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DeFi Yield Protocol is a multi-chain ecosystem that includes income farming, a launchpad, and a metaverse. The project is not new, the team launched the protocol at the end of 2020 on the Ethereum blockchain. Later, in the first half of 2021, DeFi Yield expanded to launch on BNB Chain and Avalanche.
According to the roadmap of the project, in the second quarter they plan to launch their own credit protocol, as well as a smartphone application. Over the next two quarters, the project is going to launch its own DEX and an insurance system for liquidity providers. DeFi Yield has audits of all its smart contracts from CertiK , Blockchain Consilium and PeckShield , all available on GitHub.
The project has an economy with two tokens: $DYP and $iDYP. The total amount of $DYP tokens is 30 million: 8% belongs to the team (unlocked within 24 months), 17% - to the participants of the public sale (650,000 tokens were sold, the remaining 4.3 million were burned and withdrawn from circulation), 75% allocated for staking, liquidity and marketing. The $DYP token is traded on Gate and KuCoin as well as major DEXs: PancakeSwap , Uniswap , 1inch and Pangolin. The second $iDYP token has a total supply of 300 million and will be used later in the lending system.
DeFi Yield offers four token staking options: Stake, Farming, Vault, and Buyback.
Staking of platform native tokens $DYP and $iDYP. The highest percentages are 25% and 45% APR for $DYP and $iDYP respectively with a 90 day lock. The total TVL across all networks is $6.5 million.
The following tokens are available for deposit: $ETH, $BNB, $AVAX, $WBTC, $USDC, $USDT, $DAI, $CAKE, $BUSD, $PNG, $QI, $iDYP. When sending funds to the pool, your tokens are converted as follows:
• 75% — liquidity pair "Blockchain Native Token"-$DYP is created
• 25% - converted to $DYP and staking at low interest
The user himself can decide in which token to receive the reward: $ETH, $USDT, $AVAX, $BNB or $DYP. The highest percentages are on the Ethereum blockchain (335% APR with a 90-day lock), and non-blocking options are also available. The total TVL across all networks is $45 million.
The section is only for Ethereum, since the Compound protocol is used for work. $ETH, $WBTC, $USDC, $USDT, $DAI tokens are available for deposit, all pools are not subject to blocking. APR varies from 3% to 23% APR. Rewards are subject to a commission of 0.3%, 0.225% of which goes to rewards for pool members, and the remaining 0.075% goes to buyback and burn $iDYP. TVL is $5 million.
All tokens from the "Farming" section are available for deposits, but when you send funds to the pool, your assets will be converted into $DYP and $iDYP. There are two fixed percentage options available for staking: 76% APR with a 90-day lock and 23% APR without a lock. The total TVL is $500k.
In addition to staking, DeFi Yield has its own bridge for its tokens to all networks of the platform, launchpad (on which no project has been launched yet) , a voting section, and a system of tools for their ecosystem.
Separately, it is worth talking about the CAWS NFT collection and the future metaverse. CAWS is a collection of 10,000 cats with various attributes on the Ethereum network. Mint passed recently, the price was 0.08 $ETH, now cats are traded on OpenSea almost to zero. NFT holders will receive various bonuses, such as a 10% refund on commissions per mint, a raffle for 5 Rolex watches worth $150,000 in total, a whitelist for another NFT mint, NFT staking, as well as access to a 2D platformer game where you can play with cats. In the future, the team plans to launch a metaverse with virtual reality.
DeFi Yield can be compared to another multi-chain ecosystem, namely Hot Cross. Both projects have staking, a launchpad, two tokens, and an NFT collection. And, most importantly, both projects are going through hard times, especially in the current bearish trend.
