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PsyFi May 2023 Update

Unveiling PsyFi's Stellar Month: Top Google Ranking, Enhanced Vault Performance, and more!

AuthorAuthor

PsyFi & Nazri Nordin
June 01, 2023

Welcome to our monthly update where we share PsyFi’s latest news and progress. As we reflect on the past month, here’s a quick look into our treasury and vault performance, new tools and initiatives, and a glimpse into what's on the horizon.

DAO Treasury Growth and Vault Performance

Our treasury has witnessed healthy growth over the past six months, showing a consistent increase in value across all our major holdings - USDC, scnSOL, and SOL.

DAO Treasury: $2,606,358.8‬0 (+129%)

  1. USDC: 684,693.2289 USDC (+0.3%)

    • $684,693.23

  2. scnSOL: 151.1415303 scnSOL (+24.9%)

    • $3,498.91

  3. SOL: 63.13191254 SOL (+35.8%)

    • $1,307.50

Vault Performance: Monthly Overview

  • BTC Secured Put Vault

    • Total premiums earned: 1939.34 USDC

    • Projected vault returns: 4.24% APY

  • SOL Covered Call Vault

    • Total premiums earned: 21.63 SOL

    • Projected vault returns: 7.27% APY

  • scnSOL Covered Call Vault

    • Total premiums earned: 50.72 scnSOL

    • Projected vault returns: 6.12% APY

New Launches: PsyFi Mobile dApp and Backpack xNFT

In the realm of exciting developments, we're thrilled to announce that PsyFi is now live on:

  • Saga dApp Store

  • Backpack as an xNFT

$PSY Delegation Plan

In our ongoing commitment to fostering an inclusive, decentralized community where every voice counts, we're excited to introduce a new $PSY Delegation Plan. This initiative aims to:

  • Achieve diversification of the voting base and increase governance participation from a wider audience.

  • Provide a safe way for token holders to delegate their votes to community members.

  • Incentivize delegates to vote on every proposal and stay up-to-date with the protocol.

  • Enable token holders to revoke their delegates.

Introducing: The PsyFi View

In response to recent changes in our social engagement, we've embarked on a fresh strategy to expand our reach, not just within the Solana ecosystem, but beyond. This brings us to the launch of "The PsyFi View", a curated series of insightful Twitter threads that delve into trending topics in the wider crypto and DeFi space.

We believe that by offering concise, engaging, and timely content, we can attract and sustain a more diverse audience. Our goal with The PsyFi View is not just to increase impressions and engagement, but also to build a bridge between complex concepts and our readers.

Here are a few of our releases:

Crypto Options Pricing Calculator

Coming in at #1 on Google Search, our Crypto Options Pricing Calculator has seen a promising uptick in traffic and user engagement, signaling its immediate value to our community. Introduced just last month, this powerful tool supports over 100 assets, from BTC to SOL to GMX, making it an essential resource for crypto options traders.

Looking Ahead: What’s in store for June

As we continue to innovate and enhance our offerings, we're excited to preview some upcoming initiatives.

AssetDash: Firstly, we'll be teaming up with AssetDash for a giveaway – a great opportunity to participate and potentially win some exciting rewards. Keep your eyes peeled for the official announcement on our channels.

Trails: Secondly, we're in the process of getting listed on trails.fm, an invaluable educational platform that connects users with innovative projects. This listing will further extend our reach and enhance our user engagement.

Join Us in Shaping PsyFi's Future

As we continue to grow and innovate, we want to ensure that we're creating the best possible experience for you - our valued users and investors. With that in mind, we invite you to join us in shaping the future of PsyFi:

  1. Feedback on Tools: We've launched the PsyFi mobile dApp and Crypto Options Pricing Calculator, and your feedback is invaluable to us. If you've used either (or both!) of these tools, please take a few minutes to share your thoughts and experiences. Your insights can directly influence future iterations and improvements.

  2. Support on Trails: We're in the process of getting listed on trails.fm, a platform that helps users discover new projects. Once we're live, we'd love your support in making our debut a success. Please visit our page, leave a review, and share the link with your network. This will not only increase our visibility but also help potential users understand the value we offer through real experiences.

Here's to an exciting month ahead at PsyFi. As always, we thank you for your continued support and participation!

Cheers,
PsyFi