July 8, 2023

Welcome back to our monthly roundup!

June has been a roller coaster of developments, milestones, and forward momentum at PsyFi. Dive in for an in-depth look at our treasury and vault performance, catch up on our latest partnerships, and get a glimpse of our ambitious roadmap for the future.

Our treasury continues to display encouraging growth. This month, we saw an upward trajectory in value across all our major holdings — USDC, scnSOL, and SOL. Let’s dive deeper into the figures and see how this month’s performance stacks up against last month’s.

DAO Treasury Growth and Vault Performance

DAO Treasury: $2,743,004 (+5.24% MoM)
  • USDC: 684,902.6212 ($684,902) (+0.03% MoM)
  • scnSOL: 156.357259625 ($2,941) (+3.45% MoM)
  • SOL: 65.457614741 ($1,092) (+3.68% MoM)

Vault Performance: Monthly Overview

BTC Secured Put Vault
  • Total premiums earned: 2,483.82 USDC (+28.07% MoM)
  • Historical performance (3 months): 3.54% APY
SOL Covered Call Vault
  • Total premiums earned: 28.93 SOL (+33.74% MoM)
  • Historical performance (3 months): -0.16% APY
scnSOL Covered Call Vault
  • Total premiums earned: 64.55 scnSOL (+27.26% MoM)
  • Historical performance (3 months): -1.36% APY

Taking Solana DeFi to the next level with Hxro Network

We’ve partnered up with Hxro Network to take Solana DeFi to the next level!

The objective of this collaboration is to create an innovative line of products that will serve as public goods for the Solana DeFi community, and revitalize the excitement within the Solana ecosystem.

The partnership will give birth to a new platform powered by both PsyFi and Hxro, promising to bring some remarkable advancements in Solana DeFi. Here’s a sneak peek of what we’re working on:

  1. Liquidity Bootstrap Curve (LBC): Facilitating efficient token price discovery at launch, the LBC will empower projects in the Solana ecosystem.
  2. CLP Product: This will introduce a unique approach to managing liquidity provision to Concentrated Liquidity Market Maker protocols.
  3. Floating Strike Option: A fresh take on physically settled options, with a strike price that adapts according to the market price of the underlying asset.

While we’re eager to share more, we’ll hold onto the details for now. Stay tuned for more updates on this groundbreaking partnership and the thrilling new products that are soon to be unveiled!

PsyFi Trailblazers

Just three weeks after getting listed on Trails, a leading discovery platform, we’ve already onboarded 158 new users, and the impact on our visibility and user engagement has been substantial. This marks an exciting milestone in our mission to widen our reach and foster a diverse, vibrant PsyFi community.

If you’re interested in becoming a PsyFi trailblazer, feel free to check it out here: https://www.trails.fm/PsyFi

PsyFi is Heading to AssetDash!

We’re keeping the momentum going!

Hot on the heels of our successful Trails debut, we’re excited to announce that PsyFi will soon be making its way to AssetDash. This listing is another step towards increasing our visibility and reaching new audiences. Keep your eyes peeled for our official launch on the platform, as well as an AssetDash Vanta NFT giveaway — more details coming soon!

Airdrop Distributed to PsyLend Early Users!

As a token of our appreciation to the early adopters of PsyLend, we’ve just distributed 180,000 $PSY Call Options. If you were among those who:

  • held a PsyLend Early Access Pass NFT and
  • supplied at least 10 USDC worth of any asset,

you would have received this airdrop.

Thank you for your early support and commitment to our journey. Stay tuned for more updates and opportunities!

Looking Ahead: What’s in store for July

As we continue to innovate and enhance our offerings, we’re excited to preview some upcoming initiatives.

PsyFi DAO Delegation Plan: In our commitment to foster a truly decentralized and community-led platform, we are thrilled to announce that our much-anticipated Delegation Plan will be going live in July. This initiative will not only enhance the democratic character of PsyFi’s governance, but also reward our active participants.

New month, new look: User experience is at the forefront of everything we do. With that in mind, we’re excited to announce that we are currently in the process of revamping PsyFi. This significant makeover will feature numerous UI/UX improvements, ensuring a more seamless, intuitive, and enjoyable experience for all our users.

Join Us in Shaping PsyFi’s Future

As PsyFi evolves, the heart of our journey remains you — our users and investors who push us to achieve greater heights. Your insights and support make a real difference to our growth. We invite you to take an active part in PsyFi’s exciting future:

1. Treasury Portfolio Optimization: This proposal suggests the allocation of $100,000 from our USDC reserve to purchase SOL, which would then be staked using a liquid staking platform to generate yield. The potential benefits include staking yield, price speculation, community engagement, and asset diversification.

You can read more about it here: https://discord.com/channels/821571258852442142/1118997366062731325

2. Robox.Fi Collaboration: Robox.Fi, an NFT leverage trading platform on Solana, has proposed an alternative or addition to the treasury optimization plan. By staking SOL in Robox’s liquidity pools, PsyFi could potentially generate substantial yields, gain exposure to the rapidly growing NFT market, and deepen our engagement with the Solana ecosystem.

You can read more about it here: https://discord.com/channels/821571258852442142/1120919058313920562

3. Vault Expansion: The third proposal suggests depositing a portion of the acquired SOL into our vaults if the treasury optimization plan passes. This could potentially increase APY, contribute to overall liquidity within our ecosystem, and encourage the growth of our community.

You can read more about it here: https://discord.com/channels/821571258852442142/1120985499763478538

Your insights, feedback, and active participation in governance are vital to PsyFi’s evolution. We encourage you to join our Discord server, take part in these discussions, and help shape the future of PsyFi.

As we look forward to another productive month at PsyFi, we want to express our gratitude for your ongoing support and involvement. Let’s continue making strides together!


Earn, borrow and lend: https://www.psyfi.io/

Twitter: https://twitter.com/PsyOptions

Discord: https://discord.gg/eVG2Tw2uGe