Avalanche Farming Tutorial by Defi Dad

Avalanche Farmers Guide: How to LP with Stables on Platypus and Lend WBTC, ETH, AVAX on Beta Finance

Before we get started, this is not a recommendation or endorsement to buy PTP, BETA, or any token mentioned.

Today, I woke up to read this thread from the Managing Partner at Dragonfly Capital, Haseeb Quereshi. Haseeb is legendary for being able to communicate the complexities of crypto, but in a more digestible way.  I really like this proposed mental model for smart contract chains as cities, where L2s are like skyscrapers, and how these cities will grow their own unique communities over time.

He cleverly likens Ethereum to New York City, “expensive, congested, slow, and only the wealthy can afford to interact with it anymore” with “the biggest banks, the most billionaires, the hottest brands and celebrities.” 

One smart contract chain he calls out among the many we’ve covered previously is Avalanche. He describes Avalanche as “trying to be the next Wall Street, but newer, cheaper, more aggressive.” A year ago, if you had asked me if Avalanche would ever grow to see even $1B TVL, I would have balked at it. Avalanche has launched enormous grants since this to incentivize new yield farms and I have to admit their business development team has worked very hard to attract builders to Avalanche.

In the spirit of remaining constantly curious and open to new protocols and dApps, I wanted to highlight 2 newly deployed protocols on Avalanche.

First, Platypus Finance is a new single-sided stableswap AMM, similar in utility to what we’ve used in Curve Finance. However, Platypus claims to offer even