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 ...
PSY is a stablecoin that will enable high leverage and stable utilities with highly scalable LSD collaterals.
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Today, we are thrilled to announce that PSY, a decentralized lending protocol with LSD-backed stablecoin, is now live on Arbitrum Mainnet.
Users can mint $SLSD by collateralizing $sfrxETH at the PSY launch.
We launch PSY to deliver a decentralized stablecoin, $SLSD, with great scalability by creating a more capital-efficient and user-friendly way to borrow stablecoin, based on multi Liquid Staking Derivatives(LSD) collaterals.
It allows you 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.
PSY's code base is built upon the foundation of Liquity, which is battle tested and known for its efficiency and innovation. PSY will inherit these parts and expand its boundary by collateralizing innovative LSD assets.
You can mint $SLSD by collateralizing $sfrxETH with a user-friendly interface.
Enter the Collateral and Net Debt you want to borrow. After that, the system will calculate your Liquidation price.
In the next step, select Approve and Open Trove.
You must borrow at least 2,000 $SLSD.
You are not allowed to open a Trove with a Collateral Ratio lower than 110%. In recovery mode, a Collateral Ratio of 150% is required.
You can’t redeem $sfrxETH within 14 days after its launch for product safety.
The Stability Pool maintains system solvency, providing liquidity for debt repayment from liquidated Troves and ensuring full SLSD backing. Liquidated Troves result in burned SLSD, repaying the debt and obtaining the entire collateral.
Stability Providers benefit from Trove liquidations near the 110% collateral ratio, yielding higher collateral value than repaid debt.
As we announced in the previous article (**Frax Finance and Ramses become launch partners) **PSY will establish a $FRAX/$SLSD pool on Ramses.
After minting $SLSD, users can provide liquidity and earn LP farming rewards from Ramses, which is boosted by a bribe from Frax.
At PSY, security is of utmost importance. Our smart contracts have undergone a thorough audit by WatchPug.
https://github.com/psystablecoin/psy-contract/blob/main/audit/PSY_Audit_Report_by_WatchPug.pdf
After the product launch, our next milestone is IDO in Q3, followed by an implementation o the multi-collateral module, other LST, and its LP tokens on DEXes, for the benefit of our users.
Moving on to Q4 this year, we aim to deploy the leverage module and explore opportunities to enhance $SLSD utility through protocol collaboration.
In the following year, our focus will be on exploring the LSD strategy and expanding our ecosystem to deliver a universal LSD collateralized stablecoin.
PSY 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.
https://twitter.com/PSY_stablecoin
Today, we are thrilled to announce that PSY, a decentralized lending protocol with LSD-backed stablecoin, is now live on Arbitrum Mainnet.
Users can mint $SLSD by collateralizing $sfrxETH at the PSY launch.
We launch PSY to deliver a decentralized stablecoin, $SLSD, with great scalability by creating a more capital-efficient and user-friendly way to borrow stablecoin, based on multi Liquid Staking Derivatives(LSD) collaterals.
It allows you 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.
PSY's code base is built upon the foundation of Liquity, which is battle tested and known for its efficiency and innovation. PSY will inherit these parts and expand its boundary by collateralizing innovative LSD assets.
You can mint $SLSD by collateralizing $sfrxETH with a user-friendly interface.
Enter the Collateral and Net Debt you want to borrow. After that, the system will calculate your Liquidation price.
In the next step, select Approve and Open Trove.
You must borrow at least 2,000 $SLSD.
You are not allowed to open a Trove with a Collateral Ratio lower than 110%. In recovery mode, a Collateral Ratio of 150% is required.
You can’t redeem $sfrxETH within 14 days after its launch for product safety.
The Stability Pool maintains system solvency, providing liquidity for debt repayment from liquidated Troves and ensuring full SLSD backing. Liquidated Troves result in burned SLSD, repaying the debt and obtaining the entire collateral.
Stability Providers benefit from Trove liquidations near the 110% collateral ratio, yielding higher collateral value than repaid debt.
As we announced in the previous article (**Frax Finance and Ramses become launch partners) **PSY will establish a $FRAX/$SLSD pool on Ramses.
After minting $SLSD, users can provide liquidity and earn LP farming rewards from Ramses, which is boosted by a bribe from Frax.
At PSY, security is of utmost importance. Our smart contracts have undergone a thorough audit by WatchPug.
https://github.com/psystablecoin/psy-contract/blob/main/audit/PSY_Audit_Report_by_WatchPug.pdf
After the product launch, our next milestone is IDO in Q3, followed by an implementation o the multi-collateral module, other LST, and its LP tokens on DEXes, for the benefit of our users.
Moving on to Q4 this year, we aim to deploy the leverage module and explore opportunities to enhance $SLSD utility through protocol collaboration.
In the following year, our focus will be on exploring the LSD strategy and expanding our ecosystem to deliver a universal LSD collateralized stablecoin.
PSY 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.
https://twitter.com/PSY_stablecoin
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