Echidna Finance — a yield enhancer, built for Platypus Finance. LP stablecoins can use Echidna's vePTP treasury to increase their LP rewards on Platypus without PTP staking.
Characteristics of the Echidna Finance project
Echidna removes all complexities of withdrawal fees, capital allocation and vePTP, claiming to provide users with a simple streamlined service.
Echidna also turns PTP staking into a productive asset through mining liquidity emission. The protocol reveals the utility, liquidity and profitability of PTP. Echidna turns PTP into an income generating asset. 55% of the total supply of ECD tokens is reserved for liquidity mining for PTP contributors. Users can also lock ECD to increase ECD liquidity mining reward and earn 40% Echidna platform fees. More importantly, the hidden power of PTP voice is tokenized in ECD, allowing Echidna users to trade and monetize this much-desired resource.
Why should you trust this project:
| 1. | Increase your Platypus LP rewards without worrying about capital allocation or withdrawal penalties. Just make a deposit to earn more. |
| 2. | Turn your PTP into an income generating asset. Convert your PTP to Echidna and lock up ECD to earn high APR and 40% Echidna fees. |
| 3. | Get extra rewards from stablecoin protocols, competing for emissions with the Platypus Voting Sensor. |
The Echidna stablecoin farm is based on Platypus Finance and retains almost all of its characteristics, with the exception of a few updates. Farming rewards are paid exclusively in PTP (unless there is a special reward event). Special event rewards are fully transferable to users. Echidna does not charge commission for special rewards.
Echidna integrates all Platypus pools that support vePTP support. The Platypus interest rate model applies to Echidna pools as well. If you choose to withdraw your funds, you will receive stablecoins for both stablecoin deposits and LP token deposits. Commissions, incurred for Platypus transactions, will be deducted from the respective deposit/withdrawal without any additions.
Other features of defi app
Staking ecdPTP is the key to value creation at Echidna Finance. 55% of the total supply of tokens is exclusively for ecdPTP staking. Echidna's PTP conversions automatically install ecdPTP for users. Staking or withdrawing ecdPTP stakes requires outstanding ECD rewards in the process. Emissions for ecdPTP staking can be increased by blocking ECD.
ECD can be locked to veECD in Echidna, giving Echidna users 3 key benefits:
- Voting rights in the management of Echidna and voting sensor.
- 40% platform fees.
- Increase the annual interest rate for ecdPTP staking and PTP-ecdPTP farm, up to 3 times the base annual interest rate.
These benefits are activated at the time of blocking the ECD and receiving the veECD in return. A user's share of veECD in relation to the entire veECD pool determines their voting power, their share of the platform fees and their boost power.