DeFi Yield Protocol (DYP), a leading crop farming platform, has partnered with KyberDMM to increase DYP token liquidity in the Avalanche blockchain. As part of the partnership, DYP and KNC tokens worth $ 300,000 have been made available as liquidity mining rewards.
A big milestone for DYP
The collaboration between DYP and KeyBDMM represents a major milestone for DYP as it continues to enter the DFI ecosystem. The two protocols agreed to run a joint liquidity mining campaign to increase the number and liquidity of the original token pool and encourage liquidity providers with attractive yields.
KeyBardMM is an innovative and capital-efficient DEX protocol that increases liquidity with enlarged pools and optimizes returns for liquidity providers with dynamic fees. As a result, DYP holders can maximize their capital usage on the KyberDMM DEX and access increased liquidity pool and dynamic fees within a secure platform.
Liquidity providers can add any amount of liquidity to the DYP-WAVAX pool at KyberDMM from 5 September at 23:00 EDT to unlock এর 300,000 in $ DYP and $ KNC Liquidity Mining Awards.
The Liquidity Mining Rewards Program will take 2 months, with the first phase starting October 5, while the second phase is yet to be decided.
DYP is ready to launch new smart contracts to improve blockchain protocols
DYP further revealed that the much-anticipated launch of its new smart contracts is imminent. According to the yield cultivation protocol, the safety audit process has begun, and smart contracts will be introduced once the audit is completed.
Smart contracts are expected to improve existing products offered by DYP by introducing new features.
For example, Agriculture dApp has been redesigned with a new feature that automatically adds liquidity and deposits Liquidation Provider (LP) tokens using a single resource.
DYP holders only need to approve and submit the LP with the smart contract of processing the remaining aspects of the transaction. The upgrade will also include the option to reinvest the rewards traded for LP.
The stacking feature has been expanded to include Ethereum, Benson Smart Chain and Avalanche Blockchain. Also, DYP smart contracts have been optimized to reduce transaction fees and increase the continuous purchase pressure on DYP for each deposit.
The buyback process has also changed and includes pending re-investment options, customized deals to reduce gas fees and more. DYP has added new functions to the governance agreement to change farms, partnerships and buyback variables based on community votes.
The new contracts will be initially unveiled in the Beyonc স্ম smart chain before moving to Ethereum and Avalanche blockchain.
A fast growing ecosystem
The DeFi Yield Protocol (DYP) continues to be at the forefront of development in the DeFi space with unique solutions for stacking, yield cultivation, buyback and much more. The project seeks to promote DFI adoption and has made significant partnerships in recent months.
For more information about DYP and any other product or feature, see the resources below:
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