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PSY Token

NOTE: NO PSY TOKEN HAS BEEN MINTED OR IS CIRCULATING AT THE MOMENT. ANY TOKEN CURRENTLY CLAIMING TO BE PSY IS A SCAM

THE INFORMATION LAID OUT HERE ARE TENTATIVE PLANS FOR A FUTURE TOKEN

This document does its best to explain where PsyOptions needs community contributors and how those contributions are rewarded.

PsyOptions aims to foster an engaging and collaboritive community, join our discord or telegram to get involved in the conversations! Note: The core contributors are most active in Discord.

Developer Contributions#

Contribute code, get PSY!

Grants#

If you have an idea for some sort of protocol, UI Component, or anything else that is useful for the PsyOptions ecosystem please reach out to developers@psyoptions.io. PsyOptions is actively looking to partner and reward developers that want to build with us.

Examples#

Structured Products#

Any sort of structured product that leverages the PsyOptions protocol.

AMM#

An AMM that uses contracts from PsyOptions.

Bounties#

Below is a list of bounties PsyOptions is offering for developers in our community to help out. If you're interested in working on, have completed one, etc. please reachout to developers@psyoptions.io so the list can update accordingly!

Bounty TitleShort DescriptionMore InfoPSY Allocated
Borrow on the Writer TokenA borrow lending protocol could allow the Writer Token to be used as collateral, so option writers can get back some of their underlying.Detailed ticket coming soonTBD
Multi-legged strategy UI componentA react component that leverages the PsyOptions bindings to display payoffs and execute multi-legged strategiesDetailed ticket coming soonTBD

DeFi Thought Leaders#

The core contributors are incredible engineers, but are all retail traders. There are ideas on where PsyOptions should go, but this is a community led project. PsyOptions leans on the community to contribute feedback, ideas, and incredible visions about what the next iteration of PsyOptions should be.

If you want to get involved and help improve PsyOptions, please join the discord and express your interest in becoming a PsyOptions DeFi Thought Leader. If you spur some great converstaions you could land yourself in a private channel with other leaders!

Liquidity Mining#

The PsyOptions liquidity mining program is focused on incentivizing market makers to provide liquidity on Serum’s order books at the best possible prices. Those that price well and have orders filled will receive PSY tokens.

PsyOptions is a complimentary protocol to Serum, so it has no hooks into Serum transactions. Beacuse of that, the PsyOptions Market Tracker will be used to monitor all Serum markets where the base currency is minted from the PsyOptions protocol (i.e. a PsyOptions option contract trading on Serum).

Phase 1#

Duration: about 12 months (1 year) after mainnet beta launch
Total Supply: TBD (PSY)
Weekly Reward Pool: TBD (PSY)

At the end of every week a snapshot will be taken from the PsyOptions Market Tracker. It will detail all contracts that traded on Serum within the week and attrbiute them to the address that posted the order. The tracker will aggregate the contract premiums each address sold and use that aggregate over the total premiums for all addresses that week to determine an addresses share of the Weekly Reward Pool.

For Example:

AddressTotal PremiumsShare of Reward Pool
address_1USDC 500,00066.6%
address_2USDC 230,00030.666%
address_3USDC 10,0001.33%
address_4USDC 1,0000.13%
address_5USDC 9,0001.2%
TotalUSDC 750,000100%

Marketing#

Pay attention to our Twitter. We will be running campaigns where you can get rewarded in PSY.