Platypus Finance is the largest stable coin swap exchange on the AVAX network. They offer very slow slippage and low fees to swap between USDT, USDC, DAI and MIM on the Avalanche network.
Their platform is modelled from the popular stablecoin swap Curve Finance on the Ethereum network, however they have added some interesting innovations. Most notably:
- Platypus Finance offers better slippage than Curve thanks to their optimized liquidity pools
- Platypus Finance provides higher yields of up to 20% APY to deposit stablecoins like USDT or USDC
- Platypus Finance is cheaper to transact than Curve Finance because it is on the Avalanche C Chain
Visit the Platypus DEX.
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Platypus Finance Yield Farming
The Platypus Finance protocol provides really great yield farming opportunities thanks to their popular stablecoin swap. If you deposit a stable coin like USDC or USDT, you will be able to earn yield paid on PTP that is a reward for users swapping on the platform.
This is a way to redistribute protocol revenue to investors who provide liquidity to the Platypus stable swap. You can also get boosted yields with vePTP staking.
Platypus Finance vePTP
Platypus Finance allows users to stake their Platypus (PTP) tokens to earn vePTP. vePTP is a non-transferrable token that accumulates over time as you keep your PTP tokens staked, or locked on the platform.
As your vePTP holdings increase, so do the yields you are receiving from your stablecoin yield farming. You can get APY boosts of up to 25% if you hold your vePTP on Platypus for a long period of time.
Is Platypus Finance Safe?
Yes - Platypus Finance is an extremely safe decentralized protocol because they are backed by top tier investors like Three Arrows Capital, and have audits from the best security teams. There is currently over $1 Billion locked in the Platypus Finance protocol, which means it is trusted by large institutions.
If you need to get funds onto the Avalanche blockchain to use Platypus, read out ETH to AVAX Bridge Guide.
Platypus Finance Price
The chart below is the live Platypus Finance (PTP) price in US Dollars.