We present a draft genome sequence of the platypus, Ornithorhynchus anatinus. This monotreme exhibits a fascinating combination of reptilian and mammalian characters. For example, platypuses have a coat of fur adapted to an aquatic lifestyle; platypus females lactate, yet lay eggs; and males are equipped with venom similar to that of reptiles. Analysis of the first monotreme genome aligned these features with genetic innovations. We find that reptile and platypus venom proteins have been co-opted independently from the same gene families; milk protein genes are conserved despite platypuses laying eggs; and immune gene family expansions are directly related to platypus biology. Expansions of protein, non-protein-coding RNA and microRNA families, as well as repeat elements, are identified. Sequencing of this genome now provides a valuable resource for deep mammalian comparative analyses, as well as for monotreme biology and conservation. The duck-billed platypus (Ornithorhynchus anatinus) is a unique egg-laying mammal, with lactation, venom and a bill. It even has an electrosensory system for foraging underwater. Platypuses are monotremes descended from the most basal branch of the mammalian lineage and combine aspects of both reptilian and mammalian biology. Now an international consortium reports the sequence and analysis of the platypus genome. It is an amalgam of reptilian, mammalian and its own unique characteristics that provides clues to the function and evolution of all mammalian genomes. As well as helping uncover the origins of genomic imprinting, analyses show that platypus and reptile venom proteins have been co-opted independently from the same gene families; milk protein genes are conserved; and immune gene family expansions are directly related to platypus biology. The sequence provides an invaluable resource for comparative genomics, and it will be important for monotreme conservation. The cover image shows the bill with electrosensory pits, eye and ear opening behind the eye. Platypuses are monotremes and combine aspects of both reptilian and mammalian behaviour. An international consortium reports the genome sequence and analysis of Ornithorhynchus anatinus and as expected, parts of the genome look more like mammals, whereas other parts more like reptiles or even chickens.