Platypus is an AMM for stableswap with a lower slippage and simpler user experience. Platypus solves some of the biggest problems in the stableswap industry, including Liquidity Fragmentation and Bad User Experience. The third feature that makes the AMM stand out in the market is its assurance of higher natural scalability.
The AMM is backed by investors like BenQi, Avalaunch, GBV, Colony, Mechanism Capital, Valhalla Capital, and TPS Capital. Platypus is based on Avalanche with open-pool liquidity.
The Launch Of sAVAX-AVAX Pool On Platypus
Platypus is all set to host the launch of the sAVAX-AVAX pool. The launch is scheduled for Wednesday, April 27, 2022, at 9 am UTC.
Community members will be able to earn not just $PTP but also $QI by getting onboard to this pool. Members can grab this opportunity by Staking and Farming on the platform.
Registered daily emission from BENQI has come to 500k QI. As for the total monthly reward emission for all the liquidity pools, the figure remains unchanged at 3,000,000 PTP.
Emission market weights for different assets have been adjusted as follows:
- DAI.e = 5%
- USDT = 15%
- USDT.e = 18%
- USDC.e = 18%
- USDC = 20%
Emission market weight for alternative pools is as follows:
- FRAX = 4%
- MIM = 4%
- sAVAX = 4%
- UST = 12%
Platypus announced that its plan to expand the choices and opportunities of its community members remains intact. It is expected to expand the list in the coming future.
There has been a concern about Platypus dedicating itself only to stablecoin. The same was addressed recently by Platypus, saying that it can go ahead and list tokens that are pegged to each other.
The news related to the launch of the sAVAX-AVAX stablecoin was shared by Platypus through an official blog post wherein it termed the sAVAX-AVAX pool the first-ever non-stablecoin pool.
Platypus has drawn out a roadmap on its official website highlighting what it has achieved since the third quarter of 2021. To start with, it overcame the obstacle of forming a talented team in that quarter while securing the Avalanche grant and completing POC.
It was followed by the fourth quarter of 2021, when Platypus concluded the private sale, Alpha Launch, and public sale.
The current year has started gracefully, with the team achieving a lot in the first quarter. Developers have done Beta Launch, listed native USDC/USDT, and expanded the token pool for its community members.
More features are yet to be unlocked. Platypus has, so far, redefined the DeFi industry, calling it a first move to signal that it still has a lot in store.