Psyoptions | Powered by Wormhole

Wormhole
3 min readFeb 16, 2023

We are proud to announce that Psyoptions, a leading digital asset trading platform, is integrating Wormhole. This integration will allow for seamless xChain deposits and trading on the Psyoptions platform, further enhancing the platform’s utility and accessibility.

1. What is Psyoptions?

Psyoptions is an options protocol built on the Solana blockchain. By creating a decentralized, permission-less and community-owned financial services platform, PsyOptions aims to give DeFi a TradFi vibe. Their goal is to establish themselves as the de facto on-chain financial services platform for DeFi users around the world, in addition to offering their users a decentralized options trading platform.

2. What does the integration offer?

Psyoptions is committed to providing its users with the most advanced and secure trading experience. The integration of Wormhole opens up a world of possibilities for users, allowing them to easily access a wider range of assets and trade across different chains.

This is where Wormhole comes in. It’s a secure and efficient solution for sending messages (like token transfers) to and from different chains, allowing Psyoptions users to deposit and trade assets xChain with ease.

3. Why Psyoptions?

With its robust infrastructure and user-friendly interface, Psyoptions has made it easier than ever for individuals to participate in options trading on Solana. By integrating with Wormhole, Psyoptions is further improving its offerings and providing users with access to the most innovative xChain solutions on the market. We can’t wait to see what impact this integration will have on the future of options trading (Solana and xChain in general). We will keep you updated on all the exciting developments to come.

4. More from Psyoptions

Here’s how you can get in touch with Psyoptions:

Website | Twitter | Discord | Docs | Forum | Github

5. Wormhole Noob? No problem!

If you’re new to Wormhole, here’s what you need to know:

Wormhole is an interoperability protocol that allows projects to build on top of its generic message-passing layer. It connects to multiple chains, including Ethereum, Solana, Binance Smart Chain, Polygon, Avalanche, Algorand, Fantom, Karura, Celo, Acala, Aptos and Arbitrum. Wormhole does this by emitting messages from one chain to another, which are observed and verified by a Guardian network of nodes. After verification, this message is submitted to the target chain for processing. This simple message-passing primitive enables xChain functionality. Users interact with xDapps (xChain decentralized applications) to transfer xAssets (cross-chain assets) between networks or access their xData (xChain data) to provide them services on their current network.

Some stats:

20+ chains on six runtimes
⚬ The protocol’s total volume stands at over $35B
Hundreds of millions of messages have successfully been transmitted
⚬ Currently, millions of messages are submitted each day
⚬ More than 60 protocols are building on top of Wormhole’s generic message-passing layer

Check out Chase M., a Wormhole contributor, explaining more about Wormhole below:

6. Wormhole’s supported networks

Applications built with Wormhole allow users to send assets to and from any of the 20+ supported chains without double-wrapping the asset. It enables seamless access to each network’s vibrant DeFi and NFT ecosystems!

Check out the Portal bridge to see which chains you can bridge to!

7. Join the ever-growing Wormhole community

If you have questions, need support or want to connect, join the Wormhole community and keep up-to-date with our upcoming announcements. We’re always happy to hear your feedback. Join our Discord, and drop us a comment!

Twitter | Discord | Medium | Telegram | Website

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Wormhole

Wormhole is the leading interoperability platform powering multichain applications and bridges at scale. Build Multichain: http://wormhole.com