Platypus – The Avalanche-native Stableswap that redefines the DeFi World

What is Platypus

Platypus aims to become the reference Stableswap platform built on AVAX. The protocol is designed to tackle the aforementioned issues and provide all trades within the crypto sphere, with a better performing DeFi protocol that offers lower slippage, higher scalability, and a far better user experience than ever before.

The value proposition

To better showcase why Platypus excels with its design and has a truly unique value proposition, it is worth looking at older Stableswap protocols and have a better understanding of the progress that has been achieved by the team.

Firstly, most older generation Stableswaps operate by a closed liquidity pool model, meaning the liquidity is not shared between separate asset pools, leading up to liquidity fragmentation. Furthermore, the price slippage is being calculated by taking into account the invariant of that specific liquidity pool. In Platypus , however, all token liquidity can be shared between the assets of a pool, hence effectively increasing liquidity depth and lowering the slippage.

Secondly, the older Stableswap’s design made for a more difficult or even impossible integration of new assets. This is the case as in traditional Stableswaps; tokens have to abide by a very strict equilibrium mechanism where all the assets inside the pool need to have the same amount of liquidity in order to complete a swap.

The key in the Platypus innovation is in its unique take on the concept of liability, which has not been explored as much by other AMM protocols beforehand. This sort of approach redefines the concept of equilibrium, not based on liquidity, but based on coverage ratio, allowing the assets inside a liquidity pool to grow organically based on supply and demand.

The benefits of using Platypus are numerous, from a far better technology and UX experience that is easy to use even to the most inexperienced traders, to its ground-breaking open liquidity pool design which allows for scalability of Stableswap.

The ease of trading given by such a platform would make Platypus a favorite within the crypto ecosystem, thus having positive effects on scalability.

A growing community

Despite being a young project, Platypus is enjoying the attention of an enthusiastic community that is expanding seamlessly. Recently, the user base that can be found across Twitter, Telegram , and Discord has surpassed 10k members for each one of the platforms and the engagement is more present than ever. Platypus is working on further growing its community though updates, and developments around the project, but also through competitions that are meant to cement the community’s identity within the crypto space, while maintaining an ever-active interest in Platypus

Why Avalanche (AVAX)

AVAX is a novel layer one blockchain built by Ava Labs that impresses through the easiness developers can build dApps on. This blockchain choice is backed by several aspects of Avalanche that align perfectly with the vision of the Platypus team.

Avalanche is a blazingly fast, low cost and eco-friendly ecosystem. These advantages constitute the perfect setup for greater scalability and stability which are some of the primary deliverables of Platypus.

The team

The team behind Platypus is formed by true experts of the blockchain industry, each one of them carrying significant years of experience behind their back. The team is innovative and true to its goal of improving some of the most poignant issues of DeFi as we know it.