Platypus Finance Launches Stableswap Protocol on Avalanche

Published on: 14.01.2022

Platypus launches Stableswap Protocol on Avalanche offering users better capital efficiency and lower slippage when swapping between stablecoins.

An overview of what users can expect on the Platypus app:

  • Platypus allows users to provide unilateral liquidity. Instead of having pools of token pairs, Platypus uses accounts of tokens to record assets and liabilities. This design allows for single-sided liquidity provision. For Avalanche users, this translates into a much smoother user experience when providing liquidity.
  • Platypus makes significant improvements to the standard stableswap AMM model by using a single-variant slippage function. Along with other improvements, this results in much better capital efficiency. For Avalanche users, this means that they will incur lower slippage when swapping between stablecoins.
  • Overall, Platypus focuses on offering a much simpler UX to their users through their improved interface and protocol design.
  • Liquidity mining will become available. The accepted stablecoins are USDT.e, USDC.e, DAI.e, and MIM.
  • Liquidity providers will earn PTP (Platypus native token) from the Base Pool by depositing any of the four listed stablecoins (for now).
  • Staking PTP will also enable liquidity providers to receive rewards from the Platypus Boosting Pool.

About Platypus

Platypus pioneers a new kind of stableswap which enables an open, single-sided liquidity pool. Users can exchange between assets and farm interest seamlessly in our Avalanche-powered protocol. Designed for maximum capital efficiency and minimum slippage, Platypus offers a compelling alternative to other DEXes on the market.

About Avalanche

Avalanche is the fastest smart contracts platform in the blockchain industry, as measured by time-to-finality, and has the most validators securing its activity of any proof-of-stake protocol. Avalanche is blazingly fast, low cost, and green. Any smart contract-enabled application can outperform its competition by deploying on Avalanche.

📰 INFO

https://medium.com/avalancheavax/platypus-finance-launches-stableswap-protocol-on-avalanche-e781ee08314f

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