Unlike the many DEXs we’ve been graced with. Platypus is quacking its way to the bank with a novel approach.

They’re leaving out the usual dual pair stablecoin LP tokens. And instead, going for a stronger method.

Playtpus’s secret

I say secret, but there are a few:

1. Single sided staking
2. Shared liquidity between tokens
3. Flexible pool composition
4. Risk management mechanisms against malicious arbitrage
5. Profit sharing through “haircut” fees

IF you want to read into the magic: Platypus yellow paper. It’s fairly complex, but hopefully, we’ve gleaned the pearlers above.

When launch?

Very soon. How soon? Q4 2021.

We can expect the following:

1. Beta launch
2. Public Sales
3. Full launch
4. Future features

These should be here in the near few months.

Scam!

Fortunately, this oen looks like it’s solid. And here are the reasons why:

• Avalanche backing. They were awarded an Avalache X grant
• Private sale. Not my favourite, but, where there’s professional money, there’s likely an element of professionality. Smart money.

The core tenants

• Lower slippage. Saving us money on our swaps.
• High scalability. Faster.
• Better UI. Nicer to use. Easier to use.

Competition

I can’t say with certainty that there’ll much room left for swaps like Gondola. But, competition is healthy, and we’ll see once Platypus lands.

Source