Hi,

PSY, the first LSD-backed stablecoin on Arbitrum, will transition from the testnet in the coming days. Today, we are announcing that we have partnered with Frax Finance and Ramses as launch partners. In this article, we'll delve into why we selected them as our launch partners and discuss our future plans with them.

TL;DR of the collaboration

• $sfrxETH will initially be used as collateral on PSY, which is currently the only platform accepting $sfrxETH as collateral.

• PSY will establish a $FRAX/$SLSD pool on Ramses.

• Frax will incentivize voters on Ramses for that pool.

PSY

But first, let’s introduce ourselves. PSY is the first LSD-backed stablecoin on Arbitrum. It offers you an opportunity 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 as outlined below.

• Liquid Staking Tokens ex) sfrxETH, wstETH, rETH

• LP token for LST pair ex) frxETH/ETH, wstETH-ETH LP tokens on Ramses

• LSDFi LP ex) Pendle, unshETH

Partnership details

• $sfrxETH token will initially be used as collateral on PSY, which is currently the only platform accepting $sfrxETH as collateral.

• PSY will establish a $FRAX/$SLSD pool on Ramses.

• Frax will incentivize voters on Ramses for that pool.

Benefits of the partnership

• Frax will achieve:

  Through this partnership, Frax is able to expand the ecosystem. Its stablecoin, $FRAX, will have further liquidity with a new stablecoin $SLSD on Ramses. Its LST token, $frxETH, will have another utility in the DeFi space, as the collateral to mint $SLSD on PSY. Additionally, PSY is the first protocol to support $sfrxETH as collateral.

• What Ramses will achieve:

  Through this partnership, Ramses can attract further liquidity to its own DEX pools. New pair of tokens with a new bribe inflow will bring new users and liquidity to the Ramses ecosystem. Moreover, in the future roadmap, DEX’s LP token will be the collateral to mint $SLSD on PSY.

• What PSY will achieve:

  Through this partnership, PSY can attract liquidity to the pool of its stablecoin, $SLSD, on Ramses. By pairing with a leading stablecoin $FRAX and establishing a deep liquidity pool on Ramses, PSY aims to position $SLSD as one of the most widely used stablecoins in the DeFi ecosystem.

• What User will get:

  With this partnership, users can enjoy trading $SLSD with low slippage, Minting $SLSD with $sfrxETH, and earning rewards through LP farming and bribes on Ramses.

Lastly…

• After the governance token generation, we are planing to distribute PSY reward to $PSY/$WETH pool on Ramses. So users can receive double reward by $RAM and $PSY.

• We will accept the LP token of LST pairs such as $frxETH/$WETH pair on Ramses as collateral, enabling users to earn LST inflows, farming rewards, and trading fee at the same time.

• PSY is proud to be the first protocol accepting $sfrxETH as collateral, thus establishing itself as the leading LSD-backed stablecoin protocol in both the Arbitrum and Frax ecosystems.

About Frax Finance

Frax is the largest fractional-algorithmic stablecoin, Frax’s liquid staking token, sfrxETH circulation is the second largest next to $stETH(Lido) on Arbitrum.

About Ramses

Ramses is a major DEX on Arbitrum. $sfrxETH/$ETH pool on Ramses is superior to that on Uniswap v3 and other Dexes in terms of TVL and Trading volume.

About PSY

PSY is the first LSD-backed stablecoin on Arbitrum. It offers you an opportunity 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.