A yield farming platform has announced that it is expanding to Avalanche.
DeFi Yield Protocol — known as DYP for short — says the move will mean that its advanced trading tools are available to a greater cross-section of users.
Three of its products are initially going to be available: DYP Farming, DYP Tools and DYP NFTs.
Flexible staking terms are offered through DYP — and this means that tokens can be locked up for three days, 30 days, 60 days or 90 days.
Through DYP Tools, advanced features are offered that allows users to track tokens, access yield data and monitor whale transactions.
This service is expected to arrive on Avalanche in the third quarter of 2021 alongside DYP NFTs — allowing artists to mine, trade and showcase their creative works with low fees, near-instant finality and technology that’s eco-friendly.
DYP’s CEO Mihai Nicusor Busica says his project’s ultimate goal is to level the playing field between everyday crypto consumers and whales.
He added: “Security and transparency have been top priorities for our project since the beginning, so it is absolutely critical to build on a fully-decentralized platform in Avalanche.”
Curbing the influence of whales
DeFi Yield Protocol offers an anti-manipulation feature that is designed to curb the influence of large whale users, limiting the market impact associated with cryptocurrencies being converted.
The end goal is designed to deliver stability, fair access to liquidity and a secure, simplified DeFi platform that meets the needs of all users — irrespective of their size.