Options · Review
ActivePsyOptions Review 2026: Solana BTC and ETH Options
PsyOptions is a Solana protocol for American-style, asset-settled BTC and ETH options. Its options use on-chain tokens, but current access, contract details, and fees are unclear.
By the DappsAtlas editorial team · Updated
DappsAtlas score
5.0/10
Mixed
Our verdict on PsyOptions
5.0/10PsyOptions may suit experienced Solana users looking for on-chain options exposure to BTC or ETH. Its main appeal is a defined product scope: American-style, asset-settled options represented as Solana tokens. The main caveat is how much practical information remains unclear, including current access, fees, expiry and exercise terms, and settlement details. Two audits are listed, but their scope is not stated. Check the live contract terms carefully before committing assets.
Score breakdown
How PsyOptions scores
- Security
- 4.0/10
- Ease of use
- 4.5/10
- Fees
- n/a
- Features
- 6.0/10
Scores run from 0 to 10 and are based only on facts we could verify. Where information was missing we mark the score n/a rather than guess.
What is PsyOptions?
PsyOptions is a Solana-based protocol for trading American-style, asset-settled options on BTC and ETH. Its options are described as SPL tokens, representing contracts on-chain rather than conventional exchange-listed options.
The protocol’s stated scope is straightforward, but key practical details are not published here: the current trading interface, contract specifications, fees, and settlement process. Two audits are listed, though their scope and dates are not stated.
How PsyOptions works
PsyOptions is described as an on-chain options protocol on Solana for BTC and ETH. An option gives its holder a right, but not an obligation, to buy or sell an underlying asset at a specified strike price under the contract’s terms. American-style options generally may be exercised before expiry, although PsyOptions’ specific expiry and exercise rules are not published here.
The options are described as asset-settled and represented as SPL tokens. A tokenized contract can be held and transferred on Solana, while settlement depends on the contract rules and required assets. The precise settlement process, available expiries, and order interface are not stated, so users should verify these details before trading.
4 features
Key features
01
BTC and ETH options
The protocol describes options on BTC and ETH, though it does not publish contract specifications here.
02
American-style contracts
American-style options generally allow exercise before expiry; PsyOptions’ specific exercise terms are not stated.
03
Asset settlement
The options are described as asset-settled, but the exact settlement assets and process are not specified.
04
Tokenized options
One project description says options are represented as SPL tokens, the token standard used on Solana.
Pros and cons
What we like
- Targets BTC and ETH options on Solana.
- American-style contracts generally offer the possibility of exercise before expiry.
- Options are described as asset-settled and represented as SPL tokens.
- Two audits are listed, although their details are not stated.
Watch out for
- The protocol’s current interface and availability are unclear.
- Fees, expiry choices, and contract specifications are not published here.
- Two audits are listed, but their auditors, dates, and scope are not stated.
- Options can expire worthless, and asset-settled contracts carry market and smart-contract risks.
PsyOptions fees
PsyOptions’ trading and protocol fees are not published here. Check the current interface and contract terms before placing an order; Solana network fees may also apply.
Is PsyOptions safe?
Two audits are listed for PsyOptions, but their auditors, dates, and scope are not stated. That listing alone does not establish that every contract or later change has been reviewed. On-chain options carry smart-contract risk as well as market risk; buyers may lose the amount paid if an option expires worthless, and settlement depends on contract rules.
The custody model, team details, and regulatory status are not published here. Verify the current interface and contract terms before connecting a wallet or trading.
5 steps
How to get started with PsyOptions
- 1
Confirm that PsyOptions is currently accessible and identify its official interface before connecting a wallet.
- 2
Use a Solana-compatible wallet and make sure it holds the assets required for the selected contract and any network fees.
- 3
Review the option’s underlying asset, expiry, strike, exercise rules, and settlement terms before trading.
- 4
Check the quoted price and all applicable fees, then decide whether the potential loss fits your risk tolerance.
- 5
After trading, monitor the contract and understand how exercise, expiry, or settlement is handled.
Who PsyOptions is for
PsyOptions is best suited to users who already understand options, Solana wallets, and the possibility of losing the value committed to a trade. It is less suitable for newcomers seeking clearly published contract terms, fees, or a straightforward trading interface.
PsyOptions FAQs
What is PsyOptions?
PsyOptions is an options protocol on Solana. Its described products are American-style, asset-settled options on BTC and ETH.
How do PsyOptions options work?
The protocol is described as using American-style options, which generally can be exercised before expiry. The exact expiry schedule and exercise rules for PsyOptions contracts are not published here.
Which assets can I trade on PsyOptions?
PsyOptions is built on Solana. The available product description names BTC and ETH options, but does not specify the exact tokens used for settlement.
What is the PSY token used for?
PSY is the project’s named token. Its current utility and any role in using or governing the options protocol are not established here.
What fees does PsyOptions charge?
Fees are not published here. Check the protocol’s current interface and contract terms before trading, and account for any Solana network fees.
Is PsyOptions safe?
Two audits are listed, but their details and scope are not stated. Options can lose value or expire worthless, and users also face smart-contract and settlement risks.
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How we checked
Sources
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