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Platypus 🔺 (🦆+🦦+🦫)

@Platypusdefi

Jan 16

The AVAX ecosystem is rich in passion & support. People who speak their minds & point out flaws are greatly appreciated by us. We all have the goal of doing good things for the space & dialogues are critical to the growth of the entire ecosystem 🧵

2/ We value transparency & have worked to be since the day Platypus was born. There have been moments a part of our community felt we have not been so, as much as expected. And for this, we apologize.

Sometimes, we need to hear criticisms to see our own imperfections.

3/ In our case, we have been too preoccupied with perfecting the details of the things we bring to the table before we speak. We now understand that to some, it could feel like we've been unresponsive. We take this as a chance to improve in making sure no one feels left behind.

Read 5 tweets

Platypus 🔺 (🦆+🦦+🦫)

@Platypusdefi

Jan 11

#USP101 🔔 How does $USP #liquidation work?

Positions with a health rate lower than 1 are open to discounted collateral liquidation to prevent under-collateralization & protocol insolvency.

We use the dutch auction format, and portions can be filled partially. 🧵

2/ Anyone can trigger a smart contract check of all position health rates. If health rates are below 1, the auction process will be kickstarted. The kickstarter will receive a reward to compensate for their incurred gas fees and efforts.

3/ The contract asks the oracle for the collateral's price and it then calculates the collateral value.

Calculate the auction Starting price by multiplying the collateral value by (1+Buffer). If the buffer is 0, the auction Starting price would equal the collateral value.

Read 8 tweets

Platypus 🔺 (🦆+🦦+🦫)

@Platypusdefi

Sep 1, 2022

🎉We're holding a #PTParty Tweet Thread Competition
$720 in PTP awaiting our lucky winners!

What do you need to do?
#PTPVotingGaugeAnalysis: Tweet a thread explaining our PTParty & Voting Gauge to help more people understand what is happening, what's next, & why it matters! 🧵

2/ Please also share your opinion! It could be a brief background of PTParty, the potential participants, or what you understood about it!

📅 Competition is open from 1 - 6 September
So, what's the criteria for winning? Keep reading!

3/ Our team will assess all the entries based following criteria:
1. Originality, clarity, and accuracy of the content
2. Quality of your thoughts

Note: it must be in English :)

Read 5 tweets

Platypus 🔺 (🦆+🦦+🦫)

@Platypusdefi

Aug 31, 2022

LIVE SOON on Sep 6th...
The long awaited #VotingGauge 💥

#PTParty participants are all prepared to compete with each other to give you the best incentive possible. What's this phenomenon?! 🧵

Learn more about Voting Gauge here: bit.ly/3CIIU3A

2/ Voting Gauge allows vePTP holders to "vote" where $PTP emissions go. The more votes a pool gets, the more PTP emission will be allocated to it. And by now, we all now what that means... more ka-ching ka-ching 💸

3/ It's a dynamic emission where vePTP holders can change where they place their votes anytime! Emission updates in real time too!

And you know what influences the votes? Well, our PTParty participants will offer bribes. It's to incentivize you to vote for their pool 💰

Read 4 tweets

Platypus 🔺 (🦆+🦦+🦫)

@Platypusdefi

Mar 11, 2022

🚨 We are seeing a big wave of new users joining Platypus!🚨
Here are some educational tweets 🧵 to keep everyone in the loop.

PS: we also have a big new feature coming up next week - the new Interest Rate Model.
👀 Watch out for updates!

1/

Platypus has a myriad of innovations in protocol design as a stableswap💪
The most groundbreaking one is its open liquidity pool design which essentially eliminates IL and improves capital efficiency – the lowest slippage for swapping in large volumes.

👉 Here’s how and why:
2/

In an open liquidity pool, all stablecoins (including newly listed ones) are in the same pool. This design gives users great flexibility 🦾 for asset allocation, as no one has to hold on to coins they don't like to be an LP❗
3/

Read 21 tweets

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