Platypus is a novel stableswap platform that aims to address liquidity fragmentation and improve user experience. It introduces a new AMM on the Avalanche blockchain that manages risk autonomously based on the coverage ratio, resulting in higher capital efficiency. The platform utilizes a single-variant slippage function instead of invariant curves, which reduces slippage and enables better scalability. Platypus is designed to offer a seamless exchange between pegged assets and operates with open-pool liquidity.