The Evolution of Premia

We’ve spent our year heads down, locked in, focused, and flourishing on the development of something new.

Before we unveil anything that the dev team will yell at me for, let’s take a look at how we got here.

Since its inception, Premia has been at the forefront of DeFi options. From the barebones functionality of Premia v1 to the upcoming release of Premia v4, we’ve continuously evolved to meet the needs of our growing user base.

Let’s take a walk down memory lane and explore Premia’s journey—how we started, where we are today, and how we’re shaping the future of DeFi with Premia v4.

Premia V1: Peer-to-peer Orderbook-based Options Exchange

In crypto terms, Premia v1 is now an ancient relic. When I say that, I’m not kidding — I couldn’t even find screenshots from the old v1 website.

Launched in early 2021 and deprecated later during the same year, it paved the way for the ideas that would later shape Premia’s product offering.

Premia V2: Peer-to-Pool AMM Options Exchange

Our mission was clear: provide seamless, decentralized options trading available 24/7.

In our early days, we recognized the need for simplicity and accessibility. At the time, DeFi was overly complex, especially to newcomers. Enter Premia v2—a breakthrough in decentralized options trading with its simplistic peer-to-pool model.

Premia v2’s peer-to-pool system allowed liquidity providers to pool assets, offering options buyers instant access to liquidity without the need for direct counterparties. This structure simplified options trading and drastically reduced friction, making DeFi options much more accessible to a wider audience. With low fees and intuitive design, Premia v2 attracted a diverse group of users—from newbies to seasoned traders.

Premia Blue (V3): Concentrated AMM/Orderbook Exchange With a Peer-to-peer Quoting Network

As the DeFi landscape matured, so did our users. Our community soon began asking for more advanced features, more granularity, and greater flexibility. In September 2023, we released Premia v3 to meet these demands and take our platform to the next level.

Premia v3 introduced a sophisticated orderbook & quoting system to cater to more advanced traders. This move allowed users to place and match orders at specific prices, offering a new level of control and precision in options trading. On top of that, we revamped our user interface to ensure that even the most complex features were easy to navigate.

While v2’s peer-to-pool model was perfect for those looking for simplicity, v3 gave users the ability to execute highly tailored strategies and opened the doors to more complex trading tactics.

Premia V4: Striking a Balance

After years of iterating on novel ideas, we came to realize we’re done with compromises.

We’ve shifted our focus from novel, decentralized options engines to striking the perfect balance between the user experience and on-chain functionality. Let’s take our first glimpse into Premia v4.

Finding the Perfect Balance Without Unnecessary Compromise

Poor user experience has been a pain point of DeFi since its inception.

To this day, performing a simple transaction can be time-consuming and complex, requiring multiple approvals. Though we’re already building on this premise with Archetype, Premia v4 is designed to take these ideas further, and offer the best of both worlds.

The full decentralization of a permissionless platform with the efficiency of a fully featured crypto exchange. Perps, Options, and Margin.

We want to elevate the trading experience to a whole new level. By blending on-chain functionality with a high-performance user interface, we’re setting a new standard for what DeFi can be — this time with a chain-abstracted suite of crypto derivatives.

The Premia V4 Featureset

The upcoming v4 release will introduce a host of new features designed to empower traders and maximize efficiency. Here’s a sneak peek into some of the key offerings:

1. Options: As always, options remain at the core of Premia. V4 will bring forth multi-leg strategies, more efficient order matching, and portfolio margin.

2. Perpetual Futures (Perps): We’re introducing perpetual contracts to our suite, allowing users to employ a multitude of trading strategies in tandem with margin and options.

3. Portfolio Margin: Traders will be able to leverage (pun intended) portfolio margin, which optimizes capital efficiency by allowing positions across multiple assets to be collateralized in a single account. Additionally, options underwriting will become more viable with much more flexible collateral requirements, resulting in a more liquid orderbook.

4. Smart Accounts: Similarly to Archetype, Premia v4 will feature smart accounts, enabling users to manage their trading and liquidity across multiple products through a single interface. This brings convenience and efficiency to managing complex portfolios.

5. Chain-Abstraction: Premia v4 introduces chain-abstraction, allowing users to interact with the protocol from any chain of their choice.

The Future of DeFi is Now

Premia’s journey has been one of constant innovation and user-centric development.

We were one of the first teams in 2021 to build a functional (albeit very barebones) on-chain options matching engine.

From the matching engine of v1, the success of our peer-to-pool model in v2, to the advanced orderbook and UI improvements of v3, we’ve always strived to offer the best decentralized options trading experience on the market.

With Premia v4, we’re excited to introduce a platform that combines the permissionless, transparent nature of DeFi with the high-performance, intuitive UX that users expect from traditional exchanges. As we continue to innovate and evolve, we stay committed to empowering users with the tools they need to trade efficiently and effectively.

The future of DeFi options trading is here—and we can’t wait to show you what’s next.

Join the future of DeFi with Premia and Archetype

Try out Archetype and get a taste of the DeFi UX of tomorrow!

Premia Blue is the first non-custodial options exchange with fully customizable options parameters and risk exposure.

Maximize capital efficiency, define your own risk, and optimize fees earned with Premia Blue on Arbitrum!

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