Thread by @cryptomeshe

I've had to explain this beautiful project multiple times in the last few days, so I'm just going to tweet it.

@vector_fi is a yield boosting protocol for @Platypusdefi that creates a flywheel effect with $PTP and $VTX emissions.

A 🧵🪡...

1/16

Lets start with @Platypusdefi and $PTP.

Platypus is a stable coin swap on the @avalancheavax chain.

It's algorithms allow for single sided staking of stables, avoiding the need to create LP pairs.

All pools are rewarded in $PTP tokens

2/16

They incentivize stakers to keep the pools balanced by adjusting the APR of the pools when they get out of balance.

Stakers will convert their coins to the coin with the higher APY thus balancing the pool.

3/16

They incentivize staking your $PTP through Vote Escrow PTP or $vePTP.

Stake your PTP in their vePTP tab and you start earning $vePTP.

You'll earn 0.014 $vePTP per hour for every $PTP you have staked until you reach the cap of 100 times your $PTP staked ~ 3 months.

4/16

The more $vePTP you claim, the higher your stable coin APY will boost.

Unstaking any amount of PTP will reset your $vePTP balance to 0.

This is where the "Vote Escrow" model shines. Nobody wants to lose something they've spent months building up.

5/16

You can guess from the name, $vePTP also gives you voting rights on the Platypus platform.

@Platypusdefi will be implementing Gauge Weight voting similar to @CurveFinance.

$vePTP holders will have a say in the $PTP rewards pool percentages and new pools.

6/16

Coins that wanted to get listed on @CurveFinance started bribing $veCRV holders to vote for their coins.

Why would they do this?

For every $1 they pay out in they can expect to earn about $2.50 in CRV emissions.

@Platypusdefi will launch Gauge Weight voting in Q2 2022.

7/16

Back to @Platypusdefi, the more $vePTP you have, the more voting power you'll have to control the @Platypusdefi protocol.

(And the bigger target you'll be for the bribes).

8/16

That's where @vector_fi comes in.

They're a protocol built on top of @Platypusdefi.

They allow users to convert their $PTP to $xPTP, their own version of $PTP.

They then permanently stake the $PTP in @Platypusdefi and earn $vePTP for @vector_fi.

9/16

You can unstake your $xPTP and trade it back to PTP any time on @traderjoe_xyz with no penalty.

@vector_fi also allows you to stake your stables on their platform and earn the boosted APR's using their $vePTP balance.

They pay rewards in $PTP and $VTX.

10/16

As of this writing, you can earn 388% staking $xPTP, 12.8% staking $VTX and an average of 13% for staking stables.

You can also lock your VTX for 16 weeks to earn a share of the platform's revenue and voting rights.

11/16

As more $PTP gets blackhole'd into @vector_fi, it becomes more scarce and the price goes up.

@vector_fi already has almost 10% of all $PTP staked, the largest holder of it.

As people learn about Vector they have been accumulating and locking $VTX for voting power.

12/16

It's up 7x from launch and 50.33% in the last 24 hours with $3.7M of trading volume.

As the demand for voting power goes up, locked $VTX increases and supply reduces and the price goes up.

Locking for 16 weeks reduces the volatility of the token.

13/16

You can also earn $VTX by participating in the boosted Trader Joe AVAX/VTX pool.

And the xPTP/PTP pool which stays very close to peg, so there's low impermanent loss risk.

14/16

Things to know:

Both @vector_fi and @Platypusdefi have vesting schedules for their team and pre-sale buyers:

docs.platypus.finance/platypus-finan…

docs.vectorfinance.io/getting-starte…

15/16

Stats:

@Platypusdefi already has $863 M TVL

Of which $231M is locked through @vector_fi.

@vector_fi has:
- Blackholed 3.5M $PTP
- Earned 23.8M $vePTP
- 15.4M circulating supply, 100M max supply
- 8M $VTX of the 15.4M is locked for 16 weeks

As always, DYOR <3

16/16

@vector_fi @Platypusdefi #AVAX #DeFiProject #DeFi #stablepool

Ready for the next Convex, but on Avalanche?

https://twitter.com/cryptomeshe/status/1512254877015031808