April 17, 2024

PSY Reloaded: A Progress Snapshot

  • Reload Phase I - Accelerated Vesting: ✔️
  • Reload Phase II - PSY Stake: ✔️
  • Reload Phase III - DeMUX Launch: 🔜

Having successfully completed PSY Reload Phase I by unlocking all vested tokens, PsyFi is excited to roll out Phase II — PSY Stake.

For those of you catching up, PSY Reloaded is PsyFi's token reboot program. Learn more about PSY Reloaded and its phases here.

Introducing PSY Stake

PSY Stake is a new paradigm in Solana DeFi tokenomics and introduces the ability for:

  • Community Value Accrual: Stakers gain the power to vote on distribution of protocol fee streams.
  • Boost Your Rewards and Vote: Lock your PSY from anywhere between 1 week to 4 years to boost your rewards and governance influence linearly.
  • Diverse Rewards: With PSY Stake, rewards may come in any number of different tokens, at anytime, offering a flexible approach to rewards distribution.
  • Unified Governance and Rewards: Seamlessly integrated SPL governance means no trade-offs between governance participation and earning rewards.

Unleash Governance Superpowers

You might ask yourself why would PSY stakers care about governance voting power if they get rewards regardless?

Well that's because when initially set up, PSY protocol fee streams will be pointed to the PsyFi treasury. However, PSY Stakers will have the ultimate say to vote on determining fee split percentages between the DAO Treasury, rewards, and/or adding to protocol owned liquidity.

This governance model allows for the community creation of reward pools and, with the launch of DeMux (Reloaded Phase III), the redirection of fee streams at any ratio desired by the community. It's now in the hands of the community to decide if they want 100% of protocol revenue streams to benefit stakers or to allocate it differently.

Check out our docs for more details on PsyFi 2.0, and detailed governance tutorials. Your questions, insights, or comments are always welcome. Connect with the PsyFI DAO and our community on our Discord or Twitter.

Stake your PSY: https://tokenomics.psyfi.io/