Thread by @HYPERDailyTK

🐧Platypus token breakdown🐧

Did you know that the $PTP coin, besides being used on @Platypusdefi , can also be used in other protocols and has interesting use cases?

Dive in with us 🧵👇
$AVAX #AVAX #Avalanche

@Platypusdefi 1/ @Platypusdefi

- Stake $PTP on Platypus to Boost Yield
- When you stake $PTP you also receive $vePTP -> Boost more Yield

@Platypusdefi 2/ @vector_fi

Vector Finance is a DeFi project that belongs to the Yield Optimizer model on Avalanche. Precisely, Vector symbiotically works with Platypus Finance.
Vector allows users to deposit stablecoins, stake $PTP and earn greater profits than on Platypus Finance

@Platypusdefi @vector_fi 2.1/ Use Cases

User Stake PTP via their minted token, xPTP, to receive Vector's revenue and bonus VTX tokens. Stablecoin holders can stake their stablecoins on Vector and earn boosted yield, without having to worry about staking PTP for vePTP.

@Platypusdefi @vector_fi 2.2/ How it works

- Convert your PTP to xPTP
- Stake xPTP to earn a share of the performance fees generated by the VTX platform
- Receive rewards in PTP and VTX

@Platypusdefi @vector_fi 3/ @echidna_finance

Echidna Finance is the ultimate yield boosting protocol for Platypus Finance. Echidna aggregates PTP and stakes then into Platypus permanently to build their vePTP treasury. Users can leverage our treasury to maximize their stablecoin APRs without owning PTP.

@Platypusdefi @vector_fi @echidna_finance 3.1/ Use Cases

- PTP holders can deposit their PTP to our treasury and be rewarded with extra passive income via $ECD, as well as a percentage of Echidna’s PTP revenue. Users can also monetize PTP’s highly coveted voting power (via vePTP) through Echidna in the near future.

@Platypusdefi @vector_fi @echidna_finance - Users can stake their Platypus LP tokens on Echidna to boost their rewards emissions via our vePTP treasury. Their devs have also created a Zap feature, which combines stablecoin staking on Platypus and subsequent LP token staking on Echidna into a single convenient process.

@Platypusdefi @vector_fi @echidna_finance 3.3/ How it works

- Convert $PTP to $ecdPTP
- Stake $ecdPTP for $ECD
- Lock $ECD
-> Accrue $veECD
Earn protocol fees in $PTP
Boosted yield for $PTP - $ecdPTP LP

@Platypusdefi @vector_fi @echidna_finance Thread is for informational purposes only, not investment advice.
Do your own research before making any investment decisions.