3 months ago 2 min read

On December 28, Platypus Will Open the Testnet for Their Stablecoin USP


Key Ideas:

  • On December 28, Avalanche-based DEX Platypus said it would introduce its native stablecoin $USP to the testnet.
  • On December 28, Avalanche-based DEX Platypus said it would introduce its native stablecoin $USP to the testnet.
  • They can continue farming on the liquidity pool in the meanwhile using their LP tokens. The USP's peg is maintained by the Platypus stableswap AMM algorithm and the interest rate model.

On December 28, the Avalanche-based DEX Platypus' native stablecoin USP will go live on the testnet.

In order to improve the capital efficiency of its users, Platypus deployed USP. USP also resolves long-standing stablecoin collateral problems. In order to minimize the dispersed assets and fragmented liquidity that are typical of many protocols, the native Platypus Finance stablecoin was developed.

Overcollateralized and tied to the US dollar, USP is a stablecoin. In the event of debugging, its innovative Adaptive Peg Stabilizer gives an additional degree of security. The coin maintains its value on its own with the aid of the Platypus stableswap AMM algorithm and coverage ratio model.

Users will gain advantages by adopting USP, such as increasing capital efficiency, enabling 20x leverage farming, reducing smart contract risk, and employing single-sided collateral.

For users of Avalanche DEX, the native stablecoin of Platypus considerably increases capital efficiency. Due to the utilization of single-sided collateral, users can unwind with low smart contract risk.

By employing up to 20 times the leverage to collateralize their LP tokens, users can obtain USP. Investors can eventually increase their earning potential by using their USP as a liquid asset for farming. Initially, the Main Pools LP is where USP can be minted; however, the Alternative Pools LP will eventually offer minting possibilities.

Platypus has expanded with the introduction of USP as a follow-up to the platform's release of its Voting Gauge mechanism. In essence, the feature gave customers the option to decide where PTP emissions entered the gauge and to accept bribes in exchange for their votes.

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