The Avalanche ecosystem StableSwap project Platypus will launch the over-collateralized stablecoin USP

ChainCatcher news, the Avalanche ecosystem StableSwap project Platypus announced the launch of its native stablecoin USP, which is an over-collateralized stablecoin pegged to the US dollar. Platypus stated that the stablecoin will use the TVL of its stablecoin swap protocol as LP collateral, and will also utilize the algorithm of the stablecoin swap protocol as a mechanism to maintain the peg.

ChainCatcher previously reported that in December 2021, Platypus completed a $3.3 million funding round, led by Three Arrows Capital and DeFiance Capital, with participation from 0xVenturesDAO and Avalanche. (source link)