Hong Kong, Hong Kong, thirteenth December, 2022, Chainwire
Platypus Finance is launching USP, a protocol-native stablecoin. USP’s deployment has emerged from Platypus’ purpose of enhancing capital effectivity for its customers. USP additionally resolves long-running collateral points related to stablecoins. The native Platypus Finance stablecoin has been designed to cut back the liquidity fragmentation and scattered property which can be endemic to many protocols.
USP is pegged to the US greenback, working as an overcollateralized stablecoin that gives a layer of safety in circumstances of depegging with its distinctive Adaptive Peg Stabilizer. The coin maintains its worth itself with the Platypus stableswap AMM algorithm and protection ratio mannequin.
Platypus’ native stablecoin dramatically enhances capital effectivity for customers of the Avalanche DEX. It takes benefit of single-sided collateral and permits customers to sit down comfortably with minimal sensible contract danger. USP might be earned by customers by collateralizing their LP tokens with as much as 20 instances leverage. This fashion, buyers can farm with their USP as a liquid asset and in the end improve their incomes energy. USP might be minted within the Major Swimming pools LP to start out with, and can develop minting alternatives to the Different Swimming pools LP as properly.
Advantages to USP embrace:
Maximizes Capital Effectivity: Customers can mint USP utilizing LP tokens on Platypus Finance as collateral and switch staked property to liquid.
Allows 20x Leverage Farming: Via repeated minting, leverage farming on Platypus is made doable by as much as 20x.
Minimizes Sensible Contract Threat: Minting and collaterals are based mostly on a single platform which vastly reduces systematic dangers.
Makes use of Single-Sided Collateral: Impermanent loss-free, single-sided LP collateralization allows a lot greater flexibility and danger management on the minting.
Platypus continues to develop with USP launching as a follow-up to the platform’s launch of its Voting Gauge mechanism. The function basically gave customers energy to regulate the place PTP emissions undergo the gauge and earn rewards within the type of bribes as they vote.
About Platypus Finance
Platypus has redefined stableswaps and reinvented stablecoins on Avalanche. Masterfully using Platypus’ underlying property brings next-level capital effectivity which solves the long-standing downside of liquidity fragmentation in conventional DeFi. With an open liquidity pool stableswap and single-sided liquidity provision, it redefines the idea of liquidity equilibrium permitting for the mixing of latest property, extra use circumstances for the single-sided LP tokens, and natural development of property based mostly on provide and demand. Platypus additional makes use of its capital to mint stablecoins: the USP – all of those improvements neatly wrapped in a single glossy person interface.
To study extra about USP, take a look at the yellowpaper, and for extra info and common updates, go to Platypus’ official web site and their Twitter, Telegram, Medium, and Discord channels.
Contact
Platypus Advertising and marketing Workforceadvertising@platypus.finance
