Psy League

Gamification of Psy Legends - Leadership and Vaults

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Inspiration

PsyOptions requires a robust Options and Vaults Leaderboard, which we believe is essential for the PsyOptions Dashboard and will surely be necessary to attract new users and enrol them into the ecosystem. As a team that has worked across various Blockchain Platforms, we are ecstatic to develop a solution for this, leveraging our backgrounds and the burgeoning derivatives markets on Solana.

What it does

Without a question, Psyoptions is one of the most formidable competitors in the options trading industry. On Solana, Psyoptions offers American-style options. SPL tokens are used to represent options, which means they may be traded on any DeX that accepts SPL tokens. Individuals receive two SPL tokens when they write an option.

  1. One represents a yield-generating option that you can sell.
  2. The other one represents a written contract that can be exchanged for the underlying asset after expiration. Psyoptions is the clearing and settlement layer for options on Solana.  Anyone can develop options for any SPL token for any time frame because there are no external requirements. This permits future protocols to include options in their code; in fact, top options protocols on Solana, such as Friction, Katana, and Chess Finance, are all built on top of Psyoptions.

The factors driving to participate in this hackathon is to look at futuristic view. Observed that current experience for users is more towards exploratory. While core team is focusing on improving capital efficiencies, reducing the cost working with underlying chains – we intend to look at experience architecture of the Psyoptions interface. Basically how solution composing on top of Psyoptions to bridge the gaps and make it actually more usable for users. PsyOptions needs a robust Leaderboard for Options and Vaults, which we believe is critical for the PsyOptions Dashboard and will undoubtedly be required to attract new users and enroll them into the ecosystem. We are thrilled to develop a solution for this, leveraging our backgrounds and the emerging derivatives markets on Solana, as a team that has worked across many Blockchain Platforms. Coming closer to developed solution – focus is on bringing next generation experience for options users. Solution has been crafted to support multiple ways of integration be Websocket , HTTP or leveraging native ways.

We can see the Psyoptions and PsyVaults leaderboards. Anyone, new or old, can view the scoreboard to keep track of and compete with others using the PsyOptions platform. Purpose is to bring gamification path for end users – these boards have been designed to attract new users to system so as they learn and follow these leaders to learn from their strategy. It brings healthy competition dimension to users to be part of Leadership board that gets refreshed on configured frequency based on Profit and Loss (P&L) We are introducing Psy rewards to members of board that will get accumulated like credit points. This is definitely unique way to bring stickiness for users irrespective of their positioning in leadership board. In addition – based on certain defined and configured benchmarks, users get Psy badges. Best aspect is how we envision to integrate badges with social media – that’s again unique IP of solution.

Leadership board has attributes –Rank#, User name, Psy Badge, ROI, PNL, Psy Rewards. These attributes as columns has functionality sort by each of these element. Solution has brought in newer ways of representing board through dynamic graphs with ease of use in experience architecture. These graphs are interactive to bring additional attributes on mouse hover on graphs. Similar to Leadership board for users – Solution has PsyVaults Leaderboard. Each of the record in PsyValut Leadership board has attributes – Rank, Name, PsyBadge, APY, Current Deposit, Current Week performance. Idea is to bring comparative view of multiple Vaults. In addition, shared functions like announcements and Settings. Settings brings features like light mode and dark mode. Allows to customize the screen elements. Best aspect is multi language support to bring cross country users to platform in seam less way. Knowledge is important element towards new bees that solution is putting at core to share the insights from exchanges, indices and more. Above maximum features have been designed with roadmap in mind to apply those for futures trading as well aligned to Psyoptions roadmap.

App is available with web based platform and for both android and ios app for options users for trading. App is bringing traditional finance (TradFI) feel to defi. Psyoptions is bringing order book on Solona and Serum. Our work is to have an elevated solution pitch to have state of the art options trading interface empowering users to be ready for Web 3.0

How we built it

Technology that is making this possible is through Outsystems – market leading low code platform to have newer capabilities released with much needed agility, speed to market.

Challenges we ran into

Several roadblocks arose during the platform's development. Because the technology we used was new, we ran across problems that were difficult to diagnose.

Accomplishments that we're proud of

We are excited to be a part of a changing world that is advancing technology to improve people's lives today and in the future.

What we learned

We gained a lot of knowledge about blockchain, as well as PsyOptions and PsyVaults. We see PsyOptions and PsyVaults Leaderboard as having the ability to enable them enroll many users on the platform and grow in the future by integrating different blockchains and allowing them to trade without restrictions.

What's next for Psy League

We intend to develop smart voice based ecosystem to bring this as reality for non tech users as well through devices like Alexa and Google Home

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