Platypus Finance (PTP)
Basics
- History
Audits & Exploits
- Platypus offer up to $100k with a static bug bounty program (2-2-2022).
- Scored 73% on DeFi Safety (2-2-2022):
"No indication of code coverage but clearly there is a complete set of tests. There is no report on formal verification. Platypus Finance has been audited twice before deployment."
With the comment:
"We are pleased to announce that we were able to raise the score of Platypus Finance from 43% to 74%, giving them a passing score! Through communicating with @MrBeaverTail, we were able to guide them in the publishing of their Admin Controls, Timelock and Oracle documentation.
While there is still work to be done, we would simply like to highlight the efforts of the Platypus team in making their protocol more transparent. They have a larger Bug Bounty and multiple documentation updates on the way, so you can be sure that they are far from finished."
Bugs/Exploits
- From Block Bytes (2-3-2023):
"Platypus Finance has announced that it will repay a minimum of 63% of funds to users after recovering a part of the $9 million drained from the protocol last week. The protocol contacted Binance to confirm the exploiter’s identity. The hacker used a Binance account that went through know-your-customer checks for a withdrawal request.
Platypus contacted law enforcement and filed a complaint in France. French police have arrested two suspects in connection to the hack, with 210,000 euros worth of cryptocurrency seized in the arrest."
Governance
Admin Keys
- From DeFi Safety (2-2-2022):
"The upgradeability docs mention that all the Platypus Finance smart contracts are currently upgradeable via ProxyAdmin, and this function will be owned by the protocol's governance module in the future. The upgradeability docs mention MultiSig details. In addition, contracts are currently owned by ProxyAdmin, which is what the MultiSig controls. A pause control is documented without explanation. A timelock is identified without time frame specifications."
DAO
Treasury
Token
Launch
Token Allocation
Utility
Other Details
Stablecoin
Coin Distribution
Technology
- Whitepaper or docs can be found here.
- Code can be viewed here. From DeFi Safety (2-2-2022):
"With 4 commits and 1 branch, this is not a healthy repository."
Implementations
- Built on: Avalanche
How it works
Fees
Upgrades
Staking
Validator Stats
Liquidity Mining
Scaling
Interoperability
Other Details
Oracle Method
- From DeFi Safety (2-2-2022):
"Platypus documents the use of ChainlinkProxyPriceProvider contract. The protocol does not mention front running or does not document any countermeasure against it. Platypus details the mitigation of flash loans in 8.1 and 8.2 of their AMM Yellow Paper."
Privacy Method
Compliance
Their Other Projects
Roadmap
- Can be found [Insert link here].
Usage
Projects that use or built on it
Competition
Pros and Cons
Pros
Cons
Team, Funding and Partners
Team
- The team remains anonymous (2-2-2022).
Funding
- Mechanism Capital lists them in their portfolio as of 15-5-2023.
Partners
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