PsyOptions update: PSY Live price, price chart, news and markets

The PSY price update as of now is $0.0006200. In the previous 24 hours, its trading volume was $160, and its value has decreased by -14.72%. As of now, PSY's live market cap is $619,999, and it is ranked as the #6317 on the Coincu. PSY has a circulating supply of 999,998,377 and a maximum supply of 999,998,377.

The Role of Psilocybin: A Governance Token

Psilocybin (PSY) serves as a significant governance token in the management of smart contracts and the token treasury through on-chain voting. Through this token, users can propose and participate in voting on various initiatives within the ecosystem.

The PsyOptions protocol generates revenue from activities like minting and exercising, volume on permissioned Serum markets, as well as affiliate fees from the user interface integrated with Serum order books. These generated fees are then deposited into an address controlled by the governance protocol, granting PSY token holders the power to submit proposals and cast their votes.