[PR – Hong Kong, Hong Kong, 13th December, 2022, Chainwire]
Platypus Finance is launching a protocol-native stablecoin, USP. The USP deployment grew out of his Platypus purpose of bettering capital effectivity for customers. The USP additionally solves long-standing collateral points associated to stablecoins. The native Platypus Finance stablecoin is designed to scale back liquidity fragmentation and decentralized property inherent in lots of protocols.
USP is pegged to the US greenback and acts as an over-collateralized stablecoin that gives a layer of safety when de-pegged with its personal adaptive peg stabilizer. The coin maintains its personal worth due to the Platypus steady swap AMM algorithm and protection ratio mannequin.
Platypus’ native stablecoin will dramatically enhance capital effectivity for Avalanche DEX customers. Using single-sided collateral, customers can sit comfortably with minimal threat of their good contracts. USP might be earned by customers by collateralizing LP tokens with as much as 20x leverage. On this manner, buyers can leverage her USP as a liquidity asset, in the end growing incomes energy. USPs might be created initially in the principle pool LP. We’re additionally increasing the crafting alternatives to various pool LPs.
The advantages for USP are:
Maximize capital effectivity: Customers can use Platypus Finance LP tokens as collateral to create USPs and liquidate staked property.
Allow 20x leverage farming. By way of repeated minting, leverage farming on Platypus might be as much as 20x.
Reduce the danger of good contracts. Minting and collateral are primarily based on a single platform that considerably reduces systemic threat.
Use one-sided collateral: Everlasting lossless single sided LP collateral significantly will increase casting flexibility and threat administration.
Platypus continues to develop with the launch of the USP as a follow-up to the discharge of the platform’s Voting Gauge mechanism. This characteristic primarily allowed customers to regulate the place their PTP emissions handed via the gauge and get rewarded within the type of bribes when voting.
About Platypus Finance
Platypus has redefined steady swaps and reinvented stablecoins with Avalanche. The intelligent use of Platypus’ underlying property brings next-level capital effectivity and solves the longstanding drawback of liquidity fragmentation in his conventional DeFi. Redefining the idea of liquidity equilibrium with open liquidity pool steady swaps and single-sided liquidity provide, consolidating new property, extra use circumstances for single-sided LP tokens, and asset organics primarily based on provide and demand. allow sustainable development. Platypus can be utilizing capital to create his USP, a stablecoin. All these improvements are neatly packed into one glossy person interface.
For extra info on USP, please see our yellow paper. For extra info and common updates, go to the official Platypus web site.
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