DeFi Yield Protocol (DYP), a unique protocol that offers users solutions for crypto yield farming and staking, recently launched its new NFT Marketplace that facilitates creators and collectors to mint and trade non-fungible tokens.
The marketplace allows users to create and sell their unique digital artwork on Ethereum. It will soon expand to Binance Smart Chain (BSC) and Avalanche (AVAX), enabling any user (artist or not) to transfer their NFTs between the three blockchains.
DYP users can finally enjoy unique, digital ownership rights in a thriving NFT marketplace. The robust integration of an in-built NFT marketplace on DYP is a significant milestone for the digital collectibles space. It introduces an environmentally friendly approach and lower transaction costs.
Creators will only be charged a 0.30% payment to sell their digital artwork on DYP’s NFT dApp, a factor that distinguishes it from other rival NFT dApps in existence today.
To celebrate the launch of the NFT Marketplace, DYP has introduced a creative competition that invites NFT creators worldwide to use their imagination and creativity to come up with unique collectibles.
Participants in the creative contest stand to share a $50,000 Prize Pool. The NFT competition kicked off on July 12 and continues until at least 1000 NFTs have been created.
The DYP token powers all products in the DeFi Yield Protocol and is a requirement for entering the ecosystem and unlocking an unprecedented level of security for projects and individual asset holders. The governance token now has a new use case in facilitating users to pay transaction fees for NFT smart contract operations in the ecosystem.
The protocol’s native token also has multiple use cases in liquidity locking on the protocol, earn vault strategies, and the DYP referral system. The token is also a requirement for subscriptions to the DYP Tools Premium. This service increases use cases for the DYP token while allowing the platform to provide a liquidity locker for any DeFi project.
The DYP Launchpad v1.0, which is currently only available on Ethereum, is scheduled to launch on AVAX and BSC, offering multiple tiers based on the amount of locked DYP. Staking services from the DeFi Yield Protocol are also coming to BSC and AVAX very soon!
Apart from the use cases mentioned above, the DYP token is a requirement for entering the DeFi Yield Protocol ecosystem and unlocking an unprecedented level of security for projects and individual asset holders.
DYP started offering its yield farming solutions on Ethereum, becoming the first and only protocol to reward users in ETH. The protocol has since expanded to BSC and is now looking to build its extensive features on Avalanche to become a leading cross-chain DeFi platform.
The latest development from DYP is the strategic partnership with Pangolin Exchange, a premier decentralized exchange (DEX) on the Avalanche Network. The move will bring users and liquidity from other networks onto Avalanche and into the Pangolin DEX.
DYP enables DeFi enthusiasts from Avalanche, the fastest smart contracts platform in the blockchain space, to earn up to 330.53% APY. The AVAX/DYP pair in Pangolin already has over $500,000 in liquidity just one week after DYP launched on Avalanche.
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