Premia now on Binance Smart Chain
Options for all
Today the Premian Republic is happy to announce the unveiling of our options marketplace on BSC!
What does this mean?
The Premia marketplace is now available, not only on the Ethereum network with support for ERC20 tokens, but also Binance’s smart contract network, known as BSC, supporting BEP20 assets. That’s right, the Premia marketplace is available on both!
At launch, the following assets will be supported on BSC:
- L1 Chains: ETH, DOT, ADA, EOS, XRP, WBNB
- Defi Blue Chips: LINK, YFI, UNI
- BSC Natives: BTCB, CAKE, BUNNY, AUTOv2, VENUS
- LINK Competitors: BAND
Premia token on BSC
As you may have noticed from the supported token list above, Premia the token will not be immediately available on BSC. A bridge solution is in the works and should be available to Premia holders in the coming weeks.
Once this bridging solution has been released, full cross-chain support will be available to PREMIA holders and platform users.
Why the move to BSC?
There are quite a few reasons Premia has decided to launch a marketplace with BEP20 support which we’ll dive into below.
Asset support
For one, there are a plethora of layer 1 assets with liquidity available on BSC which are not currently available on the Ethereum network. Some of these assets include EOS, DOT, ADA on top of the ever-growing list of popular tokens native to BSC, like BUNNY, CAKE, & VENUS.
Fee subsidies
Aside from a deeper selection of assets, the rising gas fees on the Ethereum network have shifted a large amount of economic activity to now taking place on the Binance Smart Chain network. Options writing can be performed on BSC for less than $1.00 USD, as opposed to the much higher prices on the Ethereum chain, which can often price out new users.
Mission to bring options to everyone
While we understand there are layer 2 solutions coming to Ethereum, which aim to relieve these user pains, we believe in providing options (pun intended) to as many users as possible, thus, on as many liquid networks as possible.
The Premia team doesn’t plan on stopping at BSC. Having a preferred network other than Ethereum shouldn’t limit users from using financial instruments. So on that note, other compatible layer-1 protocols are currently being explored to help bring decentralized financial products and protocols to as many users as possible.
Premia Finance is a decentralized financial instrument protocol that looks to change the landscape with new & innovative takes to traditional finance products. Currently supporting covered call and put options for various native Ethereum and Binance Smart Chain tokens.
