Thread by @rogeravax

My Strategy for Playing the #PTParty #PTPwars
(16-Part Thread Incoming)
#PTParty starts *TODAY* Sunday Feb-27 6pm UTC

This has already caused a massive run-up in PTP against a shaky macro crypto & #AVAX market

So what's going on?
1/16

What does #PTParty mean?
3 protocols, an established one @yieldyak_ $YAK & 2 new projects @echidna_finance $ECD, @vector_fi $VTX are launching strategies on top of @Platypusdefi $PTP to give users enhanced % APYs on stablecoins

Let's unpack this...


2/16

Topics to discuss
1) What does @Platypusdefi $PTP do?
2) What will @yieldyak_ $YAK, @echidna_finance $ECD & @vector_fi $VTX do to enhance this
3) What’s the optimal strategy for playing this?
3/16

1) What does @Platypusdefi $PTP do?
- PTP is an innovative stableswap
- It incentives liquidity by providing liquidity providers a base % APY, then boosting that % APY by staking PTP for $vePTP that provides that boost
4/16

- The brilliance of their ponzinomics is that if you unstake even 1 PTP, you lose ALL your vePTP. So it encourages hoarding @Platypusdefi $PTP

Downside is that you can never sell if you want to maintain those sweet boosted % APYs
5/16

2) What will @yieldyak_ $YAK, @echidna_finance $ECD & @vector_fi $VTX do to enhance this?

In a nutshell, these protocols hoard $PTP / $vePTP for you. All have differing mechanics, but generally asks to exchange your PTP for some xPTP 1:1. They hoard your PTP *forever*,
6/16

while giving you a 1:1 asset that is liquid & also earns rewards

The underlying mechanic is modelled after what @ConvexFinance $CVX has done with @CurveFinance $CRV, known as the “Curve Wars”

A great article that discusses this:
defieducation.substack.com/p/the-great-cu…
7/16

There's an added layer, where control of locked $PTP, $vePTP, will provide gov. rights to how rewards are distributed. W/out going too deep, these #PTParty projects assume that right & their own gov. tokens will become v powerful & potentially v. valuable
8/16

.@echidna_finance has a great Medium article that discusses how this translates for their project (YMMV with the other 2 projects)

The parallel to @CurveFinance & @ConvexFinance
$PTP = $CRV
$vePTP = $veCRV (sort of)
$ecdPTP = $cvxCRV
$ECD = $CVX

medium.com/@echidnafinanc…
9/16

blah blah so enough of this boring stuff, you may be asking yourself, how do I make money off of this?
10/16

3) What’s the optimal strategy for playing this?
Right now, I have a massive @Platypusdefi $PTP, but that's locked & perma-stacked to keep earning those sweet boosted %APYs on my stablecoins
11/16

Yesterday I started hoovering up spot @Platypusdefi $PTP in anticipation of massive near-term buying pressure going into the #PTParty launch date TODAY 6pm UTC

That thesis has proven correct so far & I believe it will continue to LT as the #PTParty theme plays itself out
12/16

All the #PTParty platforms, @yieldyak_ $YAK, @echidna_finance $ECD, @vector_fi $VTX building on top of @Platypusdefi are providing *significant* incentives to stake $PTP on their platforms, particularly to early participants

Launches are all coordinated for TODAY 6pm UTC!
13/16

Having a large spot $PTP position gives me flexibility to stake into $YAK, $ECD & $VTX depending on the highest rewards &/or sell into market

Note: I'm uber-bullish PTP LT & any selling should be considered tactical & a risk mitigant given its a high % of my net worth
14/16

For the ST, I suspect I will be concentrating my efforts on the newer projects, @echidna_finance $ECD & @vector_fi $VTX given "new token"

Both had successful recent launches on @traderjoe_xyz Rocket Joe $rJOE
15/16

Overall, #PTParty has been one of the most exciting themes to come to the #AVAX defi ecosystem

This thread outlines my initial framework, but would love to get your feedback & strategies on how you are playing this

So many interest metagames & way to play!

GL to us!!!
16/16

Addendum
Separately, I will continue to stake my stablecoins on on native @Platypusdefi as I'm earning 60%-150% boosted % APYs

I'll be looking to move over my stables to the new platforms as they overcome my incumbent $vPTP position