blockchainreporter
  • News
    • Altcoins
    • Bitcoin
    • Blockchain
    • Ethereum
    • Adoption
    • NFT
    • DeFi
    • Metaverse
  • Education
  • Glossary
  • Advertise
No Result
View All Result
BET NOW
blockchainreporter
  • News
    • Altcoins
    • Bitcoin
    • Blockchain
    • Ethereum
    • Adoption
    • NFT
    • DeFi
    • Metaverse
  • Education
  • Glossary
  • Advertise
No Result
View All Result
blockchainreporter
BET NOW
No Result
View All Result
Bitcoin
BTC
1d:
7d:
Ethereum
ETH
1d:
7d:
Polkadot
DOT
1d:
7d:
Solana
SOL
1d:
7d:
Ripple
XRP
1d:
7d:
Shiba INU
SHIB
1d:
7d:

Platypus Launches Native Stablecoin USP

Chainwire by Chainwire
December 13, 2022 - 12:49 pm
in Press Release
0
USPlaunvhLxOmXkbs
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

Hong Kong, Hong Kong, 13th December, 2022, Chainwire

Platypus Finance is launching USP, a protocol-native stablecoin. USP’s deployment has emerged from Platypus’ goal of improving capital efficiency for its users. USP also resolves long-running collateral issues associated with stablecoins. The native Platypus Finance stablecoin has been designed to reduce the liquidity fragmentation and scattered assets that are endemic to many protocols.

USP is pegged to the US dollar, operating as an overcollateralized stablecoin that provides a layer of security in cases of depegging with its unique Adaptive Peg Stabilizer. The coin maintains its value itself with the Platypus stableswap AMM algorithm and coverage ratio model.

Platypus’ native stablecoin dramatically enhances capital efficiency for users of the Avalanche DEX. It takes advantage of single-sided collateral and allows users to sit comfortably with minimum smart contract risk. USP can be earned by users by collateralizing their LP tokens with up to 20 times leverage. This way, investors can farm with their USP as a liquid asset and ultimately increase their earning power. USP can be minted in the Main Pools LP to start with, and will expand minting opportunities to the Alternative Pools LP as well.  

Benefits to USP include:

Maximizes Capital Efficiency: Users can mint USP using LP tokens on Platypus Finance as collateral and turn staked assets to liquid.

Enables 20x Leverage Farming: Through repeated minting, leverage farming on Platypus is made possible by up to 20x.

Minimizes Smart Contract Risk: Minting and collaterals are based on a single platform which greatly reduces systematic risks.

Utilizes Single-Sided Collateral: Impermanent loss-free, single-sided LP collateralization enables much higher flexibility and risk control on the minting.

Platypus continues to grow with USP launching as a follow-up to the platform’s release of its Voting Gauge mechanism. The feature essentially gave users power to control where PTP emissions go through the gauge and earn rewards in the form of bribes as they vote.

About Platypus Finance

Platypus has redefined stableswaps and reinvented stablecoins on Avalanche. Masterfully utilizing Platypus’ underlying assets brings next-level capital efficiency which solves the long-standing problem of liquidity fragmentation in traditional DeFi. With an open liquidity pool stableswap and single-sided liquidity provision, it redefines the concept of liquidity equilibrium allowing for the integration of new assets, more use cases for the single-sided LP tokens, and organic growth of assets based on supply and demand. Platypus further utilizes its capital to mint stablecoins: the USP – all of these innovations neatly wrapped in one sleek user interface.

To learn more about USP, check out the yellowpaper, and for more information and regular updates, visit Platypus’ official website and their Twitter, Telegram, Medium, and Discord channels.

Contact

Platypus Marketing Team
marketing@platypus.finance

ShareTweet
Chainwire

Chainwire

Don't miss the latest updates and developments in crypto world. Stay tuned for the most exciting information and press-releases from Chainwire.

Recommended For You

OKX Proposes Industry-First BRC-30 Token Standard to Enable Bitcoin and BRC-20 Token Staking

by Chainwire
June 1, 2023 - 8:13 pm
0
DiscoverthePowerofBRCLearnNowxnxuMuCflZ

SAN FRANCISCO, UNITED STATES, June 1st, 2023, ChainwireWith BRC-30, OKX Wallet users will soon be able to stake BRC-20 tokens and Bitcoin to earn passive income on their...

Read more

HedgeUp (HDUP) Showcases Why It’s a Better Token Than Chainlink (LINK) and Solana (SOL)

by Max Clark
June 1, 2023 - 1:38 pm
0
photoy

Explore the dynamic world of cryptocurrencies with our detailed analysis of HedgeUp (HDUP), Chainlink (LINK), and Solana (SOL).

Read more

Kine Protocol Achieves Major Milestone with MSB Cryptocurrency Trading License

by Max Clark
June 1, 2023 - 10:12 am
0
kine protocol

Kine Protocol, a leading decentralized exchange, earns a milestone MSB Cryptocurrency Trading License, marking its entry into the US market.

Read more

Bumper’s Breakthrough DeFi Protocol Set to Reshape Options Pricing

by Chainwire
May 31, 2023 - 2:06 pm
0
imageedithAICLCD

London, United Kingdom, May 31st, 2023, ChainwireMarking a seismic shift in the digital asset landscape, DeFi platform Bumper today unveiled the findings of their comprehensive simulation, exhibiting new...

Read more

Ripple (XRP) Price Prediction – Ripple (XRP) Struggles to Hold Leading Position with HedgeUp (HDUP) and Solana (SOL) Covering Crypto Ground

by Max Clark
May 31, 2023 - 12:51 pm
0
photoy

Explore the high-stakes world of cryptocurrencies as Ripple (XRP) fights to maintain its leading position against rising contenders, HedgeUp (HDUP) and Solana.

Read more
Next Post
Cryptosat

Cryptosat Releases the First Cryptosim Software for Developers to Simulate Interaction with its LEO Cryptographic Satellites

PARTNERS LIST

  • sp

PRESS RELEASE

DiscoverthePowerofBRCLearnNowxnxuMuCflZ

OKX Proposes Industry-First BRC-30 Token Standard to Enable Bitcoin and BRC-20 Token Staking

by Chainwire
June 1, 2023 - 8:13 pm
0

SAN FRANCISCO, UNITED STATES, June 1st, 2023, ChainwireWith BRC-30, OKX Wallet users will soon be able to stake BRC-20 tokens...

photoy

HedgeUp (HDUP) Showcases Why It’s a Better Token Than Chainlink (LINK) and Solana (SOL)

by Max Clark
June 1, 2023 - 1:38 pm
0

Explore the dynamic world of cryptocurrencies with our detailed analysis of HedgeUp (HDUP), Chainlink (LINK), and Solana (SOL).

kine protocol

Kine Protocol Achieves Major Milestone with MSB Cryptocurrency Trading License

by Max Clark
June 1, 2023 - 10:12 am
0

Kine Protocol, a leading decentralized exchange, earns a milestone MSB Cryptocurrency Trading License, marking its entry into the US market.

imageedithAICLCD

Bumper’s Breakthrough DeFi Protocol Set to Reshape Options Pricing

by Chainwire
May 31, 2023 - 2:06 pm
0

London, United Kingdom, May 31st, 2023, ChainwireMarking a seismic shift in the digital asset landscape, DeFi platform Bumper today unveiled...

n

BlockchainReporter is a trusted name in the cryptocurrency and blockchain technology news space, keeping its readers abreast of the latest and most significant trends in the industry.

Here at BlockchainReporter, our team of global writers is dedicated to providing price analysis on leading cryptocurrencies and covering the latest developments pertaining to bitcoin news, altcoins news, blockchain news, NFT news and cryptocurrency adoption news from around the world.

News

  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • Adoption
  • NFT
  • DeFi
  • Metaverse

Info

  • Education
  • Glossary
  • Market
  • Press Release

Company

  • About Us
  • Terms & Conditions
  • Advertise
  • Sitemap
  • Contact

@2022 – Blockchainreporter.net. All Right Reserved.

No Result
View All Result
  • News
    • Altcoins
    • Bitcoin
    • Blockchain
    • Ethereum
    • Adoption
    • NFT
    • DeFi
    • Metaverse
  • Education
  • Glossary
  • Advertise