Platypus USD ($USP) is an overcollateralized stablecoin on Avalanche built on the foundations of the Platypus stableswap. The introduction of USP improves capital efficiency in the Platypus system and reduces the dependency on external assets in its operation.
The Platypus stableswap was designed to improve capital efficiency in the stableswap market. It introduced the open liquidity pool design, which solves liquidity fragmentation into different pools and enables the addition and removal of pool constituents. Platypus USD, referred to as USP, extends this foundation by utilizing the staked tokens to improve capital efficiency, protocol profitability, and ecosystem sustainability.
