Topic: [ANN] PSI - psilabs.io AI/ML systematic trading utilty token (Read 92 times)

The Psi token pre-sale is live on Optimism L2 at https://psilabs.io, accepting USDC and USDT.

Storied co-founders Huw Rogers (Paxos, Fusion and Bloomberg) and Tony Ziman (Hedge Fund BFAM, Nomura, Lehman, Dresdner) are building a new FX, crypto and stocks trading platform to democratize high-speed systematic trading with AI/ML.

Psi Labs intend to become the pre-eminent armorer of the independent systematic trader.

Psi Labs are selling 40M Psi tokens to the public at an offer price of $0.05, raising $2M to crowdfund project development. The token will be valued at a minimum of $0.10 when used on the platform to run trading strategies - the ICO pre-sale is a 50% discount to this floor.

The Psi token is an Ethereum standard (ERC-20) token that serves as the primary medium of exchange within the Psi ecosystem. For the ICO it is initially deployed on the Ethereum layer 2 Optimism network at 0x77f3BC525Fc95Fc468d715fc63456EAa7E97bE04. Optimism L2 was selected for it's widespread accessibility, scalability and low cost. Psi Labs will subsequently bridge the token to multiple networks including Solana, Arbitrum and Ethereum layer 1.

Psi is a utility token - a digital pre-paid voucher for future services. Psi tokens are required to pre-pay for strategy run-time on the Psi Arena platform. They are also used to reward the authors of profitable trading strategies that receive allocations from other users.

(Sidebar: Psi is an ancient Greek letter pronounced “sai”. It connotes mathematics, physics, statistics and psychic abilities…)

Following the public launch of the platform, a benchmark rate for Psi will be maintained by Psi Labs. The benchmark rate will be re-calculated ("marked to market") every 24 hours as the DeFi market price or the ICO offer price, whichever is greater. When used within the Psi ecosystem, the Psi token will always be converted to/from USD at this benchmark rate.

200M tokens will initially be minted, and never any more. Due to buy-back & burn, the circulating supply of tokens will be reduced over time to a target of 100M, at which point buy-back & burn will cease. Reverse dilution of token holders is intended to induce capital appreciation, but there is no guarantee of this outcome.

Following the ICO, Psi Labs will not dilute token holders by selling additional tokens into the market until the minimum viable product (MVP) is complete, at which point the project will have significantly de-risked. A third round of public sales will occur at the time of the public launch.

A portion of ICO proceeds will be used to stake 𝚿/$ liquidity on decentralized exchanges immediately following the ICO. ICO details and the white paper at https://psilabs.io/ico.html