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 bettering 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 belongings which might be endemic to many protocols.
USP is pegged to the US greenback, working as an overcollateralized stablecoin that gives a layer of safety in instances 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 good contract danger. USP could 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 could be minted within the Fundamental Swimming pools LP to start out with, and can develop minting alternatives to the Different Swimming pools LP as nicely.
Advantages to USP embrace:
Maximizes Capital Effectivity: Customers can mint USP utilizing LP tokens on Platypus Finance as collateral and switch staked belongings to liquid.
Allows 20x Leverage Farming: Via repeated minting, leverage farming on Platypus is made potential by as much as 20x.
Minimizes Good Contract Threat: Minting and collaterals are primarily based on a single platform which drastically 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 manage 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 belongings brings next-level capital effectivity which solves the long-standing drawback 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 belongings, extra use instances for the single-sided LP tokens, and natural progress of belongings primarily based 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 modern consumer interface.
To be taught extra about USP, take a look at the yellowpaper, and for extra data and common updates, go to Platypus’ official web site and their Twitter, Telegram, Medium, and Discord channels.