DYP Protocol Launches on Avalanche and Introduces New NFT Competition

DeFi Yield Protocol (DYP), a unique protocol that offers users solutions for crypto yield farming and staking, recently launched its new NFT Marketplace that facilitates creators and collectors to mint and trade non-fungible tokens.The marketplace allows users to create and sell their unique digital artwork on Ethereum. It will soon expand to Binance Smart Chain (BSC) and Avalanche (AVAX), enabling any user (artist or not) to transfer their NFTs between the three blockchains.DYP users can finally enjoy unique, digital ownership rights in a thriving NFT marketplace. The robust integration of an in-built NFT marketplace on DYP is a significant milestone for the digital collectibles space. It introduces an environmentally friendly approach and lower transaction costs.Creators will only be charged a 0.30% payment to sell their digital artwork on DYP’s NFT dApp, a factor that distinguishes it from other rival NFT dApps in existence today.The DYP NFT Creative Competition is LIVE!To celebrate the launch of the NFT Marketplace, DYP has introduced a creative competition that invites NFT creators worldwide to use their imagination and creativity to come up with unique collectibles.Participants in the creative contest stand to share a $50,000 Prize Pool. The NFT competition kicked off on July 12 and continues until at least 1000 NFTs have been created.The DYP token powers all products in the DeFi Yield Protocol and is a requirement for entering the ecosystem and unlocking an unprecedented level of security for projects and individual asset holders. The governance token now has a new use case in facilitating users to pay transaction fees for NFT smart contract operations in the ecosystem.The protocol’s native token also has multiple use cases in liquidity locking on the protocol, earn vault strategies, and the DYP referral system. The token is also a requirement for subscriptions to the DYP Tools Premium. This…