HomeCoinsAvalanche (AVAX)Platypus Finance Launches Stableswap Protocol on Avalanche | by Avalanche | Avalanche...

Platypus Finance Launches Stableswap Protocol on Avalanche | by Avalanche | Avalanche | Jan, 2022

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Platypus Finance, a single-side AMM (decentralized exchange) designed for exchanging stablecoins, has launched its Beta application on Avalanche, expanding the tools available to users swapping between stablecoins.

Platypus is implemented as a set of smart contracts, designed to prioritize censorship resistance, security, self-custody and maximum capital efficiency. It features single-token provision, which eliminates impermanent loss risk for liquidity providers, and minimizes slippage for traders.

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.



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