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These pools arrive at a critical moment for DYP, which analysts predict will surge by orders of magnitude in the weeks to come. 

DYP's New Pools

According to a company statement, the Buyback pool will allow users to deposit various cryptos or tokens to begin earning. These include WBNB, BTCB, ETH, BUSD, or CAKE.

Upon deposit, assets are converted into a mix of DYP and iDYP tokens and placed into a staking contract. Users can then earn 30% to 100% APR, depending on how long they choose to lock up their tokens. All rewards are then distributed in DYP upon withdrawal.

Farming will provide another method for users to profit from their WBNB, ETH, or BUSD holdings. After depositing one of the platform's supported assets, users can start earning WBNB, ETH, and DYP as their rewards.

To protect from iDYP's price volatility, all pool rewards are automatically converted into WBNB. However, liquidity providers may also choose to be rewarded in ETH. Upon withdrawal, a user's funds will be 75% returned in the original deposit asset, and 25% returned in DYP.

Finally, staking lets DYP holders earn up to 50% APR with no impermanent loss. Like the buyback pool, the yield rate depends on how long users choose to lock up their holdings. It includes an integrated “reinvest” function, automatically distributing rewards back into the staking pool to compound one's earnings. 

The staking pool also features a referral program, which will grant 5% of the referred party's staked earnings back to the person who referred to the Defi Yield Protocol. This gives users the chance to profit from helping market Defi Yield Protocol to friends and family, at no gas fee.

Altogether, the buyback, farming, and staking pools accrued over $40 million in deposits within a week after launch. As a reward, DYP paid 15,867 AVAX, 7,997 BNB, and 9,032 ETH to its respective, amounting to $44,149,334 worth of tokens at the time, With such lucrative payouts, its clear to see why users – and analysts – would be bullish about the platform.

DYP Ready to Pump, According to Analysts

CryptoBusy and Crypto Hustle – cryptocurrency traders and YouTubers – released a collaborative analysis video earlier this month. They offered their predictions for which altcoins would see the greatest returns during this bull cycle. Trading for about $0.72 at the time, Busy said that DYP was “potentially a 100x altcoin or higher”.

“Great team, great whitepaper, great roadmap, and great technology behind this as well,” said the Youtuber. 

Busy called attention to DYP's anti-manipulation mechanism – which protects against the volatility of platform-native tokens used for rewards, such as BNB and AVAX – among other unique features.

Shortly afterward, DYP was deemed a “gem” investment pick by fellow trader CryptoRevolution, in his mid-November video titled “parabolic altcoin picks”. After investing in early November, the Youtuber personally saw 70% gains in DYP after only ten days.

Revolution anticipated that DYP would reach $1.28, or even $1.56 – over double its current market price. This is due to the large number of updates set to launch on Defi Yield Protocol in the weeks to come, which inspires the YouTuber's confidence in its future success. Besides an upcoming NFTs marketplace, DYP will also introduce NFT dapps, and specialized staking pools on Avalanche and Ethereum, equivalent to their new pools on BSC.

What is Defi Yield Protocol?

Defi Yield Protocol (DYP) is a multi-purpose platform for staking, yield farming, NFTs, and various trading solutions. 

Uniquely, DYP is the first Defi platform to reward users in Ether. It also features anti-manipulation protection that protects the rewarding stability for those being rewarded in not-so-stable platform native tokens, such as iDYP.

The platform primarily functions as a decentralized tool dashboard. It includes decentralized scores, trust vote systems, and yield farm data to help investors make informed decisions.

The protocol is set to release numerous features in the future, including staking, farming, and buyback pools on Avalanche and Ethereum.

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DeFi startup SyncDAO has announced that it will be partnering with MantraDAO to use their decentralized launchpad Zendit for their IDO.

Through the use of Layer 2 solutions, Zendit will help SyncDAO reach a wider audience and introduce more users to the opportunity to participate in DAO governance, an exciting new development that is allowing people the opportunity to contribute in a meaningful way to the communities they choose to be a part of. MANTRA DAO's use of proven Layer 2 scalability solutions will ensure that these services are fast and compatible between both projects.

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The partnership with MANTRA DAO is just one of several that the SyncDAO team is announcing ahead of its official launch.

SyncDAO seeks to give new users a simple introduction to DeFi where they will ultimately be able to access the best of DeFi returns from multiple protocols from inside the SyncDAO interface, saving the user from understanding the complexities of multiple platforms.

With their unique Perpetual Vault architecture, users simply stake their Perpetual Vault Tokens (PVT) to choose the return they want to earn. Working with MANTRA DAO will serve to introduce a wider community to all the opportunities of decentralized finance as well.

 

About SYNCDAO

SyncDAO is a Decentralised Autonomous Organisation (a DAO) founded by Rossco Paddison and Paul Holland. SyncDAO aims to bring DeFi to the mass market by incentivising referrals to its easy to use platform that offers the best of DeFi yield generating protocols via its Perpetual Vaults. SyncDAO is launching the first Perpetual Vault in November.

HOW PERPETUAL VAULTS WORK

The process of working with the Perpetual Vaults is easy. Users mint Perpetual Vault Tokens and deposit these into the high interest vaults. They can choose to earn interest in Stablecoins or may instead choose to be paid in a volatile currency like Ethereum, giving them the ability to continually dollar cost average into a blue chip asset that may appreciate over time.

Through the SyncDAO affiliate smart contract layer, anyone can be rewarded for referring new users to the Perpetual Vaults. These rewards will be a percentage of the interest earned on the deposits made by their referees. This is all managed in a permissionless manner through fully audited smart contracts on the Ethereum blockchain.

About MANTRA DAO

Mantra DAO is a community-governed DeFi ecosystem focusing on staking, lending, and cross-chain DeFi products. MANTRA DAO has built a suite of DeFi services including a multi-asset staking platform, money markets lending protocol, gamified lottery pool, and token issuance launchpad. The suite is natively built on Ethereum, with cross-chain products currently on Binance Smart Chain and Polygon, and is currently working on launching these services on Solana, HECO, and Polkadot in the near future.

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