PsyFi reinvents community owned financial primitives and is building a basket of financial tools and products allowing users to execute their custom strategies including muitl-strategy option vaults and lending markets. To learn more about PsyFi, check out docs.psyoptions.io.
PsyFi provides a stSOL-collateralized SOL covered call vaults in which stSOL holders could deposit the token to earn extra yields in stSOL while still receving staking rewards.
Getting Started
Before starting, please note that you will need stSOL. To get stSOL, head to solana.lido.fi and stake your SOL tokens.
To get started with the PsyFi covered call strategy, follow the steps below:
Head to psyfi.io/vaults/stsol-call/deposit and connect your wallet.
Choose the amount you would like to deposit, and then press 'Deposit stSOL'.
Approve the transaction using your wallet.
After the confirmation, you will see your pending deposit position. The newly deposited token will remain pending until the options are minted.
Volia - after the activating period, you will see your option position and the reward is autocompounding regularly.
Withdrawing stSOL from PsyFi option vault
To withdraw your stSOL from the vault,
Head to psyfi.io/vaults/stsol-call/withdraw and connect your wallet.
Choose the amount you would like to withdraw, and then press 'Withdraw stSOL'.
Approve the transaction using your wallet.
