DeFi Yield Protocol (DYP) announces the official opening of its Cats and Watches Society (CAWS) staking pool. Those holding CAWS NFTs can now stake their NFTs and get 50% APR in ETH rewards. Furthermore, those who don’t own a Cat NFT can still mint an NFT and start earning money.
This news was a much-anticipated event by the CAWS community and beyond ever since the NFT collection went live in April. Most importantly, it showcases the collection’s considerable potential, placing DYP at the industry’s forefront. With unique utility features, DYP’s CAWS could be the next Blue Chip NFTs with a groundbreaking effect in the market.
How to Earn with CAWS NFT Staking
Cats and Watches Society (CAWS) is a collection of unique, randomly-generated Cat NFTs from DeFi Yield Protocol (DYP). The NFTs amass more than 235 different attributes between them and “live” on the Ethereum blockchain as ERC-721 tokens, while the Interplanetary File System (IPFS) hosts them.
Every Cat NFT is a one-of-a-kind character boasting a unique personality, outfit, and expression, among other traits. Unlike most NFT projects, CAWS features applicability, long-term sustainability, and highly-profitable perks for those choosing to foster one or more Cat NFTs.
For instance, every new cat owner receives 10% of the minting fees and can join the DYP NFT staking pool to earn ETH rewards of 50% APR. The owners of multiple cats get a higher share in the staking pool, which means they could increase their gains. This makes CAWS one of the most convenient NFT collections to back by collectors, expert traders, or even newbie stakers.
Those who missed out on the official CAWS NFT release in April can still join the staking pool by minting an NFT. This way, they get a real chance at obtaining some of the ETH rewards. And, to make its collection even more appetizing, DYP allows users to mint new Cat NFTs for only 0.08 ETH. This low price makes joining accessible for most users and prevents whales from seizing control over the collection. Lastly, DYP does not apply any price tiers or difficult minting conditions to make Cat adoption equally affordable for everyone.
DYP is now getting ready to launch its 2D platform where CAWS holders can earn various prizes depending on their leaderboard score. The protocol also distributed 10 ETH when mining the 2,500th CAWS NFT. Currently, the team is close to mining 5,000 NFTs, a milestone that will surely bring new surprises for the holders.
About DeFi Yield Protocol (DYP)
DeFi Yield Protocol (DYP) is one of the most experienced and innovative projects in DeFi. Its goal is to promote DeFi adoption while providing optimal solutions for yield farming, staking, NFTs, and other DeFi tools.
According to this Etherscan report, the DYP founder and team bought 3.6 million DYP tokens in the last 90 days. The amount represented $450,000 at the time of the transfer and ended up under lock in the protocol's treasury. This purchase is reassuring for the community that DYP is a reliable, long-term project.
Lastly, DYP has paid over $38 million in rewards to users so far and consistently releases several functional products.
For more information about DYP and the Cats and Watches Society (CAWS) NFT collection, please follow the links below: