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Psy Options project overview
- About the Psy Options project
- Mechanism of action
- Tokenomics
- Information
- Token Allocation
- Token Release Schedule
- Development team
- Investors
- Route
- Epilogue
About the Psy Options project
Psy Options is a decentralized options exchange project, built and developed on the Solana ecosystem. It provides a secure, fast and developed trading platform based on Solana blockchain technology, allowing users to trade options with high accuracy and good liquidity.
Mechanism of action
Psy Options is an options exchange that gives users the ability to buy or sell underlying options. Each option contract on the platform consists of 5 important components: the underlying asset, the quoted asset, the expiration time, the strike price, and the contract size.
- The underlying asset is the asset that the user predicts will increase or decrease in price to exercise the option.
- Quoted assets are assets that users use to pair with the underlying asset.
- The expiration time is the final time at which the option buyer must decide whether to exercise the option or not.
- The strike price is the price at which the option contract is exercised.
- The contract size is the amount of the underlying asset the user wants to exercise the option on.
With these components, Psy Options provides users with a simple and transparent way to trade options with high accuracy and good liquidity.
Tokenomics
Information
- Project name: Psy Options
- Token: PSY
- Token classification: SPL
- Total Supply: 1,000,000,000 PSY
- Smart contract: Psy…GHfSq
Token Allocation
- Team/Contributors/Advisors: 15%
- Private Round 1: 5%
- Private Round 2: 7%
- IEO: 3%
- 1% FTX IEO
- 1% Gate IEO
- 1% Initial liquidity and initiatives
- DAO Treasury: 60%
- External Contributor Fund: 8%
- PSY Liquidity Provisions: 2%
Token Release Schedule
Tokens will be distributed within 4 years, with the following terms:
- Core Team & Advisor will be locked for 1 year and then gradually distributed over the next 3 years.
- All investment rounds from VCs will be distributed at the beginning, but will be more profitable if kept for at least 1 year.
Development team
Below is information about the members of the development team of Psy Options:
- Tommy Johnson and Taylor Johnson were two team members that won the Solana x Serum DeFi Hackathon and made initial contributions to Psy Options. Tommy has over 10 years of experience in the engineering industry and has been involved in building Solana since day one, while Taylor is in charge of front-end development and also has over 10 years of experience in the engineering industry.
- Whiteseal is an expert in cybersecurity and user experience design, with a PhD in computer engineering specifically cybersecurity. In the field of Crypto, Whiteseal got involved in Bitcoin mining and sold most of the Ethereum mined for a high price.
- Jerry is a core contributor to the expanding portfolio of products in the Psy ecosystem, with over 6 years of experience working in technical expertise in many leading startups and technology companies.
- LaikaSoul is a core contributor to Psy Finance and focuses on scaling infrastructure to accommodate billions of users. Laika has over 10 years of experience in business development and expansion for startups.
Investors
On October 19, 2021, PsyOptions attracted $3.5 million worth of investments from various investment funds, including Alameda Research, CMS Holdings, Ledger Prime, MGNR, Wintermute and Airspeed18.
Route
In Q3 2022, the v2 version of Psy Markets will be released, with the Future Trading feature added, along with the Cross chain feature that allows trading on different chains. Then in Q4 2022, version v3 of Psy Markets will be launched with Spot trading added to enhance user experience when trading on the platform.
Epilogue
With the drop of the market and the weakening of FTX, the Solana ecosystem has suffered a lot, and Psy Options has also been hit hard. Currently, the project TVL is just over 2 million USD. If you are interested in the project, please follow to update the latest information on the project's social pages:
Website | Twitter | Telegram
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