This month, we're thrilled to unveil a suite of enhancements across SDX, exciting developments in community rewards powered by Armada, and significant progress in the PSY Reloaded initiative.

From features safeguarding liquidity providers to empowering the BONK community and revamping PSY staking for enhanced governance, here’s a look at our February.

DAO Treasury Growth and Vault Performance

DAO Treasury: $3,929,637 (-8.94% MoM)

1. USDC: 687,017.51 ($687,018) (+0.02% MoM)

2. HXRO: 2,060,496 ($178,081) (-5.64% MoM)

3. scnSOL: 172.456 ($22,663) (+8.99% MoM)

Vault Performance: Monthly Overview

• BTC Secured Put Vault

  • Premiums earned: 1,237.90 USDC (-31.08% MoM)

  • Historical performance (3 months): 5.53% APY

• SOL Covered Call Vault

  • Premiums earned: 14.43 SOL (-20.18% MoM)

  • Historical performance (3 months): 5.55% APY

• ETH Covered Call

  • Premiums earned: 0.21 ETH (+200% MoM)

  • Historical performance (3 months): -8.98% APY

SDX: New features, new markets

Introducing the Volatility Circuit Breaker:

• A new safety feature to protect liquidity providers (LPs) from pricing errors during high volatility periods.

• Automatically expands bid-ask spreads based on historical volatility to prevent adverse positions, ensuring the market remains fair and functional for all participants.

Revamped ITM Options Pricing:

• Addressed feedback on ITM options being too expensive for buyers and undervalued for sellers.

• Implemented a fixed discount on the intrinsic value for all ITM options, balancing the market for both buyers and sellers and encouraging a broader spectrum of trading strategies.

Launch of the SDX AMM Dashboard:

• A comprehensive dashboard providing insights into options positions, oracle health, protocol parameters, diagnostics, and hedging history.

• Aimed at enhancing transparency and trust in the SDX platform. Check it out here: https://sdx.markets/dashboard

Trade SOL Options:

• Successfully launched a SOL options market, achieving over $500k in trading volume since its introduction.

Start trading: https://sdx.markets/trade 
Join the conversation: https://t.me/sdx_markets

Powering BONKrewards with Armada

Introducing BONKrewards:

• A novel rewards system, powered by Armada, enabling BONK holders to lock their tokens and earn rewards from community-built BONK ecosystem products like BonkBot and BONKswap.

Rewarding Ecosystem Participation:

• The more success BONK ecosystem products achieve, the greater the rewards for users who lock their BONK. Opting for longer lock periods boosts rewards even further!

Statistics:

• 94,093 unique addresses have participated in staking

• Over 2.7 trillion BONK ($70 million) securely locked

• The average stake duration stands at 4.38 months

Find out more: https://bonkrewards.com/

PSY Reloaded

Last month, we announced that our staking program was deployed to devnet and was going through rigorous testing.

This month, we’re excited to share that both Reloaded Phase II and III will be launched simultaneously. Wen? Soon™.

PSY Reloaded Phase II (PSY Stake):

• As a reminder, Phase II is PsyFi DAO’s new staking program for PSY token holders—PSY Stake.

• PSY holders can lock their PSY tokens into PSY Stake for 0-4 years to receive 1-4x sPSY tokens in return. The longer the lockup, the more sPSY tokens users will receive in return.

• These sPSY tokens are staked-PSY tokens that represent the user's ownership weight in the new governance and can be used directly to vote on governance proposals.

PSY Reloaded Phase III (DeMUX):

• DeMUX is a tool built by Armada that allows aggregation of token streams to certain actions.

• These actions can be completely controlled by sPSY token holders, which means that stakers have the ability to decide how rewards flow through the ecosystem.

More details to follow.

What can you help with?

1. Know teams on Solana that are thinking about launching a token or diving deeper into tokenomics? Feel free to reach out to us here.

2. Trade DeFi options: SDX is live. What are you waiting for? Buy or sell crypto options here.

Cheers,
PsyFi

Earn, borrow and lend: https://www.psyfi.io/
Twitter: https://twitter.com/PsyOptions
Discord: https://discord.gg/eVG2Tw2uGe