LP Rewards & Platform Fees
80% of all PTP earned by Echidna is remitted to stablecoin LPs. These rewards are claimable at any time.
20% of all PTP earned by Echidna are collected as platform fees and redistributed as follows:
- 40% veECD holders
- 60% to treasury
- ecdPTP buybacks for peg maintenance
- Staked into platform to accrue vePTP
- Paired with ecdPTP to deepen ecdPTP-PTP pool liquidity
When PTP enters Echidna’s ecosystem it is converted into ecdPTP. All PTP received from ecdPTP conversions will be permanently staked into Platypus Finance to accrue vePTP for rewards boosting and voting power in Platypus voting gauge.
Users can either stake ecdPTP or pair it with PTP and supply liquidity to the PTP-ecdPTP pool to earn ECD emissions (ecdPTP staking has more emissions directed to it). ECD tokens can be locked to boost ECD emissions by up to 3x, earn platform fees, and to participate in Echidna & Platypus governance.
The three tokens in Echidna’s token model are as follows:
- Tokenized deposit of PTP tokens
- Users can exchange their PTP for ecdPTP at a 1:1 ratio. This action is not directly reversible in Echidna. Secondary markets (Trader Joe) exist for this reversal
- Stake to earn ECD. Staking emissions can be boosted by locking ECD
- Can be paired with PTP for ecdPTP-PTP pool to farm ECD
- Echidna’s governance token
- Can be swapped for AVAX on Trader Joe
- Emitted as liquidity mining rewards for ecdPTP staking and ecdPTP-PTP farms
- Can be locked for veECD
- Voting escrow Echidna token
- Boosts liquidity mining emissions for ecdPTP staking and PTP-ecdPTP farm up to 3x base APR
- Grants holders 40% of Echidna’s platform fees paid in PTP