Platypus Finance is a decentralized finance (DeFi) protocol that operates as a decentralized exchange (DEX) on the Avalanche C-Chain. Its core innovation is an open liquidity pool, single-sided AMM design which aims to provide lower slippage, higher scalability, and a better user experience for stablecoin swaps compared to traditional AMM models. Users can provide liquidity using a single token type, rather than a pair, to earn rewards from trading fees and the platform's native PTP token. The project's history includes a significant security exploit in February 2023, from which it has been actively working to recover and compensate affected users.

Founded in

Australia