With PsyFinance V2, American-style options will be replaced with European-style options to improve capital efficiency and transparency.
A Major Revamp
PsyOptions released PsyFinance V2, bringing improvements to the protocol’s user interface that enhance capital efficiency and transparency.
According to an exclusive from PsyOptions, the major change in PsyFinance V2 is the transition from American-style options to European-style options that will improve capital efficiency, resulting in a higher premium earned by users.
“PsyFi V2 is launching with a slew of new features aimed at boosting value and increasing transparency for crypto structured products,” Ata, Product Lead at PsyFinance, told Web3Wire.
The other improvements are as follows:
Vault Auctions: Using the PsyOptions x Serum order book, anyone can bid on weekly options alongside market makers. PsyOptions recently introduced USDC bidding, which ensures that users only need to hold one asset (USDC) to bid on single or multiple auctions.
User Experience: With PsyFinance V2, users can initialize, deposit, and withdraw a receipt in a single transaction. Additionally, one can exchange the receipt next epoch automatically by the program saving time and money. V2 also allows you to cancel pending withdrawals and deposits.
Fee Structure: A 10% performance fee and a 0.1% withdrawal fee will be added to all v2 vaults to support the protocol’s continuous development.
There has also been a major UI upgrade for PsyFinance:
A Landing Page
A TVL and Premiums Earned trackers
A Risk Assessment Page
On-site user support
Learn more about the recent updates from PsyFinance here.
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 |
Source : web3wire.news
