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American Style Options Protocol
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Tokenized European Options Protocol
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European Style Options Protocol
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PsyFinance
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$PSY & DAO Infrastructure
๐Ÿ’ป
Developers
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Designers
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Governance
PSY is purely a governance token. Collectively, holders of PSY have the power to upgrade the protocol as they see fit, only constrained by the checks-and-balances of the DAO. This allows PSY holders to create incentives to reward participation and drive usage of the protocol.
The COMP governance model is considered the gold-standard by many in the industry, and we followed it to build out the PSY governance model. Anyone with the Minimum Community Tokens to Create a Proposal (PSY) delegated to their address can propose a governance action; these are simple or complex sets of actions, such as adding support for a new asset, changing an assetโ€™s collateral factor, changing a marketโ€™s interest rate model, or changing any other parameter or variable of the protocol that the current administrator can modify.
Proposals are executable code, not suggestions for a team or foundation to implement. They are not limited to the governance protocol itself, but extend to all protocols created by the PsyOptionsDAO including the American v1 and European v1 protocols contributed by the creators at launch.
All proposals are subject to a 3 to 5 day voting period, and any address with PSY delegated can vote for or against the proposal. If a majority is reached, and the Vote Threshold Percentage is reached, it is queued in the Timelock, and can be implemented after the Minimum Instruction Holdup Time has been reached.
Note: The exact requirements for each of the various Governances can be found under the DAO Owned Account Parameters section, and the Treasury Account Parameters section.
PsyOptions aims to foster an engaging and collaborative community, join our Discord or Telegram to get involved in the conversations!
Note: The core contributors are most active in Discord.

Psy Finance DAO

https://realms.today/dao/PSY

DAO Owned Accounts

PsyOptions - American Protocol: R2y9ip6mxmWUj4pt54jP2hz2dgvMozy9VTSwMWE7evsโ€‹
PsyOptions - Tokenized Europeans Protocol: FASQhaZQT53W9eT9wWnPoBFw8xzZDey9TbMmJj6jCQTsโ€‹

Treasury Accounts:

DAO Owned Accounts Parameters

PsyOptions - American Protocol:

  • Owner: GovHgfDPyQ1GwazJTDY2avSVY8GGcpmCapmmCsymRaGe
  • Max Voting Time: 3 days
  • Min. Community Tokens to Create a Proposal: 10,000,000 PSY
  • Min. Council Tokens to Create a Proposal: 1
  • Min. Instruction Holdup Time: 0 seconds
  • Proposal Cool-off Time: 0 seconds
  • Vote Threshold Percentage: 60%
  • Vote Tipping: Strict

PsyOptions - Tokenized Europeans Protocol:

  • Owner: GovHgfDPyQ1GwazJTDY2avSVY8GGcpmCapmmCsymRaGe
  • Max Voting Time: 3 days
  • Min. Community Tokens to Create a Proposal: 20,000,000 PSY
  • Min. Council Tokens to Create a Proposal: 1
  • Min. Instruction Holdup Time: 0 seconds
  • Proposal Cool-off Time: 0 seconds
  • Vote Threshold Percentage: 60%
  • Vote Tipping: Strict

Council Tokens:

  • Owner: GovHgfDPyQ1GwazJTDY2avSVY8GGcpmCapmmCsymRaGe
  • Max Voting Time: 3 days
  • Min. Community Tokens to Create a Proposal: 620,000 PSY
  • Min. Council Tokens to Create a Proposal: 1
  • Min. Instruction Holdup Time: 0 seconds
  • Proposal Cool-off Time: 0 seconds
  • Vote Threshold Percentage: 51%
  • Vote Tipping: Strict
  • Supply: 5
  • Mint Authority: BgsNRwcbaycSh3hGJe6RL2cganSHhZSWdjkoLhqdmAjX
  • Pubkey: 6ysLpWWksxkEQTqKLqxK2YnqhPrCymc3FK43gjZkywwU

Treasury Account Parameters

PSY:

  • Owner: GovHgfDPyQ1GwazJTDY2avSVY8GGcpmCapmmCsymRaGe
  • Max Voting Time: 5 days
  • Min. Community Tokens to Create a Proposal: 100,000 PSY
  • Min. Council Tokens to Create a Proposal:
  • Min. Instruction Hold Up Time: 86,400 seconds (1 day)
  • Proposal Cool-off Time: 0 seconds
  • Vote Threshold Percentage: 60%
  • Vote Tipping: Strict
  • Address: 2v6gYajLxSd2xdfRMz8LCUJrc79Z26PTGmVzqLA5g6KW
  • Mint: PsyFiqqjiv41G7o5SMRzDJCu4psptThNR2GtfeGHfSq

SOL:

  • Owner: GovHgfDPyQ1GwazJTDY2avSVY8GGcpmCapmmCsymRaGe
  • Max Voting Time: 3 days
  • Min. Community Tokens to Create a Proposal: 62,000 PSY
  • Min. Council Tokens to Create a Proposal: 1
  • Min. Instruction Hold Up Time: 0 seconds
  • Proposal Cool-off Time: 0 seconds
  • Vote Threshold Percentage: 2%
  • Vote Tipping: Strict
  • SOL:
    • Address: CyDnoEMVuf21v23bxoS2wXxPdCvRR2yFLfymegMH1WY4
  • USDC:
    • Address: EfNdRWbRU6NpNd3KZq85PDsdTdsp1SBiG1S6Pebo9yA2
  • scnSOL:
    • Address: xvjpiUswL86ba25x8z3tCLd6sdXAZ3eYZe71KFZK7oP

SRM:

  • Owner: GovHgfDPyQ1GwazJTDY2avSVY8GGcpmCapmmCsymRaGe
  • Max Voting Time: 5 days
  • Min. Community Tokens to Create a Proposal: 100,000 PSY
  • Min. Council Tokens to Create a Proposal: 1
  • Min. Instruction Hold Up Time: 86,400 seconds (1 day)
  • Proposal Cool-off Time: 0 seconds
  • Vote Threshold Percentage: 2%
  • Vote Tipping: Strict

FAQ

What Are Council Tokens? What is Their Purpose?

The "Council" is essentially a multisig. The Council provides a failsafe that can vote on, and push proposals if quorum cannot be reached due to lack of community engagement. This keeps the core team from being locked out of governance. Council tokens can always be burned to give up these special privileges once community engagement is active, and they are no longer needed. Additionally, in the event of a team member going rogue, more tokens could be minted so that they are diluted to the point where they cannot do anything.

Who is on the Council?

The Council is composed of four core team members, and one external advisor.

Why Are the Governance Parameters Different For All of the Different Governances?

Parameters vary for the different programs due to their varying degrees of importance to the DAO. For example, our American and Tokenized European protocols have the highest Minimum Community Tokens to Create a Proposal and highest Vote Threshold Percentage because they are the most important programs owned by the DAO. A hostile takeover of these programs should be extremely difficult. This same logic applies to our PSY and SRM treasury accounts.
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