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Why Echidna

Platypus’ ve-tokenomics incentivizes users to stake PTP for higher returns. PTP staking has the following attributes:

  • Equal allocations of stablecoins and PTP is optimal
  • Staked PTP accrues vePTP by the second until the maximum after 10-months
  • Accrued vePTP must be claimed to be utilized for boosting
  • Unstaking any amount of PTP resets the vePTP balance to 0

While highly remunerative, staked PTP is illiquid, unproductive, and exposes LPs to PTP’s price volatility. These circumstances are unfavorable to stablecoin farmers who are typically risk averse, and to new users who are unable to acquire PTP cost effectively.

Echidna eliminates all drawbacks of boosted farming by allowing LPs to farm with our vePTP. Users can earn boosted rewards just by staking stablecoins. Echidna also transforms staked PTP into a productive asset via liquidity mining emissions. Our protocol unlocks utility, liquidity, and earning power for staked PTP.