Platypus Finance – StableSwap Platform on Avalanche

Preamble

Platypus Finance is an AMM (DEX) designed to exchange stable cryptocurrencies (ERC20 tokens) on Avalanche. Despite the noted difficulties, DeFi continues to innovate day by day. Total Key Value (TVL) across all decentralized financial systems is rapidly reaching new ATHs. According to DeFi Llama, TVL crossed the $200B mark in early October and hit a recent ATH of $277B in November. Borrowing and lending protocols and most recently algorithmic stablecoins have laid the groundwork for the future of the financial industry

What is Platypus?

Platypus is a one-sided AMM that allows the trading of stable cryptocurrencies on Avalanche. The protocol as a set of smart contracts is optimized for censorship resistance, security, self-custodial, and capital efficiency. Platypus is a single token, which eliminates the risk of temporary loss for liquidity providers and minimizes slippage for users.

What problem does Platypus Finance solve?

Platypus aspires to be a Stableswap platform based on AVAX technology. Addresses the concerns mentioned above and provides users with a DeFi protocol that features reduced slippage, scalability, and a better user experience than before.
In addition, users can provide unilateral liquidity using Platypus. Instead of using a pair of coins that provide liquidity, Platypus simply uses the project’s token. This design allows for the easier provision of liquidity. In addition, the project allows the addition of new tokens, which greatly increases the scalability and capital efficiency of the protocol.

For example, while the protocol may start with three base tokens (USDT, USDC, and DAI), the project could gradually add more tokens to the large pool (e.g. TUSD, FRAX) to facilitate settlement better account. This concept is called “Open Liquidity Pool”.

Outstanding Features of Platypus Fianance

Core values
Makes trading more economical and provides better liquidity. Liquidity is so important to the sustainable development of DApps that the entire Avalanche ecosystem. StableSwap helps “enrich” DeFi 2.0.

Slippage reduction
When compared to Stableswaps, open liquidity pools offer superior capital efficiency and reduced slippage.

Increase liquidity
Flexible Pool Composition: Liquidity pools will be more flexible. Previous StableSwaps platforms did not allow integration of multiple assets, but with Platypus it is different, this protocol will introduce the concept of Coverage Ratio instead of Liquidity Balancer, meaning assets on Platypus will be valued using Coverage ratio rather than Liquidity Balancer. not account liquidity volume (pool assets are more volatile on StableSwap).

Better experience

Users can deposit and withdraw tokens of the same type without worrying about pool composition or pool size, as long as they use the same wallet.

Roadmap

The roadmap is what Platypus Finance is aiming for. Maybe later, the plan can be changed based on the management of the communit

Token

Token Metric

Token name: Platypus
Tickets: PTP
Blockchain: Ethereum
Token standard: ERC-20
Token Type: Utility
Smart contract: Updating
Total supply: 300,000,000 PTP

Token Allocation

Incentive: 120,000,000 PTP (40%)
Treasury: 60,000,000 PTP (20%)
Token sale (Private and public): 52,500,000 PTP (17.5%)
Team: 45,000,000 PTP (15%)
Exchange liquidity: 10,500,000 PTP (3.5%)
Advisor: 6,000,000 PTP (2%)
Avalanche Fund: 6,000,000 PTP (2%)

Token Release Schedule

Treasury: Unlock 5% at TGE, lock for 6 months and amortize in the next 3 years
Private sale: unlock 10% at TGE, lock for 3 months and amortize in the next 18 months
Public sale 10% unlocked at TGE, 7.5% monthly installment for 12 months
Team: Lock for 12 months and amortize within 30 months
Liquidity: 50% unlock at TGE, lock for 6 months, and pay in installments in the next 6 months
Advisor: 12-month lockout and 30-month amortization
Avalanche Fund: 10% at TGE, next 3 and 18 months

Team

The team behind Platypus is made up of experts with many years of experience in blockchain, each of whom has outstanding previous achievements.

Partner

Platypus raised $3.3M in a funding round led by Three Arrows Capital and Defiance, along with other leading investment funds such as Avalaunch, CMS Holdings, or Hailstone

Social channels
Website: https://platypus.finance/
Telegram Announcement: https://t.me/avalaunchonavax
Telegram Group: https://t.me/Platypusdefi
Twitter: https://twitter.com/Platypusdefi
Discord: https://discord.com/invite/B6ThAvev2A

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