The Premia Tsunami 🌊

Premia Finance
5 min readMar 1, 2021

A wrap-up of what’s been accomplished thus far for Premia 💎.

A lot has taken place since the launch of the Premia marketplace two weeks ago, and even more so in the last week since the Premia token became available on Sushiswap 🍣.

Since the team’s main communication platforms are Twitter and Discord, it is possible for updates to be missed or overlooked by the community. As such, the Premia team would like to herein present a consolidation of the partnerships, additions, and upgrades that have taken place thus far.

Whitelisted Projects

This past week, two new projects were whitelisted on the Premia marketplace: DPI and Cover.

DPI

The Defi Pulse Index (DPI)is a weighted index made up of some of the top protocols in DeFi. The index is made up of UNI, AAVE, SNX, MKR, COMP, YFI, LRC, REN, BAL, KNC, & MTA (Additional Information can be found here.

Adding DPI was an easy addition for Premia, as we had already listed a majority of the DeFi blue-chip names and we believe a strong performing index with an even stronger team (Index Coop) is the next logical step in pushing the Premia Platform forward. In the traditional finance world, ETFs or funds that track an index deliver some of the highest traded volumes. This is due to the inherent diversified nature of the instrument, as it is an easy entry to gain exposure to the industry/market as a whole, and we believe the same will be true in DeFi, thus DPI was a best in class choice.

COVER

COVER is a peer-to-peer coverage market for Ethereum projects. When there is a demand for coverage, COVER protocol incentivizes market makers to fill the need of the demand. At the same time, it lets the market set the premium of the coverage.

COVER Protocol separates itself from other coverage protocols due to independent coverage ceilings as opposed to pooled staking. Users can obtain ERC-20 coverage for the time period they need as well as trade their coverage on Balancer and Uniswap at any time.

As a household name in the defi-space, whitelisting COVER protocol was a no-brainer, and we were more than excited to begin our partnership with the team!

Marketplace Coverage

Along with the addition of Cover as a whitelisted project, Premia has partnered with Cover to provide insurance coverage to the Premia marketplace! This means that individuals can now acquire insurance that covers any exploit to occur on the premia marketplace where a user(s) funds were lost due to said exploit.

An incentivized coverage pool has been added to Cover that can be found here for interested parties.

SushiSwap Onsen Menu

On the 25th of February, Premia was added to Sushiswap’s incentivized liquidity program, known as Onsen. Individuals staking in the Onsen Premia/ETH SLP pool receive additional benefits in the form of SUSHI for providing liquidity.

The pool was started with 5 allocation points and will be assessed each week for potential boosts in rewards. Big thank you to the sushi team for including Premia!

Premia Marketplace launches on BSC

The biggest news this week comes from the Premia Marketplace being released on Binance Smart Chain network. Rather than port over exactly from ETH to BSC as some projects have, the Premian Republic took the approach of offering a complimentary options market to the pre-established marketplace on Ethereum; two markets, one protocol.

On BSC, a selection of top layer-1 assets, defi blue-chips, as well as BSC native assets are available. Staking for the Premia token, as well as the corresponding rewards, will be available in the coming weeks on BSC once a token bridge is in place.

For more information on the Premia BSC Marketplace, check out our article here.

Portfolio tracking and exchange support

And let’s not forget about all of the love that got shown to Premia this past week. Premia was added to the following platforms:

  • Zerion: Portfolio tracking and exchange.
  • Zapper: Portfolio tracking and exchange.
  • Blockfolio: Portfolio tracking.
  • HotBit: Exchange and incentivized staking program.

What’s next for Premia?

  1. Arguably the most anticipated: A proposal has been written and is being finalized for the community to vote on, regarding implementing order book mining as a form of incentivizing liquidity on the platform via Premia rewards. — If approved, this will be implemented within the next week.
  2. The development team has been hard at work improving the UI and UX of the existing website by iterating through the community’s feedback and multiple previously planned improvements. Multiple new developers have been brought onto the team, which should speed up the development of improvements to the platform.
  3. An AMM is in development to allow liquidity providers to deposit liquidity in the asset of their choice (any asset supported on our platform), and earn yield in that asset by facilitating options trades on the marketplace. — Development is on-going but in the early stages. This will likely not be available for beta testing until late March, early April.
  4. The team is working on several business relationships with external market makers, centralized exchanges, marketing teams, sidechains, and layer 2 solutions to continue to move forward multiple stages of the Premia roadmap (which can be found in the technical overview here). — An updated roadmap will be provided to the community in a few weeks, exploring the future plans for Premia and the financial instruments coming to the platform soon!
  5. More assets? ツ

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.

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Premia Finance

Decentralized options protocol revolutionizing market-driven pricing and capital efficient returns for all. Trade American style options, earn yield on crypto.