Dypius [Old] DYP
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What is DeFi Yield Protocol?
DeFi Yield Protocol (DYP) will provide a solution to the risk Yield Farming brought in. How? – The DYP is developing a platform that allows anyone to provide liquidity and to be rewarded for the first time with Ethereum. At the same time, the platform maintains both token price stability as well as secure and simplified DeFi for end users by integrating a DYP anti-manipulation feature.
How will this work?
DeFi Yield protocol (DYP) aims to change the way users earn through liquidity on Ethereum smart contract. The argument against DeFi is that whales have the power to control the network. DeFi Yield protocol (DYP) prevents the whale advantage in DeFi. DYP anti-manipulation feature ensures that all pool (DYP/ETH, DYP/USDC, DYP/USDT, and DYP/WBTC POOL) rewards are automatically converted from DYP to ETH at 00:00 UTC, and the system automatically distributes the rewards to the liquidity providers.
Every day at 00:00 UTC, the smart contract will automatically try to convert the DYP rewards to ETH. If the DYP price is affected by more than -2.5%, then the maximum DYP amount that does not affect the price will be swapped to ETH, with the remaining amount distributed in the next day’s rewards. After seven days, if there are still undistributed DYP rewards, the DeFi Yield protocol (DYP) governance will vote on whether the remaining DYP will be distributed to the token holders or burned (all burned tokens are removed from circulation).