Premia (V4) in February

Kyan is coming.

Author

Linda
March 03, 2025

premia-v4-wrap-up-february

Welcome to the Premia Wrap-Up — a monthly newsletter of owl things Premia.

Everything we’ve been up to since the beginning of the year, what we’re working on right now and what you can expect in the coming months.

What’s next for Premia? Let’s take a look!

Welcome back friends, long time no see!

These last few months have been intense — both in the trenches, and here behind the scenes. Let’s get into it, anon.

If you’ve been following the Premia blog or our socials, it will come as no surprise that we’ve been pouring all our efforts into developing the ultimate options and perps exchange.

Kyan (Premia V4) combines speed, transparency, and intitutional-grade trading features to bring advanced traders the infrastructure and experience they deserve.

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We’re not talking about a simple upgrade to the current V3. Kyan aims to redefine decentralized derivatives trading by delivering the tools and efficiency on par with CEXs, and the onchain transparency of DEXs.

Thanks to portfolio margin, Kyan unlocks new opportunities for leverage, hedging, strategy execution, and underwriting. Portfolio margin combines the risk of all positions within a portfolio to significantly reduce collateral requirements, improve capital efficiency, increase liquidity, and more.

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Butterfly Spread on Portfolio Margin

How will it work in practice? Kyan introduces a sub-account system where every sub-account acts like an independent wallet on Kyan, and has its own BTC portfolio, ETH portfolio, and ARB portfolio. The risk is calculated for each of these portfolios separately, meaning that the positions in different portfolios and in different sub-accounts don’t affect each other. A user can create an unlimited number of sub-accounts using just one self-custodial wallet (e.g., MetaMask).

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Sub-account System on Kyan

A quick reminder on what to expect from Kyan on day 1:

  • Portfolio margin

  • Options (European-style)

  • Perps

  • Combo trades

  • CEX-like orderbook

  • Smart accounts

  • Chain abstraction

Other features, including isolated margin, are on our post-launch roadmap. We’re just getting started.

Make sure to follow Premia on X to stay up-to-date on Kyan’s development. We’re hosting monthly Community Calls about Kyan’s features leading up to the launch. See you there!

TL;DR: 

Are you ready, anon? Kyan is coming.

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Join the Crypto Options Revolution with Kyan (Premia V4)!

If you have any questions about Kyan or portfolio margin, join our Discord or shoot us a message on X. We would love to know your thoughts!

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