Platypus developing novel stablecoin swap (Q4 2021, Avalanche-X Grant Backed)
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.
In this post
I say secret, but there are a few:
- Single sided staking
- Shared liquidity between tokens
- Flexible pool composition
- Risk management mechanisms against malicious arbitrage
- 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.
Very soon. How soon? Q4 2021.
We can expect the following:
- Beta launch
- Public Sales
- Full launch
- Future features
These should be here in the near few months.
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.
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.