What is PsyOptions?
PsyOptions is the project that won the Champion in the Solana Hackathon and aims to be one of the projects DeFi Solana blockchain platform.
Highlights of PsyOptions
Similar to options on other exchanges, PsyOptions allows players to bet on the price up or down at some point in the future in a decentralized manner using the liquidity of the exchange. Serum (largest liquidity pool on Solana).
PsyOptions has 5 parameters for interactive use with the options markets, including:
- Underlying assets: Basic asset
- Quote assets: Property that both buyers and sellers agree on a price.
- Contract size: The size of the contract.
- Strike price: Fixed price at which the user decides to buy or sell.
- expiration: The expiration date of that option contract.
Buy and sell options
PsyOptions allows users to buy and sell options (Option Writer). Unlike on other CEX exchanges, users can only buy options contract options.
The project provides 2 forms of trading options in American style and European style. The American form of trading has been completed and put into use while the European style is still in the development stage.
- An American option gives the holder the right, but not the obligation, to exercise until the expiration date.
- European options give the holder the right, but not the obligation, to exercise at the time of expiration.
- Ticker: PSY.
- Blockchain: Solana.
- Contract: PsyFiqqjiv41G7o5SMRzDJCu4psptThNR2GtfeGHfSq.
- Token Standard: SPL.
- Token Type: Utility, Governance.
- Total Supply: 1,000,000,000 PSY.
- Circulating Supply: 62,000,000 PSY.
- Team/Contributors/Advisors: 15%
- Private Round 1: 5%
- Private Round 2: 7%
- IEO: 3%
- DAO Treasury: 60%
- External Contributor Fund: 8%
- PSY Liquidity Provisions: 2%
Token Release Schedule
Round Private Round tokens will be issued 10% , the rest vested within 4 years with 1 cliff year. Other allocation information of the project is not public.
Token Use Case
- As a transaction fee on the PsyOptions protocol including mint tokens, making transactions.
- Governance tokens to make proposals and vote on important project decisions.
PSY token On which exchange is it traded?
PSY is not currently traded on exchanges.
How to earn and own DOGS Token
PSY . coin storage wallet
Can be stored on Coin98 Wallet.
Enter Coin98 Wallet Referral ID as “C98NBDN89Q" to support BTA.
The PsyOptions project development team includes twin brothers Tommy and Taylor Johnson.
Investor & Partner
The project has raised $3.5M in funds led by Alameda Research, and with the participation of CMS Holdings, Ledger Prime, MGNR, Wintermute, One Block and Airspeed18.
Dapps built on PsyOptions include:
Community & Social
Above is an article sharing the main information of the PsyOptions project and the PSY token. What do you think about the development potential of this project? This article is intended to provide project information only and is not investment advice.
Don't forget to follow the column Project review of the Virtual Money Blog to get the fastest updates on details about the hottest projects on the market.