Diana - Could you please introduce the DeFi Yield Protocol and how it was invented?
Mac - The DeFi Yield Protocol is in essence a powerful decentralized ecosystem. The DYP goal was to bring a variety of products and services, not only including traditional DeFi products like yield farming and staking products, on multiple chains BSC, Ethereum, and AVAX, but we are also constantly building and expanding the scope to include DeFi education tools that we are really proud of.
We just recently released an NFT Cats and Watches Society, and the full collection of 10k sold out. Now we have our Metaverse Play-to-Earn platform that’s gonna have virtual reality support and the ultimate goal being that no matter if you are a beginner or an advanced user, you should be able to take advantage of our services.
One of the things that DYP is historically known for is that we were the first DeFi space that not only rewarded users in real Ethereum but we actually employed an anti-manipulation feature that aimed to limit the market impact on users converting rewards into Ethereum. Anti-manipulation allowed the DeFi Yield to Protocol to maintain stability and fair access to liquidity. It provided a secure and simplified DeFi platform for users of all sizes.
One of the other things that we do that is special is we provide a core feature of decentralized tools. They are easy to navigate on a user dashboard and provide advanced features such as a decentralized score, a unique community trust system, a DYP logger, a yield farm data, a launchpad, and more.
And just to give you an idea about the team. We are fully doxxed and all of our contracts are deleted by multiple companies. Our NFT, which again sold out a full collection of 10k, just got verified on OpenSea and we have over 100 Ethereum in volume. One of the things we were most excited about was our native token, the DYP token, that just got listed on Coinbase on June 22nd. That was pretty exciting for us.
Diana - So you told us about branding, now let me ask you about your roadmap, can you share that with us.
Mac - Yes, something I would strongly suggest is to go to our website and check out our roadmap, it is so robust. Since Q3 of 2020, we have just hit all of our quarterly targets on time. The products from the roadmap have all successfully been launched. In typical DYP fashion, you’re gonna learn this the more you get into us, that we go above and beyond. We have even launched products that are not even on the roadmap, for example, we just released a 2D platform game that CAWS NFT holders can use that wasn’t even included in the original roadmap and we just keep coming up with new ideas. The team is now working on the new metaverse platform, a new game, rebranding process, new features and design improvements for the DYP tools.
Within just a couple of weeks, we expect to launch some new cool features for our DYP tools. We are gonna have partnerships that will boost the utility of the DYP token, with the goal being adding revenue that goes back into the new DPY ecosystem further.
As far as the roadmap, one of the things that impressed me when I joined the team is how committed the team is. Every single roadmap item has been delivered on time. These guys are working tirelessly, all day, all night — they never stop. The commitment is just incredible to me. I am really excited to see some of the things like upcoming mobile apps that we are gonna have for people to have access to on both iOS and Android. We’re also gonna have a multi-chain decentralized exchange scheduled later this year. So, the team is really busy but they love their work and they’re just flawless in everything they execute. It’s been really impressive to see.
Diana - Cool. So, recently you listed the DYP token, could you please tell us more about this.
Mac - The DYP token has been around since December 2020. It is the native token for the DeFi Yield Protocol. It has been listed on Kucoin in the past and is available on Gate.io. But of course, the big exciting news is that we just got listed on Coinbase on June 22nd so that's a major accomplishment for us. We definitely feel it's gonna give confidence to other exchanges that we are gonna be able to be listed on very soon.
The DYP token has a lot of utility, it’s used for our staking products and farming products and we have vaults and buybacks. The DYP also represents government proposals where the DYP token represents voting shares. Community members can vote on pools or if we should burn tokens or if we wanna spend money on grants or other partnerships. One of the cool things that I like about the DYP token is the referral program. If you have a friend who wants to come in and you both want to stake, you are both going to earn extra rewards. So, there’s a lot of cool, exciting utility behind the DYP token.
Diana - Going further, will there be any other features for the DYP token in the future.
Mac - Yeah, the DYP token is gonna be part of our new metaverse platform and the upcoming game. We have got some new products and features that are coming to the DYP tools through additional partnerships. We can't give all the details right now but there’s gonna be some exciting new utilities coming up very soon that all of our DYPians are gonna be excited to see within the next few months. I can’t wait to share more information about these things.
Diana - Now, I am looking at your CAWS collection, Cats and Watches Society, So, I like it because my Telegram username is ‘cats are everything’. So, how did your team come up with the idea of CAWS NFTs?
Mac - The original inspiration is all in-house, from Mihai and the team. We actually have a cat on our team, Daneilla. She is the most precious little thing and Mihai has been an appreciator of luxury watches for as long as I have known him. So, it was a combination of two things that the team enjoyed, cats and watches. We wanted something to be very unique, we didn’t want to be derivative. There weren't any NFTs out there utilizing watches and luxury brands and we thought there was an opportunity for that. And we just loved the way the art came out too — we really enjoy it, it’s kind of lighthearted.
It’s not gonna be one of those negative degen NFTs, this is something for a person who is looking to enjoy happy art and has a positive attitude and enjoys luxury watches at the same time. So we are really excited about the way it came out. I think that markets spoke for us when it sold out. It appealed to a lot of consumers and that meant a lot to us.
Diana - Where can you buy the NFT?
Mac - Definitely on OpenSea, again, we have been verified on OpenSea so you can fully trust that it’s our collection. We have got over 100 Ethereum in volume sold and our floor from the mint price of 0.08 ETH has over doubled. We’re doing really well on OpenSea. But you can also get us on the Coinbase NFT if you’d like. We are also available on Looks Rare and Gem.xyx, an aggregator. I also have cool news to share about buying NFTs in the metaverse as well. There is no shortage of availability on the secondary market.
Diana - You told us about the NFT collection, but you also have the metaverse and P2E game. Could you tell us more about them?
Mac - The Cats and Watches Society NFT or what we call CAWS is not gonna be your average NFT, it’s very much a utility NFT, I like to call it a mix between a DeFi and NFT because with the CAWS you can actually stake it right now and earn 50% fixed APR in real Ethereum rewards. I have got users that are posting their rewards on Twitter and they are growing quickly, so it’s really exciting to see.
In addition to that, there’s a CAWS exclusive 2D platform, kinda similar to a Mario Brother-type game where we're gonna run biweekly contests for prizes. In our first contest, we paid over $6,000 in reward to players that utilized that game. It's really cool to see. Even today a biweekly contest is ending, where we’ll be giving away free NFTs and a combination of Ethereum and DYP tokens as rewards. So, by playing the 2d game, for which you have to have the NFT to do, you have the ability to win and earn rewards.
In fact, one of the cool things that happened this morning is that anybody who minted a CAWS just got 10% of their minting fees returned to them, directly airdropped into their wallets. So I woke up to a lot of happy users that were very excited to see additional rewards. In addition to that, the holders of the NFT are gonna be able to mint free NFTs. Some watch NFTs are coming out soon too. There’s also some CAWS merch that looks really awesome, I am excited about all that.
We actually ended up going with multiple rarity tools as well. We went with Rarity Tools, Rarity Sniper, Trait Sniper, and Rarity Bot within the discord where you can check and see the rarity of your NFT and it’s just really robust options just from the NFT standpoint alone. So that’s been a lot of fun.
The real exciting news is going to be metaverse, the team is working tirelessly on it. We’re expanding an incredible amount of resources. The metaverse is going to be a complete 3d universe, it’s gonna combine virtual spaces with endless possibilities. You're gonna be able to meet, socialize, play, and even earn in the metaverse. It's gonna be powered by virtual reality, each user is gonna have their own avatar and their own character. With the help of VR, you're going to be able to connect with blockchain-based games and use your avatar to check your crypto portfolio within the metaverse, which is kind of cool. It’s gonna give you the opportunity to search for treasures, upgrade your character, use your cat NFT, and meet and interact with other users. And there’s gonna be chat boxes.
There’s also a mining game which is a feature-rich RPG. I have seen the pitch deck on this, it’s insane, I just can’t even tell you how robust the features are gonna be. I am so excited to do this, you’re gonna be hot for rewards, special items, and digital currency. You’re gonna actually be able to purchase a CAWS NFT within the metaverse, instead of having to go on to other exchanges.
Finally, one of the things that make this experience unique is that all the items in the games are decentralized by using the power of innovative blockchain technology. This means the players are gonna be able to truly own in-game assets and trade them with other players. They can sell them for real-world value, and use them across different mines. In this open world, you are gonna be able to go to places like a mall where you have access to different shops and gear, a casino where you can play games and earn rewards, and the NFT marketplace. Also, the DYP shop itself, where you're gonna be able to access the products, the buyback, vaults, the yield farming, and the stake, all within this 3d universe. I like this idea a lot. There's gonna be NPCs in this universe, they’ll give you rewards, side quests, and things that you are gonna be able to do in a kind of RPG style of gaming.
One of the things I am really excited about is the trade section where you are gonna be able to trade with other users. We are definitely going to open an advertising module where we will be advertising and hopefully our partners would want to use the space. One of the last and not the least things you're gonna be able to do within this universe is deposit both your DPY token and our other iDPY tokens to your wallets. You’ll be able to withdraw rewards and transfer credit all within the game.
Diana - How do you think retail users might benefit from using Symbiosis and DYP tokens in any other way you can imagine?
Mac - Looking across the Symbiosis platform, the greatest benefit is that DYP users are gonna be using the cross-chain decentralized exchange. That’s huge. I like to think that your members could also explore and take advantage of our products. Many users are gonna be able to greatly benefit from DYP tools. And just looking at your Twitter account, you are getting partners on a daily basis too.
I am just really excited about the huge conglomerate of individuals and teams that have the same idea and same future focus concepts and how they all come together and work together. There’s gonna be ways we won’t even realize that we are gonna benefit each other, until the future down the road. But I know right now, there's gonna be a great utility and we are excited to be a part of the team.
Diana - Do you want to convey some message to our users?
Mac - If you are a novice, a Web3 user who is just getting started or maybe you are an advanced veteran and you are looking to diversify your portfolio. You may want to earn passive income or maybe you are never involved in all the NFT metaverse craze.
I have heard a lot of people on the DeFi side say - hey what are these NFTs, how do I get involved, what’s going on? On the NFT side, we have heard these guys asking about earning passive income by investing different tokens, So, there is so much to learn about these two worlds and how they overlap each other.
I would definitely strongly suggest checking out the DeFi Yield Protocol, we’ve got a great website and there is tons of information and tools. Our Telegram channels are always active, and we have also got Twitter and Instagram. I definitely invite you to come to hang out with me on Discord all day, every day. I think we got some of the best utilities on the market, we do some amazing giveaways in the space. Our community is amazing. We have community-building events that I love being a part of and meeting new people.
Community Question - I went to the website and saw that right now you can stake on BSC and Ethereum, and you are planning to make some partnerships with other projects. So, I am interested to know the minimum amount to start the staking process.
Mac - Right now, we have staking on the Ethereum, BSC, and AVAX chains. We are actually going to be expanding on the additional chains in the future, so definitely keep an eye on that. I know Polygon is on the roadmap, so that’s gonna be exciting.
As far as minimum staking, I would always suggest making sure that you look at the gas fees because there are going to be some gas fees to stake and you're gonna want to make sure it’s worth your investment. And as far as I know, there are no minimums to your initial staking amount. So, you shouldn’t have any problems with that at all.
Community Question - What makes your DeFi interesting in this bear market?
Mac - Obviously, we are in a bear market and so it’s tough for everybody but two things that really stick out to me are — One, we just listed our token on Coinbase and we are actually outperforming a lot of other tokens right now, that makes me very excited. Two, In the NFT space, you see NFTs going to near zero on a near daily basis and ours is actually climbing in floor price. Both of these things give me a lot of confidence.
I am not gonna say we are bear-resistant, because I don’t think anything is but we certainly have an opportunity within this market. And I think that with our future products coming out, partnerships, and the commitment from the team, we are gonna do everything we can. We don’t give up, we don’t look at the market and say okay today is down, we are not gonna work hard. If it’s down, we are gonna work extra hard.
We are going to make sure that our products stand the test of time, this is our baby and this is something that we are very committed to making work and we are not going to spare any resources to make sure that we are a success not only for the team but investors as well.
Community Question - I want to talk about a metaverse project you are working on. Generally, I think I have had this idea ever since I heard of the metaverse for the first time, that it’s gonna be a singular kind of an ecosystem. If you watched this movie called player one, something like that. There are a lot of metaverse projects that have started to pop out in 2022 and they really are not meeting the expectation. So, when listening to the features of your project and incentives and rewards, that gets me excited. So, I wanna ask where you see the future of the metaverse going.
Do you see all those investors taking a similar approach that you're taking? Where do you see the metaverse future? How do you see it in the next couple of years?
Mac - This is a great question and I appreciate the positive feedback too. From the metaverse standpoint, we are so early in the concept and there have been some projects that haven’t lived up to the hype so there's a lot of skepticism right now in the marketplace — what is metaverse, how does this affect people, what exactly is the utility behind it. Some of those questions are going to evolve as the products evolve themselves.
As far as singular points of entry, I can see there’s gonna be some popularity amongst a lot of the individuals and I also see how some people are not necessarily interested in wearing VR headsets.
I think it’s going to be very popular, probably with some of the younger crowds. With some of the things we have experienced globally with the pandemic, people have started to look for alternatives to enjoy their lives while being safe and metaverse is an amazing opportunity for that. Then, there are other people that aren't able to get out of the house for all types of reasons and this gives them a feeling of community and an opportunity to move around in a space, interact with things, and enjoy life in ways that previously was not possible.
I feel this is going to be an amazing opportunity if it is done correctly which I think my team is doing. At the same time, I want to say there are going to be more options for everybody, it’s unique to you. If it's something that you enjoy, great, we can’t wait to have you part of the team but if you just want to look at charts all day and maybe sit on Twitter, that’s okay too, we are not here to discriminate but just offer options. Regardless, we are gonna do the best we can and we’re gonna execute it to levels that I don’t think you have seen before and I think it’s gonna be an incredible opportunity for those who want to take advantage of it, I truly do.
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