PSYIntroducing PSY
IntroductionPSY is a community-driven, decentralized lending protocol designed to enable interest-free loans in a stablecoin - SLSD - by collateralizing multiple LSDs (Liquid Staking Tokens and their LP tokens). The protocol is set to be launched on Arbitrum. This article endeavors to provide a clearer understanding of PSY and its stablecoin, SLSD.Why LSD-backed stablecoin?We need decentralized stablecoinStablecoins serve as the foundation of the entire DeFi ecosystem. Nonetheless, a signific...
PSYLiquid staking derivatives market overview
IntroductionPSY is a community-driven, decentralized lending protocol designed to enable interest-free loans in a stablecoin - SLSD - by collateralizing multiple LSDs (Liquid Staking Tokens and their LP tokens). The protocol is set to be launched on Arbitrum. This article endeavors to provide a clearer understanding of the entire Liquid staking derivatives market.LSD (Liquid Staking Derivatives):Liquid staking derivatives (LSD) is one of the recent trends in DeFi. Typically, staking involves ...
PSY is a stablecoin that will enable high leverage and stable utilities with highly scalable LSD collaterals.
PSYIntroducing PSY
IntroductionPSY is a community-driven, decentralized lending protocol designed to enable interest-free loans in a stablecoin - SLSD - by collateralizing multiple LSDs (Liquid Staking Tokens and their LP tokens). The protocol is set to be launched on Arbitrum. This article endeavors to provide a clearer understanding of PSY and its stablecoin, SLSD.Why LSD-backed stablecoin?We need decentralized stablecoinStablecoins serve as the foundation of the entire DeFi ecosystem. Nonetheless, a signific...
PSYLiquid staking derivatives market overview
IntroductionPSY is a community-driven, decentralized lending protocol designed to enable interest-free loans in a stablecoin - SLSD - by collateralizing multiple LSDs (Liquid Staking Tokens and their LP tokens). The protocol is set to be launched on Arbitrum. This article endeavors to provide a clearer understanding of the entire Liquid staking derivatives market.LSD (Liquid Staking Derivatives):Liquid staking derivatives (LSD) is one of the recent trends in DeFi. Typically, staking involves ...
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PSY is a stablecoin that will enable high leverage and stable utilities with highly scalable LSD collaterals.
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Hi,
PSY, the first LSD-backed stablecoin on Arbitrum, will transition from the testnet in the coming days. Today, we are announcing that we have partnered with Frax Finance and Ramses as launch partners. In this article, we'll delve into why we selected them as our launch partners and discuss our future plans with them.
$sfrxETH will initially be used as collateral on PSY, which is currently the only platform accepting $sfrxETH as collateral.
PSY will establish a $FRAX/$SLSD pool on Ramses.
Frax will incentivize voters on Ramses for that pool.
But first, let’s introduce ourselves. PSY is the first LSD-backed stablecoin on Arbitrum. It offers you an opportunity to leverage your LST rewards and farming rewards on DEXes or LSDFi protocols up to 11x by borrowing in the most capital-efficient and cost-effective way, using your LSD position as outlined below.
Liquid Staking Tokens ex) sfrxETH, wstETH, rETH
LP token for LST pair ex) frxETH/ETH, wstETH-ETH LP tokens on Ramses
LSDFi LP ex) Pendle, unshETH
$sfrxETH token will initially be used as collateral on PSY, which is currently the only platform accepting $sfrxETH as collateral.
PSY will establish a $FRAX/$SLSD pool on Ramses.
Frax will incentivize voters on Ramses for that pool.
Frax will achieve:
Through this partnership, Frax is able to expand the ecosystem. Its stablecoin, $FRAX, will have further liquidity with a new stablecoin $SLSD on Ramses. Its LST token, $frxETH, will have another utility in the DeFi space, as the collateral to mint $SLSD on PSY. Additionally, PSY is the first protocol to support $sfrxETH as collateral.
What Ramses will achieve:
Through this partnership, Ramses can attract further liquidity to its own DEX pools. New pair of tokens with a new bribe inflow will bring new users and liquidity to the Ramses ecosystem. Moreover, in the future roadmap, DEX’s LP token will be the collateral to mint $SLSD on PSY.
What PSY will achieve:
Through this partnership, PSY can attract liquidity to the pool of its stablecoin, $SLSD, on Ramses. By pairing with a leading stablecoin $FRAX and establishing a deep liquidity pool on Ramses, PSY aims to position $SLSD as one of the most widely used stablecoins in the DeFi ecosystem.
What User will get:
With this partnership, users can enjoy trading $SLSD with low slippage, Minting $SLSD with $sfrxETH, and earning rewards through LP farming and bribes on Ramses.
After the governance token generation, we are planing to distribute PSY reward to $PSY/$WETH pool on Ramses. So users can receive double reward by $RAM and $PSY.
We will accept the LP token of LST pairs such as $frxETH/$WETH pair on Ramses as collateral, enabling users to earn LST inflows, farming rewards, and trading fee at the same time.
PSY is proud to be the first protocol accepting $sfrxETH as collateral, thus establishing itself as the leading LSD-backed stablecoin protocol in both the Arbitrum and Frax ecosystems.
Frax is the largest fractional-algorithmic stablecoin, Frax’s liquid staking token, sfrxETH circulation is the second largest next to $stETH(Lido) on Arbitrum.
https://twitter.com/fraxfinance
Ramses is a major DEX on Arbitrum. $sfrxETH/$ETH pool on Ramses is superior to that on Uniswap v3 and other Dexes in terms of TVL and Trading volume.
https://twitter.com/RamsesExchange
PSY is the first LSD-backed stablecoin on Arbitrum. It offers you an opportunity to leverage your LST rewards and farming rewards on DEXes or LSDFi protocols up to 11x by borrowing in the most capital-efficient and cost-effective way, using your LSD position.
Hi,
PSY, the first LSD-backed stablecoin on Arbitrum, will transition from the testnet in the coming days. Today, we are announcing that we have partnered with Frax Finance and Ramses as launch partners. In this article, we'll delve into why we selected them as our launch partners and discuss our future plans with them.
$sfrxETH will initially be used as collateral on PSY, which is currently the only platform accepting $sfrxETH as collateral.
PSY will establish a $FRAX/$SLSD pool on Ramses.
Frax will incentivize voters on Ramses for that pool.
But first, let’s introduce ourselves. PSY is the first LSD-backed stablecoin on Arbitrum. It offers you an opportunity to leverage your LST rewards and farming rewards on DEXes or LSDFi protocols up to 11x by borrowing in the most capital-efficient and cost-effective way, using your LSD position as outlined below.
Liquid Staking Tokens ex) sfrxETH, wstETH, rETH
LP token for LST pair ex) frxETH/ETH, wstETH-ETH LP tokens on Ramses
LSDFi LP ex) Pendle, unshETH
$sfrxETH token will initially be used as collateral on PSY, which is currently the only platform accepting $sfrxETH as collateral.
PSY will establish a $FRAX/$SLSD pool on Ramses.
Frax will incentivize voters on Ramses for that pool.
Frax will achieve:
Through this partnership, Frax is able to expand the ecosystem. Its stablecoin, $FRAX, will have further liquidity with a new stablecoin $SLSD on Ramses. Its LST token, $frxETH, will have another utility in the DeFi space, as the collateral to mint $SLSD on PSY. Additionally, PSY is the first protocol to support $sfrxETH as collateral.
What Ramses will achieve:
Through this partnership, Ramses can attract further liquidity to its own DEX pools. New pair of tokens with a new bribe inflow will bring new users and liquidity to the Ramses ecosystem. Moreover, in the future roadmap, DEX’s LP token will be the collateral to mint $SLSD on PSY.
What PSY will achieve:
Through this partnership, PSY can attract liquidity to the pool of its stablecoin, $SLSD, on Ramses. By pairing with a leading stablecoin $FRAX and establishing a deep liquidity pool on Ramses, PSY aims to position $SLSD as one of the most widely used stablecoins in the DeFi ecosystem.
What User will get:
With this partnership, users can enjoy trading $SLSD with low slippage, Minting $SLSD with $sfrxETH, and earning rewards through LP farming and bribes on Ramses.
After the governance token generation, we are planing to distribute PSY reward to $PSY/$WETH pool on Ramses. So users can receive double reward by $RAM and $PSY.
We will accept the LP token of LST pairs such as $frxETH/$WETH pair on Ramses as collateral, enabling users to earn LST inflows, farming rewards, and trading fee at the same time.
PSY is proud to be the first protocol accepting $sfrxETH as collateral, thus establishing itself as the leading LSD-backed stablecoin protocol in both the Arbitrum and Frax ecosystems.
Frax is the largest fractional-algorithmic stablecoin, Frax’s liquid staking token, sfrxETH circulation is the second largest next to $stETH(Lido) on Arbitrum.
https://twitter.com/fraxfinance
Ramses is a major DEX on Arbitrum. $sfrxETH/$ETH pool on Ramses is superior to that on Uniswap v3 and other Dexes in terms of TVL and Trading volume.
https://twitter.com/RamsesExchange
PSY is the first LSD-backed stablecoin on Arbitrum. It offers you an opportunity to leverage your LST rewards and farming rewards on DEXes or LSDFi protocols up to 11x by borrowing in the most capital-efficient and cost-effective way, using your LSD position.
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