There are lots of promising projects introduced in the cryptocurrency and NFT market daily. Finding a successful project to invest in seems to get more challenging these days. However, a few projects that are based on the most modern technology of the digital world attract a lot of attention and create strong communities to support their activities and NFTs. Among all, there is Playtypus Finance (PTP) project. The project is primarily designed to exchange cryptocurrencies. In this article, we aim to review the platform and discuss its NFT project in detail.
What is Platypus Finance (PTP)?
Platypus finance is a one-sided AMM (decentralized exchange) that provides the chance to trade stable cryptocurrencies on its blockchain called Avalanche. The protocol includes a collection of smart contracts that offer higher levels of security, self-custody, capital efficiency as well as resistance to censorship. The main products offered by Platypus are the StableSwap and incentivized liquidity provision.
Platypus Finance ran first in 2021 and has revolutionized the DeFi realm with its DEX which provides lower slippage, higher scalability, and enhanced capital efficiency. It is modeled based on Curve Finance, the popular stable coin swap on the Ethereum network. However, Platypus offers better performance by better slippage by optimizing its liquidity pools. It also provides cheaper transactions due to using Avalanche C Chain.
Platypus Finanace and the world of NFTs
PTP also launched a gamified interface that is called Platopia in May 2022. Platopia allows players to mint and trade utility NFTs. Thanks to the Platypus AMM algorithm and its innovative team, Platopia seems to help the platform transform users’ interactions with decentralized exchanges. In fact, by joining the GameFi market, Platypus allows its users to use its original interface that provides the chance to become a part of the ecosystem in long term.
Platopia has an interesting story where a platypus survives a severe snow storm and starts searching for fellow platypuses to create a new community. In this city-building simulation game, players need to stake their crypto assets, use their creativity to earn rewards, and have fun through playtime. The game roadmap suggests that Platopia is primarily a gamified interface. However, the development team plans to release a full world of interactivity with the game.
In phase 2, according to the roadmap, Platopia is upgraded and an in-game interaction forms between the users within the community. It will be designed to provide great perks and uses to the players. But, the most brilliant feature which makes Platopia different from other NFT games is its yields boost NFT. This feature seeks to change how liquidity providers earn may return with various advantages and features.
Yield generating NFT
Platypus provides its users with voted escrow PTP or vePTP. It is a token that facilitates the process of liquidity providers’ returns. The result will be a voluminous APR that may reach up to the hundreds. Besides, there are 10,000 Platypus NFTs to be minted each of which represents a unique platypus hero with randomly generated attributes. The minting process brings the attributes together and creates a score that determines the class of the NFT.
Platypus attributes fall under either A, B, C, or D category as a grading system where the A grade comes with the highest score (4) and the D grade gives the least score (1). Higher scores show more effective skills with platypus heroes.
Platypus heroes
All platypus heroes are born with their specific skills. Yield-boosting capability of a platypus is directly influenced by its skill as well as its NFT score. There are 5 types of skills with the platypus heroes:
- Speedo skill helps to speed up vePTP generation in percentage
- Pudgy skill allows to increase vePTP cap in percentage
- Gifted skill offers to increase players vePTP and vePTP cap by a fixed amount
- Diligent skill increases vePTP generation by a fixed amount (subject to cap)
- Hibernate skill helps a player retain a portion of vePTP upon unstaking (subject to cap)
The good news is that the platform allows the players to possess more than one NFT in the game: however, each address can only be used with one NFT for yield-boosting. Platopia also offers other advantages to its players such as an exclusive Discord channel to share official news and drops about the game. All big updates and announcements are also announced on the Discord channel to let the members be the first to get the news.
NFT pre-sale in Platopia
Platopia provides priority sales for its members as the following:
- Priority sale for vePTP holders: owners with a certain amount of vePTP can have the whitelist spot for NFT minting. The development, however, seems to set a limitation of minting at most 10 NFTs with each address.
- Pre-sale for whitelisted members: All the addresses mentioned as whitelisted can only mint up to a maximum of 5 NFTs.
- Pre-sale duration: Spots are to last for only 24 hours and if the vePTP holders and whitelisted members fail to mint during the priority sale, the allocated spot will be lost. There will be a public sale for the NFT the next day.
Bottom Line
Platopia is a gamified interface that is powered by Avalanche blockchain. It allows players to stake their crypto assets and earn rewards by spending fun and delightful time online. Besides, it offers high-speed, low-cost platforms to its users. If you wish to enjoy this energy-efficient platform, join the Platopia community and enjoy the advantages.
