We’re excited to announce that PsyFinance and Serum have teamed up to launch a SRM Covered Call Vault on PsyFinance’s new v2 vault architecture! Not only does the new vault give SRM holders an additional way to earn yield, it is also the second vault we’ve brought to market on Solana that allows anyone to bid on the vault’s weekly auctions alongside market makers.
What is it?
PsyFinance has launched a SRM Covered Call Vault that can be found on app.psyfi.io. Users can deposit their SRM and start generating 20%+ APY!
The strategy uses SRM Call Options that are minted on PsyOptions European options architecture weekly and (now with v2) sold to anyone who wants to buy them during our weekly auctions.
How to use it?
- Acquire $SRM through your preferred CEX or DEX.
- Go to app.psyfi.io and deposit your $SRM into the vault.
- ??? (The vault automates a Covered Call strategy)
- Profit
Why is it important?
With PsyFinance’s v2 vault architecture, the SRM vault will sell the weekly call options on Serum’s order books. 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. This is a huge step forward in democratizing access to financial products for all Solana users! Learn more about how to bid on the v2 vaults by viewing our docs here.
Site: https://app.psyfi.io
Twitter: https://twitter.com/PsyFinance
Discord: https://discord.gg/7F6y8Rz3fJ
