Platypus Funded by Avalanche-X Grant

Published on: 11.10.2021

Platypus has earned a grant through the Avalanche-X program to introduce an Avalanche-native StableSwap featuring an open, single-sided liquidity pool. Their protocol is set to expand the scalability and capital efficiency of StableSwap.

Why they are so excited?

Avalanche-X grant recipients underwent a stringent review process. The program received hundreds of applications each class, while only a few of them successfully secured the grant. The grant recipients are also offered a chance to work with Avalanche-X Grant Ambassadors, to be a part of the vibrant, international community building an inclusive environment for all aspects of Avalanche.

“No good, native StableSwap exists on Avalanche yet,” said Mr Duckbill, founder of Platypus, “ existing StableSwaps are too complicated and difficult to use.”
“We want to do something truly different to unleash the true potential of StableSwap.”
“We are grateful to have been granted by Avalabs to build something different, a StableSwap that enables lower slippage, higher scalability and better user experience.”
“Platypus will be a great addition to Avalanche. And beware — it’s only the beginning!”

What’s next?

With support from Avalanche, Platypus Testnet will launch in early Q4, with more excitement to follow. Platypus is committed to becoming the dominant StableSwap on Avalanche as soon as they can. So stay tuned and brace yourself for a roller-coaster ride.

About Platypus

Platypus pioneers a novel StableSwap, exclusively on Avalanche. Their open liquidity pool designs allow easy integration of multiple assets into the same liquidity pool for shared liquidity, maximizing capital efficiency and minimizing slippage. This unique design also enables single-sided liquidity provision, which enables countless possibilities via DeFi’s composability.

About Avalanche-X

Avalanche-X is Avalanche’s accelerator for developers building decentralized applications like lending, derivatives, stablecoins, getting funding for community work, and things not yet imagined.

About Avalanche

Avalanche is an open-source platform for launching decentralized finance applications and enterprise blockchain deployments in one interoperable, highly scalable ecosystem. Developers who build on Avalanche can easily create powerful, reliable, and secure applications and custom blockchain networks with complex rulesets or build on existing private or public subnets.