Echidna can draw capital from other blockchains to Avalanche by giving attractive yield farming options for stable assets, hence growing user count and on-chain TVL.
Echidna Finance is the protocol that maximizes the yield on Platypus Finance. It aggregates PTP and permanently stakes it in Platypus to fund our vePTP treasury. Without owning PTP, everyone can utilize our treasury to optimize their stablecoin APRs on Platypus. The Echidna platform has three primary use cases:
Echidna is dedicated to evolving with Platypus and its users. The team views Platypus as a critical public utility that will increase Avalanche’s user and on-chain TVL while also creating money for Platypus users. Because Echidna will serve as a catalyst for both processes, it must make judgments that maximize public value. In light of this conclusion, Echidna established the following guiding principles:
Stablecoin holders can deposit your stablecoins into Platypus directly through Echidna’s Zap feature, which combines stablecoin staking on Platypus and subsequent LP token staking on Echidna into a single process so you can auto-stake your stablecoins conveniently.
Platypus LPs can deposit your LP tokens into Echidna to maximize yield without holding any PTP. We remove all complications with capital allocation, rewards claiming, price volatility, and vePTP withdrawal penalties to provide you with a simple, streamlined process for maximizing your returns.
Echidna distributes 80% of protocol revenue earned from LP tokens via boosted emissions to LP token/stablecoin depositors. For more information see fees.
To maximize your returns from stablecoin farming on Echidna:
Echidna creates fungible and tradable token derivatives in return for PTP contributions. PTP holders can deposit their PTP in our treasury and earn additional passive income through the native token, ECD, as well as a share of Echidna’s PTP earnings. Users will soon be able to monetize PTP’s highly valued voting power (through vePTP) via Echidna.
Through our vePTP treasury, users may stake their Platypus LP tokens on Echidna to increase their reward emissions. Additionally, developers designed the Zap function, which streamlines the process of staking stablecoins on Platypus and subsequent LP token staking on Echidna.
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The Echidna team customized the protocol for Platypus by imitating Platypus’s simplicity and inventiveness while removing its flaws. It eliminates the difficulties associated with capital allocation, reward redemption, and withdrawal penalties, resulting in a simplified approach for optimizing your stablecoin income.
Find more information:
Website: https://www.echidna.finance/
Twitter: https://twitter.com/echidna_finance
Telegram: https://t.me/echidnafinance
Discord: https://discord.com/invite/YaH8yP4X3D
Medium: https://medium.com/@echidnafinance
If you have any questions, comments, suggestions, or ideas about the project, please email ventures@coincu.com.
DISCLAIMER: The Information on this website is provided as general market commentary, and does not constitute investment advice. We encourage you to do your own research before investing.
Marshall
Coincu Ventures
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