Platypus Introduces Its Own Native Stablecoin USP

Hong Kong, 13th December 2022, Chainwire

Platypus Finance is set to launch USP, a stablecoin that's embedded directly into the protocol. The creation of USP is aligned with Platypus' aim to maximize capital efficiency for its community. Additionally, USP addresses the persistent collateral challenges that have plagued many stablecoins. This new stablecoin has been crafted to mitigate liquidity fragmentation and the disarray of assets that is common in numerous protocols.

USP is tied to the US dollar, functioning as an overcollateralized stablecoin that offers a safety net against depegging through its innovative Adaptive Peg Stabilizer. It consistently retains its value using the Platypus stableswap AMM algorithm and a coverage ratio framework.

The introduction of Platypus’ proprietary stablecoin significantly elevates capital efficiency for users engaging with the Avalanche decentralized exchange. It makes the most of single-sided collateral, allowing users to conduct their activities with minimal smart contract risk. Users can earn USP by collateralizing their LP tokens with leverage of up to 20 times. This allows investors to utilize their USP as a liquid asset for farming, thereby enhancing their earning potential. Initially, USP can be minted in the Main Pools LP, with plans to diversify minting options into the Alternative Pools LP in the future. 

Benefits to USP include:

Maximizes Capital Efficiency: Users can generate USP by using their LP tokens on Platypus Finance as collateral, thus converting staked assets into liquid funds.

Facilitates 20x Leverage Farming: Through continuous minting, users can engage in leverage farming on Platypus with ratios reaching up to 20x.

Minimizes Smart Contract Risk: Minting and collaterals are streamlined through a single platform, which significantly reduces systemic risks.

Employs Single-Sided Collateral: This impermanent loss-free approach to single-sided LP collateralization provides enhanced flexibility and superior risk management during the minting process.

As Platypus continues to evolve, the launch of USP marks a significant enhancement following the platform’s release introduction of its Voting Gauge mechanism. This feature empowers users to influence the distribution of PTP emissions via their votes and rewards them with incentives as they participate.

About Platypus Finance

Platypus has transformed the stableswap landscape and reimagined stablecoins operating on Avalanche. By strategically leveraging the core assets of Platypus, it achieves unprecedented capital efficiency that addresses the longstanding problem of liquidity liquidity fragmentation issues seen in traditional DeFi. With a open liquidity pool stableswap and innovative single-sided liquidity provisions, it redefines liquidity equilibrium, paving the way for the inclusion of fresh assets, broader applications for single-sided LP tokens, and the organic growth of assets driven by supply and demand. Additionally, Platypus capitalizes on its resources to mint stablecoins: the USP – all these advancements elegantly packaged in one user-friendly solution. user interface .

To learn more about USP, check out the yellowpaper For continuous updates and more insights, check out Platypus’ official website and their Twitter , Telegram , Medium , and Discord channels.

Contact

Platypus Marketing Team