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DeFi Yield Protocol is Turning Heads in 2021: A Look into New Developments

Team Bitcoin Daily

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Decentralized finance is the latest booming development in the cryptocurrency space, with DEXes snowballing. DeFi Yield Protocol (DYP) is a unique protocol that allows any user to provide liquidity, get ETH as returns while maintaining the token price. Unlike some DeFi user interfaces, the DYP interface is quite simple and can accommodate both new and experienced yield farmers.

DYP was launched in the third quarter of 2020 and has grown significantly since then. The company currently has more than $ 56 million in Total Locked Value (TVL) and has paid a total of 4,769.41 ETH ($6,326,052) to liquidity providers during the period. Investors can earn up to 100.14 ETH in just 24 hours, making it one of the best farming protocols out there. The coming month, March, will see DYP bring significant updates to its platform. Here’s what you should expect:

DYP Earn Vault

The DYP earn vault is an automated yield farming contract. For a deposited particular token, the protocol automates a yield farming plan of action by transferring provider funds between the highest profit platform generators. The feature will go live between 20 March and the 25th.

75% of the profits will be converted into ETH and distributed to liquidity providers. In comparison, the remaining 25% will buy back the protocol’s governance token to increase liquidity and maintain token price stability.

DYP earn vault offers support for five tokens, including ETH, WBTC, USDC, USDT, and DAI. Liquidity providers can use their tokens for 3, 30, 60, 90, and 120 days.

New Staking Pools on PancakeSwap

According to the DYP roadmap, in the first quarter of 2020, they listed adding staking pools.

PancakeSwap prides itself on being faster and cheaper than Uniswap. The decentralized application (Dapp) introduced in late 2020 has grown to become one of the largest in BSC. It is in direct competition to other well-known projects such as Uniswap and Sushiswap.

By leveraging PancakeSwap, users can take advantage of all DeFi features from token swapping, staking, farming to NFT. It offers an automated market maker (AMM) working under a smart contract and opens up the world for consumers to enjoy a large and attractive world of DeFi. The relationship with Binance offers the decentralized exchange an extensive network of assets, scalable, and low fees.

DYP Tools

Users should expect more DYP tools from 25 March – 30 March, including custom DEX tools dashboard and DEX project information for DYP DEX users. The tools put together open-source data cached from the latest liquidity providers and decentralized exchanges (DEX). The information will be available on the custom DEX tools dashboard hence helping the investors make informed decisions to see maximized yields. 

The DYP tools will also be linked to Uniswap, enabling users to view and explore pools/pairs on the exchange and access trading charts and DEX real-time info for all listed projects.

By tapping into the DYP liquidity locker, the tools will generate a 100% decentralized trust score. The trust score is computed based on general criteria, including a project’s contract security audits and liquidity on Uniswap.

Ethereum Mining Pool

One of the events planned for the first quarter of 2021 is implementing the ETH Mining Pool created with an investment of over $ 1 million.

Participants in the ETH mining pool stand to receive a monthly bonus of 10% of ETH monthly income. For example, if the ETH price is $ 1000, the DYP price is $ 5, and the user’s estimated monthly income is 1 ETH, then each address of the miner who interacts with the DYP smart contract will receive one monthly bonus of 20 DYP tokens worth 100 US dollars.

To claim monthly DYP tokens, users must first join the DYP set, no fee ETH mining pool. With this, they get to earn more ETH monthly.

The ETH mining fund and yield farming provide all miners with a monthly DYP bonus of 10% + 0% mining fees. The mining pool bonuses pay a maximum amount of DYP with a Price Impact of -2.5%.

The DYP team is waiting to achieve 250 GH/s; the Hashrate to roll out a mining pool. So far, the protocol has managed 35 GH/s Hashrate from miners.

DYP Lending

Next up is DYP lending that is expected anytime from 20 April – 25 April. Using smart contracts in projects allows consumers to pool their assets and distribute them to borrowers, using the credit rules set out in the contract.

With DYP lending, consumers can borrow or lend DYP tokens in a completely decentralized manner. Consumers who wish to become lenders send their tokens to a specific money market and receive interest on their tokens depending on the APY. Automatically, the platform calculates it when the smart contract converts DYP to ETH at 00:00 UTC.

New CEX Listing and Bridge Between BSC and ETH

The DYP platform hopes to issue its tokens on more exchanges. Last year it made its first listing on Uniswap as it is the leading DEX exchange for DeFi projects with high real liquidity. According to DYP, it is sure that more CEX exchanges will come. DYP has said that the top 50 exchanges have contacted them for listing. 

The DYP team has also launched a bridge that will allow users to switch DYP between the Binance Smart Contracts (BSC) and the Ethereum Networks.

As an Ethereum based platform, DYP users enjoy maximum interoperability in the market. You can use your token on other DeFi platforms that support this unique financial instrument. You can also store your DYP tokens in an ERC-20 compatible wallet.

Summing Up

With the ongoing updates, we can expect the protocol to receive more attention from the crypto community. For the rest of the year, the protocol expects to launch a new Ethereum mining pool after Ethereum moves to PoS to provide built-in insurance for all DYP liquidity providers and further extension and project growth in different areas. 

DeFi Yield Protocol aims to handle whale manipulation and impermanent loss and make the space more accessible to a larger pool of users. Its solutions also aim to automate the yield farming process, providing optimal returns for liquidity providers, which are the industry’s cornerstone.

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EXOLO’s Triple Success: Revolutionizing Crypto at Key 2024 Events

Crypto Chain Wire

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In a year marked by extraordinary advancements in the cryptocurrency sector, EXOLO has solidified its position as a frontrunner in innovation, security, and transparency. Their participation in three prestigious events – TOKEN2049 Dubai, Hong Kong WOW Summit, and Crypto Expo Dubai 2024 – highlights their commitment to transforming the digital finance landscape and showcasing pioneering security measures and transparent operations.

TOKEN2049: Pioneering Security in the Crypto World

TOKEN2049 was a significant milestone for EXOLO, held from April 18-19, 2024. The event attracted over 10,000 attendees from more than 4,000 companies worldwide. EXOLO’s booth showcased cutting-edge security technology through an engaging mind game, highlighting their 7-layer security system. EXOLO’s speaker’s address on the aftermath of the FTX collapse and the importance of “proof of reserves” resonated with the audience, emphasizing their dedication to transparency and security.

The event’s after-exhibition party, sponsored by EXOLO, was a perfect opportunity to deepen connections with industry leaders, including influential venture capitalists and Key Opinion Leaders (KOLs). EXOLO’s active participation underscored its role as a pioneer in integrating advanced technology with core financial principles.

Hong Kong WOW Summit: A Milestone in Web3 Revolution

Sponsoring and participating in the 2024 Hong Kong WOW Summit was a key milestone in EXOLO’s Web3 revolution journey. The summit provided EXOLO with an unmatched opportunity to engage directly with industry leaders, forge valuable connections, and showcase innovations. Their exhibition booth, a vibrant hub of engagement and excitement, drew attendees into a unique experience, reflecting the innovative spirit at the heart of EXOLO.

EXOLO’s speaker’s presentation at the summit delved into the evolving economy, institutional adoption of Bitcoin, and the implications of major crypto entities’ collapses, providing profound insights into the shifts and trends shaping the financial future. His interview highlighted EXOLO’s mission to innovate safely and transparently, celebrating the growing acceptance of crypto by once-skeptical institutions.

Crypto Expo 2024: A Showcase of Transparency

Crypto Expo 2024 brought together the brightest minds in the crypto universe. EXOLO’s booth, designed with a transparency theme, stood out for its cutting-edge security features and engaging interactions. Visitors praised EXOLO’s 7-layer security system and the proof of reserve consensus mechanism, which set them apart from other exchanges. The booth’s design and technology received huge compliments, reinforcing EXOLO’s reputation for prioritizing security and transparency.

A Unified Vision for the Future

EXOLO’s consistent performance across these events highlights their unwavering dedication to security, innovation, and transparency. By implementing a robust 7-layer security system and adopting the proof of reserve consensus mechanism, EXOLO ensures a secure and transparent platform for all users. These features, combined with their regulatory compliance, make EXOLO one of the most trusted crypto exchanges in the market.

About EXOLO

EXOLO is at the forefront of the cryptocurrency exchange industry, offering one of the most secure trading platforms worldwide. With advanced security measures and a strong emphasis on transparency, EXOLO is dedicated to providing a safe and robust platform for digital currency transactions. For more information, visit EXOLO’s website.

By excelling at these landmark events, EXOLO has solidified its reputation as a leader in the cryptocurrency exchange space. Their commitment to innovation, security, and transparency continues to drive them forward, ensuring they remain at the cutting edge of the digital finance revolution.

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Press Release

3000+ Attendees Hail Crypto Expo Dubai 2024 as a Resounding Success.

Crypto Chain Wire

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The highly anticipated Crypto Expo Dubai 2024 commenced with remarkable enthusiasm and energy, marking a successful event with more then 3000+ Attendees, 50+ Speaker, 50+ Sponsors. Industry leaders, innovators, and enthusiasts gathered at the event to explore the future of cryptocurrency and blockchain technology.

The Expo featured an array of influential speakers who shared their insights and visions, captivating the audience with their knowledge and experience. Notable speakers included:

  • Ahmed Elmetwally, CEO & General Director, Private Office of Sheikh Mohamed Bin Ahmed Bin Hamadan Al Nahyan, who delivered an inspiring keynote on the transformative power of blockchain in the UAE’s financial landscape.
  • Peter Peng, Founder & CEO of GPT Protocol, provided an engaging talk on the advancements in AI and blockchain integration.
  • Pekka Kelkka, Founder, web3 advisor, and educator at Papa Blockchain talked about in a panel Pushing the boundaries of Web 3 innovation – How to build a successful WEB3 brand – Digital Identity in Web 3.0: Privacy, Security, and Self-Sovereignty
  • Belal Jassoma, Director of Ecosystems at DMCC, discussed the pivotal role of Dubai in fostering a thriving crypto ecosystem.
  • Sasha Ivanov, Founder of Units Network, shared his vision for Re-staking and Endgame for Blockchain Scalability: extended consensus and proof of re-stake.
  • Arthur Azizov, CEO of B2Broker, highlighted the Revolutionizing Finance: The Power of Digital Assets in Brokerage
  • Serena Sebastiani, Director of Financial Services Advisory and Virtual Assets Consulting Lead at PwC Middle East provided expert insights discussed in a Panel about Blockchain Shaping the Future of Decentralized Technologies and Beyond.
  • Anton Patrynika, Founder of Haust, talked about DeFi Dilemmas: Navigating the Wild West of Decentralized Finance.
  • Myriam Ben Sayeh, Director of Product Management at Mastercard, discussed in a Panel about Blockchain Shaping the Future of Decentralized Technologies and Beyond.
  • Paul “The Profit” Dawalibi, CEO of Holodeck Ventures, captivated the audience with his strategies in a panel about Metaverse 2024: Forging the Route to a Novel Reality in Cultural and Entertainment Spheres
  • Max Lighter, General Manager MENA & CIS at XT.com, who delivered a keynote on Tokenization Revolution: Building Tomorrow’s Financial Landscape
  • Pratik Gauri, CEO of 5irechain, provided a visionary outlook on Blockchain for Sustainability: Exploring Decentralized Solutions in the Fifth Industrial Revolution

The exhibition floor buzzed with activity as attendees explored the latest innovations from leading exhibitors, including MULTIBNK, EXOLO, HASHAI, BST, and CRATD2C. These titans showcased cutting-edge technologies and solutions, further solidifying Crypto Expo Dubai as a premier event in the crypto space.

Highlights:

  • Inspiring Keynotes: Industry leaders presented groundbreaking ideas and future forecasts.
  • Innovative Exhibitions: Attendees engaged with the latest products and services transforming the crypto landscape.
  • Networking Opportunities: Professionals from around the world connected, fostering collaborations and partnerships.
  • Interactive Workshops: Participants gained hands-on experience and practical knowledge from experts in various fields.

George, chief operating officer at multibank.io commented, ” Our booth’s attracted substantial traffic despite the summer season, and the turnout has exceeded our expectations. This being our first expo, we’re eager to participate in future Crypto Expo Edition and see continued innovation in the expo experience.”

Bumi Kamesh Manchal, Head of Growth at EXOLO Commented “The organization of Crypto Expo Dubai 2024 was excellent. As a representative of Exolo, I had the opportunity to connect with fantastic people and potential partners. The event set a high standard for future expos, and we received an incredible response at our booth. I look forward to participating in future editions with my team.”

Charles Cieters, Co-Founder/Core BIZ ADV, CratD2C commented, we are very pleased with the event’s setup and the organization of our booth, which was exceptionally well managed. The management team was excellent, and we had great interactions with attendees. This being our second participation, we are definitely looking forward particate in future Crypto Expo editions.

Crypto Expo Dubai is a premier event that brings together the brightest minds and leading voices in the cryptocurrency and blockchain industries. Held annually in the vibrant city of Dubai, this expo serves as a global platform for industry professionals, investors, enthusiasts, and innovators to converge and discuss the latest trends, technologies, and developments in the crypto space.

For more information, visit https://cryptoexpodubai.com/ .

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Memecoin Madness: Eddie Seal Team Insults Investors and Returns Money from Presale

Crypto Chain Wire

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Two weeks ago, the Eddie Seal memecoin project ($EDSE) began raising funds for development through a presale event. On Wednesday, a controversial post appeared on the project’s Twitter, where the team labeled the presale investors as ‘morons’.

“You morons. You invest in a presale of a new memecoin and then cry when someone runs off with the money. Get a grip and be careful because 99% of presales are scams. We have returned all the payments to the wallets from which they were sent. Eddie will proceed without a presale!” reads the tweet from Eddie Seal profile.

This incident is quite unusual, given market norms. Memecoins are not financial instruments, hence funds raised through presales are not regulated in any way. It is unprecedented for a project team to refund all investments made by individuals.

The refund might have been an attempt by the Eddie Seal team to build credibility within the crypto community, especially as Eddie Seal has announced six marketing rounds aimed at reaching a $1 billion marketcap. The campaign will culminate in an Eddie Seal cartoon, in the style of Rick and Morty or Family Guy. The six marketing rounds include sponsoring a Formula 1 team, a Harry Styles (or another top tier star) concert at Wembley with tickets for $1EDSE, a ‘spending money competition’ with 10,000 credit cards linked to one account, and a $3 million donation to MrBeast for spending in one of his videos.

It was also announced that the team plans to distribute part of the $EDSE tokens to the community gathered around the project in the form of an AirDrop. Sign-ups are expected to start soon.

The price of the $EDSE token in the coming days will reveal how the market has reacted. The token contract address for price tracking is available at eddieseal.org or listed here: 2Zvo6bnwJtyXhsPgbcfajTrEtB7NwrJhK8mMmtEXvHHc

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