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Welcome to the Premia Wrap-Up — a monthly newsletter of owl things Premia.
The past week was spent remembering the various iterations of Premia over the years. Now, the time has come to look forward.
What’s next for Premia? Let’s take a look!
Let’s take a moment to reminisce…
Welcome friends, both new and old.
I want to begin by extending my gratitude to each and everyone of you for sticking with us throughout the years. Premia wouldn’t be where it is without all of you, and we appreciate the journey you’ve had with us.
We came from humble beginnings way back in 2021. There was a simple idea for a publicly available on-chain options exchange, something that simply didn’t exist at the time. So, a group of anon frens got together to build it!
Premia V1 Dashboard
The protocol born from the ideas and hard work of these anons became known as Premia v1. Throughout the years, Premia would go on to experience pivots, upgrades, and completely new iterations. However, our core mission of providing an open options exchange never changed.
Premia v3, our greatest hit yet, would go on to release over 3 years after the original product. This iteration of the protocol would feature a peer-to-peer quoting network interconnected with an AMM peer-to-pool model reminiscent of Premia v2.
Premia V3 Dashboard
However successful Premia v3 was with over 145mm in trading volume and over 70k unique sessions, we came to find clear shortcomings in our protocol design, most of which were actively voiced by our community.
There are markets for any ERC-20 with an oracle, but I can’t trade because there is no liquidity!
I don’t want to underwrite options because I need to lock up collateral. Why is there no portfolio margin?
What the heck are range orders? This is way too complicated to use!
It’s 2024. Why do I still have to sign multiple messages to make a single trade?
I really loved the simplicity and ease of Premia v2…
We heard your feedback loud and clear. On top of that, we ran into troubles with the protocol architecture when implementing portfolio margin — we would have to completely re-design our options engine.
As we were rebuilding our protocol from the ground-up, we understood nobody cared about range orders. So we threw them out as well. Range orders were unnecessarily complex for very little payoff, making them highly unattractive for the average user.
Now, let’s assess the rest of your feedback above, and talk about the features that the fourth iteration of Premia will bring.
Introducing Premia V4
Premia v4 will provide an interconnected crypto derivatives suite fully kitted with portfolio margin, multi-leg orders, and of course, the holy duo of perps and options.
Transaction bundling, smart accounts, and everything else you might’ve already found on the Archetype cross-chain swap aggregator will also be there on day 1 for Premia v4. It’s not just feature-complete, but also much easier to use!
Options remain at the core of Premia. V4 will bring forth multi-leg strategies, efficient order matching, and portfolio margin.
Additionally, we’re introducing perpetual futures to our suite, allowing for a multitude of strategies in tandem with options and PM.
Portfolio margin allows us to optimize capital efficiency by allowing positions across multiple assets to be collateralized in a single account. Options underwriting will be more viable with much more flexible collateral requirements, resulting in a more liquid exchange.
As we mentioned, 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, plus all the bells and whistles of account abstraction.
This also gives us a little something called transaction bundling. No longer will there be a need for multiple signatures for simple actions; even complex ones will now be condensed into a single approval!
Here’s a quick TL;DR:
Combo/Blocktrades
Perpetual Futures
European-style Options
Portfolio Margin
Deep Liquidity (really, much deeper than v3)
Smart Accounts
Chain-abstraction
What else can you ask for, Anon? Pay attention to the Premia X account to learn more!
Join the DeFi Options revolution with Premia, Anon!
The time for Premia Blue’s (and Archetype’s) conquest has finally come.
Give the platform a whirl — we’ve got strategy vaults, an orderbook, and options for any ERC-20 with a valid price oracle (and the best swap aggregator on Arbitrum with Archetype)!
Keep in mind, Anon, that
And with that, see you next time!
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