Platypus Opens USDT Pool

Platypus Finance announced the launch of its first native USDT pool offering users new ways to put USDT to use and earn high APYs.

DeFi users are always looking for yields and Platypus has a new pool that’s sure to look attractive to many such users. The Avalanche-based protocol is designed to help users exchange ERC-20 tokens without the need for a trusted third party. Its implemented via smart contracts and designed to prioritize capital efficiency. The announcement of the new USDT pool means users can expect substantial APYs on USDT deposits.

Users should always remember that use of these protocols involves a variety of risks. High APYs attract users but are also fundamentally unsustainable. Also, the use of centralized stablecoins like Tether in protocols that are supposed to be decentralized raises a number of questions. Both USDC and USDT tokens can be frozen by the centralized entities behind their issuance.