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PsyFi March 2024 Update

Here's a quick look at how our March went.

AuthorAuthor

PsyFi & Nazri Nordin
April 04, 2024

DAO Treasury Growth and Vault Performance

DAO Treasury: $4,277,010 (+8.74% MoM)

  1. USDC: 687,132.53 ($687,132) (+0.01% MoM)

  2. HXRO: 2,060,496 ($190,610) (+7.03% MoM)

  3. INF: 172.456 ($38,540) (+70.05% MoM)

Vault Performance: Monthly Overview

  • BTC Secured Put Vault

    • Premiums earned: 1582.15 USDC (+27.8% MoM)

    • Historical performance (3 months): 6.54% APY

  • SOL Covered Call Vault

    • Premiums earned: 20.16 SOL (+39.7% MoM)

    • Historical performance (3 months): -15.9% APY

  • ETH Covered Call

    • Premiums earned: 0.05 ETH (-76% MoM)

    • Historical performance (3 months): -11.6% APY

Solana Derivatives Exchange

In March, SDX was featured on Superteam’s Solana Ecosystem Call as a win of the month for surpassing $6m in cumulative volume. That number currently sits at [redacted]. 👀

In addition to that, we shipped “Pay with USDC” powered by Jupiter. With this feature, traders can buy any option listed with USDC, as well as with its underlying.

Lastly, we’re launching our market commentary and insights with Market Mondays. Interested in all things options? Drop your email on SDX.

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

Armada

We’re honored to kick off March by joining the first cohort of the Solana Incubator.

While still in the early stages of the program, we've set our sights on identifying our user base and highlighting how our offerings stand out from the competition.

Building on top of that, more than 7 teams are utilizing Armada’s staking infrastructure now, including GECKO and Flowmatic.

Lastly, we’re excited to announce the launch of the bSOL/VEUR managed vault on Armada. Operated by STS Digital, this partnership helps bring deeper liquidity to VEUR.

PSY Reloaded

PSY Reloaded Phase II is here. As a recap:

PSY Reloaded Phase II (PSY Stake):

  • 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.

More details to follow over the next few days.

Follow us on Twitter to keep up to date.

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

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