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

Market Stats:
BTC Dominance: 60.69%(-1.17%/24h)
ETH Dominance: 11.27%(+0.48%/24h)
Defi Market Cap: $138.98B(-12.86%/24h)
Total Market Cap: $3857.49B(+0.72%/24h)
Total Trading Volume 24h: $245.74B(+17.57%/24h)
ETH Market Cap: $435.19B
Defi to ETH Ratio: 31.94%
Defi Dominance: 3.53%
Altcoin Market Cap: $1516.24B
Altcoin Volume 24h: $176.11B
Total Cryptocurrencies: 35349
Active Cryptocurrencies: 9410
Active Market Pairs: 105453
Active Exchanges: 834
Total Exchanges: 10678
BTC: 117683.59$(-0.09%/1H)
ETH: 3601.2$(0.7%/1H)
AVAX: 24.01$(0.04%/1H)
BNB: 740.61$(-0.49%/1H)
MATIC: 0$(0.95%/1H)
FTM: 0$(-0.27%/1H)
ADA: 0.83$(0.2%/1H)
DOT: 4.34$(-0.08%/1H)
UNI: 10.29$(0.07%/1H)
CAKE: 2.7$(-0.34%/1H)
SUSHI: 0.94$(1.1%/1H)
ONE: 0.01$(-0.15%/1H)