Binance released its highly anticipated proof of reserves (PoR) on Friday, providing blockchain-based evidence for the Bitcoin on its books. However, many in the crypto community question Binance’s approach, and aren’t fully convinced that they have the transparency they’re looking for. The Move to Proof of Reserves As Binance explained in its announcement, the exchange’s transparency system will add multiple tokens and networks within the next two weeks. For now, it solely validates its Bitcoin holdings. The company’s initial audit…
DeFi Yield Protocol (DYP) announced on Twitter that it would soon introduce a Launchpad to its ecosystem. According to the 5th September tweet, the Launchpad will introduce some critical features, which should serve as a gateway for high-quality crypto projects.
The Launchpad should be an excellent addition to DYP’s decentralized tool dashboard. Also, it brings together all the ecosystem’s advanced features. As of now, the platform consists of DYP Locker, Yield Farm Data, and Decentralized Score. These elements help crypto investors make informed choices. The Launchpad will especially attract angel investors. Additionally, it should appeal to crypto enthusiasts who prefer onboarding a project in its early stages.
Key Features of the Launchpad
The Launchpad will provide a platform for the crypto community to learn about new crypto projects. Therefore, DYP is not taking any chances on the projects going live on the Launchpad.
One of the critical features of the Launchpad is that of mandatory smart contracts audits. The Launchpad will also feature Know Your Customer (KYC) checks for the project teams to ensure their legitimacy.
Additionally, the Launchpad will include team tokens, which will be locked in contracts. It will also have locked liquidity that will use the ecosystem’s vault feature, DYP Locker.
Reactions from the Crypto Community
Generally, the DYP users embraced the news of the upcoming Launchpad. On Twitter, many of them commented positively under the tweet announcing the Launchpad.
Some users expressed that they couldn’t wait to use the Launchpad. Meanwhile, others pointed out that DYP was about to launch another great product.
Overall, the DYP users were ecstatic with the news. So, it’s safe to say that the community anticipates the impending launch.
More on DYP
DeFi Yield Protocol is a decentralized ecosystem that offers several solutions for staking, yield farming, and NFTs. The ecosystem comes with advanced tools that users can leverage to get the most out of DYP.
DYP is a growing project with a unique approach. For example, the platform was the first to reward DeFi users in Ethereum, BNB, and AVAX. Recent statistics show DYP paid 8,756 ETH, 6,840 BNB, and 10,464 AVAX to farmers in 8 months. That sums up to $34,165,268. The open-source ecosystem has rallied an incredible community behind it on Twitter, Telegram, Discord, and even GitHub.
The DYP team has partnered with some influential names in the crypto industry to support its continuous growth. Just recently, the platform added Chainlink and Avalanche integrations. Although the platform started operating in 2020, it has had tremendous growth, and some users speculate that it could grow to 1.000x.