Platypus is a revolutionary dapp that seeks to bring lower slippage, higher scalability, better user experience to stableswaps. It is not only be the least stableswap on Avalanche but more importantly platypus sets a new standard for stableswaps with it's novel single sided liquidity provision.
Platypus Finance is a set of smart contracts developed to prioritise security censorship resistance, self-custody and maximum capital efficiency. Featuring single-token provision, Platypus Finance strived to eliminate impermanent loss risk for liquidity providers and minimise slippage for traders. Keep scrolling to learn all about Platypus Finance.
Platypus is a liquidity pool which is considered as a open liquidity pool where liquidity providing made simple with single sided staking and no worries pool composition or sizes.
Unlike first generation Automated Market Maker where liquidity is separated into different pools. Platypus allows liquidity for all tokens to be shared and preventing liquidity fragmentation.
Platypus permits flexible pool composition, rather than requiring all tokens in the perticular pool to have the same amount of liquidity. The platypus liquidity pool achieves equilibrium by requiring the same convert ratio.
The key concept behind the platypus is asset liability management. Rather than just giving liquidity providers in LP tokens which represents their share of the pool with the token originally deposited with subject to change based upon the LPs actions. Platypus LP tokens separates each liquidity providers deposit into own balance sheet so that LPs would receive the same amount in proportion of tokens.
How To Boost Your PTP ?
Platypus Finance has an interesting mechanism to keep the users staked with their stablescoins. It does so by offering their token that you’re allowed to boost your yield. When you stake, you won’t earn PTP, but you’ll earn vePTP that will enable you to boost any stablecoin you put into the pool. This is how you can earn more Platypus tokens, and it is how Platypus keeps you incentivised to keep your money staked. If you unstake PTP, all your vePTP goes away. This is a stablecoin automated market maker which other companies on AVAX Chain will use to provide liquidity pairs for whatever token they are swapping or trading. This mechanism is designed to benefit you and lock your money for as long as possible.
How To Perform Cross-Asset Swaps On Platypus Finance?
Platypus StableSwap has come into play to reduce slippage for high-value swaps in the market without harming flexibility and stability. Platypus Finance currently supports dollar-pegged stablecoins (i.e. USDC.e, USDT.e, DAI.e, and Native USDC). There are some critical points to note before initiating the trade:
To pay for gas fees on each transaction, you need to have the native token of AVAX.
You need to pay a 0.01% transaction fee for liquidity providing.
There might be a charge for deposit fees or withdrawal fees depending on the coverage ratio of the pool.
Platypus is currently not supporting the trade of tokens not listed on Platypus by importing their contract addresses.
Platypus Finance Liquidity Mining
Platypus Finance uses three pools for liquidity mining and delivers its native token PTP through these pools. Base Pool, Boosting Pool and AVAX-PTP Pool (Pool 2) are responsible for 30%, 50%, and 20% of the liquidity emission, respectively.
Tokenomics
Total Supply :- 300M
Distribution of total supply and vesting schedule is as per given below.
Conclusion
Platypus Finance's value is expected to continue its growth because shortage tends to encourage a rise in prices. I tried to provide you with an introduction to Platypus Finance. You now have an insight into the project by reading this article. Deciding to invest in a crypto project is a critical decision, and you should do your own research and follow the news.