Platypus, the upcoming Avalanche native stableswap AMM, recently announced investors from their $3.3M funding round, which included a $20,000 investment from the Yield Yak treasury ahead of their official launch.
“Platypus’ AMM facilitates seamless exchange between pegged assets. Its single-sided liquidity provision redefines the way AMM works. We’re excited to have Yield Yak among our funding round investors as the #1 yield optimizer on Avalanche ”
— Mr. Duckbill, Platypus Co-Founder
In line with their strategy to support and invest in new, innovative native projects on Avalanche, Yield Yak will use these tokens to help Platypus in adding liquidity after launch. The investment also aligns with our ongoing diversification of the Yield Yak treasury across the Avalanche ecosystem
The partnership is more than just a transactional exchange, it’s also a commitment to collaborate and push the Avalanche DeFi ecosystem forward.
“Platypus are positioning themselves to make big waves in the stableswap space and are bringing a new and unique offering to the Avalanche ecosystem. Yield Yak are honoured to be partners.”
— Dylan, Comms at Yield Yak
Platypus Finance protocol is a single-side AMM (decentralized exchange) designed for exchanging stable cryptocurrencies (ERC20 tokens) on the Avalanche blockchain.
The protocol is implemented as a set of smart contracts; designed to prioritize censorship resistance, security, self-custody and maximum capital efficiency.
Platypus features single-token provision, eliminating impermanent loss risk for liquidity providers, and minimizing slippage for traders.
About Yield Yak
Yield Yak makes numbers go up. Ape into new autocompounder farms with quick releases and high yields. Swap on Yak for the best prices on trades with zero aggregator fees. Sit back and just earn, including big APYs on stablecoin farms.