Thread by @taktywolf

[0/13] Platypus conquered my mind. In this thread, we review the benefits of providing liquidity to Platypus Finance. In other words, how to get yield by staking stables on @Platypusdefi
Let's begin!

@Platypusdefi [1/13] We are all looking for Passive Income. The best and safest way to do it is staking stables. What if I told you that you can make crazy gains thanks to a new AMM just released?

@Platypusdefi [2/13] Platypus is a whole new kind of AMM for stable swap (please try it). It’s the first of its kind to have a single-variant slippage curve instead of using invariant curves. We won’t go about these details this time. Keep reading. Just remember there is amazing math behind

@Platypusdefi [3/13] Platypus is SAFE. It has already been audited by @hackenclub and @Omniscia_sec . So you can comfortably stake your stablecoins on Platypus without being worried about hacks

@Platypusdefi @hackenclub @Omniscia_sec [4/13] Platypus takes inspiration from Curve’s veCRV setup. You can stake the PTP token and boost your APR for providing liquidity. Staking PTP yields vePTP, a new token that is not transferable or tradable. vePTP mechanism has been introduced to prevent mercenary capital

@Platypusdefi @hackenclub @Omniscia_sec [5/13] There are three different pools: Base Pool, Boosting Pool and AVAX-PTP Pool (we won’t cover it in this thread). The allocation for rewards can be changed by the team and they will soon enable a governance model for vePTP holders

@Platypusdefi @hackenclub @Omniscia_sec [6/13] The Base Pool has 4 accounts (USDT, USDC, DAI and MIM). PTP is emitted to reward stakers for providing liquidity. The APR is directly proportional to the weighting assigned to the stablecoin you stake and inversely to the liquidity available. ⬇️ Liquidity ⬆️ APR

@Platypusdefi @hackenclub @Omniscia_sec [7/13] Let’s now cover the strategy to adopt in order to get the max out of Platypus. If you want to stake stables without having to buy PTP, it does not matter how many wallets you use. Instead, if you have stables and you have bought some PTPs, concentrate all the capital.

@Platypusdefi @hackenclub @Omniscia_sec [8/13] You can stake your $PTP generated in the Boosting Pool and get $vePTP. This pool serves different purposes. It reduces the sell pressure on the $PTP token. In fact, you’re incentivized to not sell PTP and buying $PTP is convenient

@Platypusdefi @hackenclub @Omniscia_sec [9/13] Choosing the stablecoin account. Simply, opt to allocate your capital to the account on which you can enjoy larger deposit shares and weights. Aim to be the favorite big fish of @Platypusdefi.

@Platypusdefi @hackenclub @Omniscia_sec [10/13] It is nearly always true that allocating only a small portion of your budget capital to PTP staking can lead to higher monthly rewards. Stick to the process.

@Platypusdefi @hackenclub @Omniscia_sec [11/13] To maximize your returns, refrain from unstaking. You will lose ALL your accumulated $vePTP when you withdraw any of the staked PTP portion. Unstaking $PTP will undermine your weight share and your yields. Use Platypus carefully. Your $vePTP are precious!

@Platypusdefi @hackenclub @Omniscia_sec [12/13] Once you remember to not touch the staked $PTP and keep the benefits from your $vePTP, you can sell the $PTP you get from the stablecoin staking. If you want to further boost the APR, keep staking $PTP.
Exit the loop, when you feel satisfied.
Enjoy!
⬇️ ⬇️ ⬇️ ⬇️ ⬇️

@Platypusdefi @hackenclub @Omniscia_sec [13/13] If the mechanism sounds harsh to grasp and you don’t want to go through the Platypus research, have a look at projects like @SChainCapital. The team behind @Scarychaincapital does all the hard work for you. The profits they generate go to you through buybacks of $SCC