DeFi came into the market in 2015 with the launch of the MarkerDAO project. This launch became the genesis of great financial revolutions globally, encouraging individuals to control their wealth.
However, with praise arose issues, a major one being big market players will manipulate the token prices and gain an unfair advantage. In SushiSwap, for instance, Chef Nomi, one of the founders, caused a flash crash when he swapped all his Sushi tokens for ETH. That problem could affect any Defi platform if no precautionary measures are taken. How can investors protect themselves from manipulation while still enjoying rewards? DYP!
Defi yield protocol(DYP) is a new smart contract-based platform that decentralizes the process of liquidity provision to anyone. Small players can as well provide liquidity as the mining processes continue. Examples of pools in the DYP platform include DYP/ETH, DYP/USDT, DYP/WBTC, AND DYP/USDC pools. But how does DYP link with ethereum mining pools? How will DYP solve the problem of manipulations? Keep reading to find out more.
Ethereum Mining Pool
DeFi yield protocol is soon introducing an ethereum mining pool combined with yield farming for miners. The duo combination will aim to ensure the platform and all the miners enjoy profitability both in the short run and in the long run.
DYP has been participating in mining ethereum for several years, starting 2017 using the address https://ethminer.dyp.finance for mining. Their team members have much expertise in mining ethereum and generating profits using DYP; thus, they can help the community gain extensively.
This platform will launch its pool with a capital of 1 million USD to prove how ready they are to serve the community. To show how committed they are to serve, DYP will launch with a capital of around 1 million USD for the mining pool, thus providing the community with necessities.
Ethereum miners whose addresses will leverage the DYP smart contracts will enjoy a monthly bonus of 10% of the ETH earned income. For instance, individuals who create a monthly income of 1 ETH will enjoy a DYP token airdrop worth 10% ETH at the end of the month.
Since the earnings are from ethereum mining, persons using DYP will have to join the ETH mining pool at no cost and, in turn, enjoy an increased monthly income. The pool will start functioning once DYP gets a hash rate of 250GH/s.
Ethereum Smart Contract Base
The general DeFi world rotates around the functionality and dependence of smart contracts. DYP takes advantage of the most reliable smart contracts from the ethereum platform; thus, it will enjoy top security and immutability.
DYP developers used unpopular coding languages, including CSS3, HTML5, Ethereum Solidity Protocol, and Bootstrap, in creating this platform. The unique codes ensure there is no chance for hacking.
Sometimes, smart contracts face bugs that bring severe risks to the assets of the users. The DYP network will provide an opening for regular audits of the smart contracts, codes, and protocols, thus ensuring top security for users.
The Anti-Manipulation Feature
DYP platform will allow everyone to participate in liquidity provision and, in return, get DYP tokens as rewards. This method helps to ensure that the prices of DYP remain stable and secure.
The DYP system will automatically convert rewards from all pools, DYP to ETH, at 00:00 UTC to achieve full anti-manipulation. After the conversion, all rewards go to individual liquidity providers. Therefore, the price of DYP will remain unaltered, and the general liquidity of this platform will remain fair.
This automatic conversion solves volatility issues caused by the whales or just the market issues.
If at any point the price of the DYP token drops by around 2.5%, a maximum number of DYP, just enough not to affect the price of DYP, will be converted to ETH. The remaining bunch of DYP goes to rewarding liquidity providers the next day. DYP remains the first platform to ensure there is no chance for manipulation.
DYP Token Economics
This platform will launch with a total allocation of 30 million DYP tokens, which will become accessible within a span of 2 years. Currently, the platform's crowd sale is live, aiming to sell about 16.67% of DYP tokens' total allocation, which translates to 5,000,000 DYP.
Out of the 5 million sold to the community, DYP will distribute 16,588,800 DYP tokens to pool rewards in 60 days. After the first 60 days, DYP will distribute 5 million tokens of the 75.3% to the ethereum mining pool for 60 days. The remaining 1 million DYP will go to Uniswap liquidity during the token launch.
16.67% of the 30 million tokens will serve as part of the investors' allocation, while 8.03% allocation will cater to future team members and employees.
Final Word
Many issues are currently clouding the DeFi ecosystem, but the introduction of DYP will bring ultimate solutions to all major issues. DYP foremost introduces an ethereum mining pool, where miners will gain mining rewards while enjoying a platform free from whale manipulations.
The ethereum mining community will greatly benefit from the DYP platform runners' expertise because DYP has been mining ethereum since 2017. A miner using the DYP-ETH mining address will get a ten percent reward for every ETH profit made in DYP.
This network has anti-manipulation features that will ensure there is complete fairness in all the platform's works. The platform is currently running its crowd sale to distribute around 30 million tokens in 2 years. Defi Yield protocol is going to be the world's best-performing ethereum mining network.
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