🔺How Platypus Finance Works🔺
💪@Platypusdefi is 1 protocols for stablecoins holders on Avalanche
Users can swap/farm/LP farm/boost rewards/... via Platypus
How to use @Platypusdefi ? Dive in 🧵👇
@Platypusdefi 1/ What is Platypus?
Platypus is a stableswap, stablecoins AMM on Avalanche
◽ Open liquidity single-sided AMM managing risk autonomously based on the coverage ratio
◽ Allowing maximal capital efficiency
@Platypusdefi 2/ Why Platypus?
⭐ Key concept
◽ Asset liability management (ALM)
◽ The first of its kind to use a single-variant slippage function instead of invariant curves.
⭐ Platypus's Unique Points
◽ Low Slippage ◽ High Scalability ◽ Best User Experience
@Platypusdefi 3/ How it works?
3.1/ Stablecoins Swap
- In “Swap” Mode, choose the token pair then click "Approve" - Check the details and click the “Swap” button then click "Confirm Swap" - “View on FUJI C-Chain explorer” to check your transaction details.
@Platypusdefi Important Notes:
- AVAX is required for gas fees - 0.01% transaction fee is collected for liquidity providing - Deposit/withdrawal fees are charged depend on pool’s coverage ratio - Importing tokens' contract addresses is currently not supported
@Platypusdefi 3.2/ Provide Liquidity
There are 3 pools launched on @Platypusdefi,">@Platypusdefi Each Pool carries its own unique risks, and as a way to bring users more choices and opportunities while managing risks, categorization was put in place.
◽ Alternative Pool — newer and relatively risky stablecoins Tokens: SAVAX, YUSD, FRAX, MIM, BTC
◽ Factory Pool — maximum risk stablecoins Tokens: H2O, MONEY, TSD
@Platypusdefi 4/ Important Notes
Stablecoins on Platypus will be grouped into different pools depending on their depegging risks so that the main pool would remain healthy should smaller stablecoins take a wild swing.
@Platypusdefi Since The Factory Pool is created for the most adventurous risk level, be ware:
- Boosting option is not available - Interest will only be earned from the base pool - Stablecoins will be paired with USDC - No price oracle in the Factory Pool - Extra rewards
- Emission update
@Platypusdefi - No price oracle
-> Trades will not stop in the event of a depeg, and the USDC in this pool is at risk of draining out. LPs should be aware of the risks when depositing in this pool.
@Platypusdefi - Stablecoins in the pool are new and risky
-> High rewards + High risk
- Boosting option not available -> Maybe not that "high" rewards
@Platypusdefi 5/ Boost Yield
- PTP are rewarded when you stake/farm/provide LP - Stake PTP on Platypus to Boost Yield - When you stake PTP you also receive vePTP -> Boost more Yield
More usecase for PTP
@Platypusdefi Thread is for informational purposes only, not investment advice.
Do your own research before making any investment decisions.This post is based on this twitter thread.