PsyFinance Announces the Serum Vault

By Soumen DattaDeFi

PsyOptions uses European options architecture to offer SRM Call Options, which are auctioned every week.

PsyFinance X Serum: $SRM Covered Call Vault

In partnership with Serum, PsyFinance has launched a SRM Covered Call Vault on the v2 vault architecture from PsyFinance.

PsyOptions, the on-chain options platform from PsyFinance, announced the update with a tweet and an accompanying article on April 4. The announcement states that the vault gives SRM holders an additional way to earn 20%+ APY and allows anyone to bid in weekly auctions on Serum’s order books along with market makers.  

“That means anyone who is interested in purchasing SRM call options can bid on them each week alongside the existing market makers, creating yield for the vaults.” Stockmart, Growth Lead at Psyoptions, explains in an article. “This is a huge step forward in democratizing access to financial products for all Solana users.”


With PsyOptions European options architecture, SRM Call Options are minted weekly and sold to anyone during their weekly auctions.

Steps to use the SRM Covered Call Vault:

1. Buy $SRM through your preferred CEX or DEX.

2. You can deposit your $SRM in the vault here.

3. The vault automates a Covered Call strategy.

4. It’s time to earn a profit.

“We plan on transitioning our current v1 Vaults to the new v2 model over the coming weeks,”. Stockmart told Web3 Wire about Psyoptions’ plans. “Additionally, we have a few tokens in mind for new Covered Call Vaults, primarily FTT and MNGO.”

With the partnership with Socean Finance, PsyFinance took the first step towards V2 on March 16, 2022. One of the major highlights of this move is their transition from American-style options to European-style options. According to Spencer Farrar, the lead strategist at Psyfinance, European-style options are in high demand, and it offers better capital efficiency.

What is PsyFinance?‍

Previously known as Tap Finance, PsyFinance is a Solana-based suite of option strategy vaults designed to generate sustainable yield for single token assets for its users. The protocol aims to create the best non-inflationary yields in the Solana Ecosystem. There are currently eight vaults in the protocol’s product suite with an annual percentage yield (APY) ranging from 12% to over 20%.

Find more about PsyFinance here:

Website | Twitter | Documentation | Discord |

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