts and see higher rewards for their participation in the pool than earlier mining pool structures.

Advantages of Mining Pools

There are a lot of advantages gained from joining a mining pool. For one, there is way less start-up cost associated with mining from a pool. There isn’t a need for you to go out and buy an expensive mining rig. If you do purchase a high-powered rig, you can use it to join the mining pool as well.

The current market standard is ASIC (application-specific integrated chip) mining rigs. These devices can run a couple of thousand dollars and are incredibly power-hungry. For this reason, most miners seek out locations with renewable or heavily discounted electricity costs. 

Yield Farming

Yield farming is another exciting feature that users gain access to when they sign on to DYP. DYP yield farming is handled by automated yield farming contracts in the DYP ecosystem. The platform currently supports yield farming of these assets: 

  • DYP/ETH
  • DYP/USDC
  • DYP/USDT
  • DYP/WBTC 

Yield farming protocols make it easy for new users to secure returns. Versus trading, yield farming is a better option for the average user. There’s far less volatility and surprises. Additionally, your rewards are paid automatically via smart contracts. In this way, there is no human intervention required that could delay your earnings.

Governance

The entire DYP network utilizes a unique governance structure designed to give the users more control in the network’s direction. As with most DeFi platforms, you can hold the network’s governance token, in this case, DYP, to gain more say in the voting process. In the DYP ecosystem, the governance mechanism goes a step forward. It allows users to decide what to do with additional DYP tokens left over from the network’s anti-manipulation protocol.

Anti Manipulation

DYP’s developer went to great lengths to create a platform that was free from whale interference. To accomplish this task, the network automatically converts a set number of DYP into ETH daily. This conversion reduces the circulating supply of DYP in the market and helps to keep the token’s value appreciating. Additionally, all DeFi staking rewards are paid out in ETH directly instead of the network’s governance token as with the competition.

DYP – Take Your Investing Up a Notch

Understanding how to utilize DYP’s network to maximize your ROIs is an excellent way to obtain more success in your investment strategy. Deflationary protocols are on the rise in the DeFi community. However, none of these platforms offers anything as inclusive and advanced as the options DYP brings to the table. For this reason, DYP users are sure to enjoy a profitable experience when they utilize this unique protocol to further their investment strategy.

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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Achal Arya
516 Articles
I am an entrepreneur and a writer with a bachelors degree in Computer Science. I manage the blockchain technology and crypto coverages at Coingape. follow me on Twitter at @arya_achal or reach out to me at achal[at]coingape.com.

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