MCS | DEX + GameFi : Platypus

MCS | DEX + GameFi : Platypus


Greetings from MCS, the derivatives trading platform where traders always come first.

Many people nowadays take great interest in blockchain and cryptocurrency, but due to the lack of education on the field, they experience difficulty in breaking through the barrier of entry. In addition, high volatility of the asset prices cause people to stop investing and leave the market in fear.

However, those who rapidly absorb knowledge on blockchain and the ecosystem are clearly moving forward obtaining wealth together with new information. It’s rather tough to keep up with all the new projects that are emerging into the space.

Among many projects, there is a project that puts game elements on a decentralized exchange to make it easier for people to understand DeFi.

Source: Platypus

What is Platypus?

First of all, Platypus Finance is a one-sided decentralized Automated Market Maker (AMM) designed from scratch to exchange cryptocurrencies on the Avalanche blockchain. In addition, the Platypus Finance protocol has invented a completely new interest rate model.

To put it simply, most protocols rebalance their pools based on arbitrage activity. However, in the case of Platypus, they have implemented a new method of rebalancing the pool based on the interest rate of the stablecoin. This prevents malicious users from demanding excessive rewards with large amounts of capital, encourages a balance across the pool. This also ensures that all users have a stable return on their deposits.

Platypus' new interest rate model is the first and only DeFi protocol to automatically rebalance pools based on floating rates.

Comparison to the 1st Generation Stable Swap

Existing stableswap designs inevitably lead to higher slippage and lower qualities of user experience, which in turn hinders the scalability and efficiency of the protocol.

source: Platypus

From the table above,

  1. Lower Slippage: A breakthrough of the one-sided liquidity pool improves capital efficiency, resulting in lower declines than traditional Stableswaps.
  2. Higher Scalability: Easily add or remove new tokens to the main pool and scale naturally with organic demand and supply, greatly simplifying the user experience (UX).
  3. Better User Experience: Platypus’ DEX design is easy to use and users can always deposit and withdraw the same kind of token without worrying about pool configuration or size.

Dex + GameFi?

Despite the tremendous value that DeFi brings to the world, one urgent issue that has hampered widespread adoption is the lack of a system that introduces complex concepts in an easy-to-understand manner.

Platypus has been struggling with widespread adoption and created Platopia as they thought the GameFi element could be an effective tool for learning. To be clear and not have any misunderstandings, Platypus is not going to be replaced by GameFi. Rather, GameFi is an add-on and the existing Platypus app works the same.

Platopia is an urban construction simulation game where you can bet cryptocurrency and be rewarded in a fun and creative way. It is a place where the heroes of Platypus can customize and design Platopia as desired, and it is a space where they can immerse themselves, exchange, visit each other's cities, exchange utilities*, etc.

All in all, Platypus users can participate and enjoy learning on Platopia if they wish. However, if users only want to use Platypus as a DEX, the platform can just be used for exchanging cryptocurrencies on the Avalanche blockchain.

*Platypus Utility: The utility function has not yet been disclosed.

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