The Premian Take #6

5 min readApr 7, 2023

When the smoke clears, a winner appears.

Welcome to the sixth edition of The Premian Take newsletter — a biweekly one-stop shop for all your Premia-related news and needs!

The past few weeks have been spent getting dialed in. Launch day for The Premia Academy and our very first options introduction course is fast approaching.

Additionally, we are aiming at launching the Premia v3 exchange layer testnet along with a trading competition around the end of this month. No exact dates, though — we all know how that goes… Stay tuned for more updates on our Twitter and Discord!

In other news, Arbitrum’s decentralized governance took off to a rocky start, with the AIP-1 proposal receiving very harsh backlash from the community — keep reading for details!

Without further ado, let’s kick things off. The Ethereum Shanghai upgrade is due for the 12th, the Fed is causing uncertainties, all while Premia has been under the radar with new integrations and partnerships.

Time to dive in!

Here’s a TL:DR of everything you might’ve missed regarding Premia over the past two weeks:

Shanghai Upgrade, LSDs, Arbitrum DAO, and the Fed

With multiple notable events lined up for crypto, April is shaping up to be a hell of a ride.

The Ethereum Shanghai upgrade, CPI data, and the minutes of the last Fed meeting will all go down on April 12th. Keep an eye out for the Fed-related stuff, as it could give hints on whether we’re going to be seeing further interest rate hikes in May.

The long-awaited Ethereum Shanghai upgrade will allow ETH stakers to finally unstake their ETH. While this should initially result in volatility, the Shanghai upgrade is very, very bullish for ETH in the long term.

LSDs along with LSDFi products are seeing impressive growth across the board. From rising TVL to new protocols and token prices going parabolic, LSDs might still be something to pay close attention to.

From lending platforms to options markets, LSDFi products provide simple utility for LSD tokens such as frxETH and stETH. As the Shanghai upgrade unlocks staked ETH, users will feel safer about staking their ETH for LSDs, providing a medium- to long-term catalyst for growth.

Finally, in case you missed it, Arbitrum finally airdropped their token a few weeks ago. The first Arbitrum Improvement Proposal, AIP-1, aimed to fund the Arbitrum Foundation with 750M $ARB tokens. With very poor communication and a near-forced proposal pass, Arbitrum’s claims of decentralized governance came under scrutiny. The Arbitrum Foundation then backtracked their proposal in the face of backlash.

Let’s go in-depth with Premia’s main highlights from the past few weeks:

Premia v3: What Changes for Traders?

The Premia v3 testnet is approaching…

In this article, we cover the essentials that every options trader needs to know about the changes of Premia v3:

Orderbook & AMM Hybrid design to optimize liquidity management and execution
The multiple price quotes sources: RFQ network, liquidity pools, and strategy vaults
Transition from American to European options
Advanced trading UI

Get your free alpha here!

Premia x Marty Options Talk w/Johnny and Lil Qwant

Join Marty and the Premia Crew with our special guests Johnny and Lil Qwant as we talk about the $20M Deribit/CME trade and the current vol regime.

Johnny Puts is a TradFi trader with history in options, futures, and interest rate swaps!
Lil Qwant is an ex-car sales aficionado turned data science and options enjoyer!

This week, our crew consists of:

Marty, Art School Dropout Turned Vol Trader
Cozy, On-Chain Degen
DK, Headmaster
Tolga, TradFi Boomer
Johnny, TradFi Veteran
Lil Qwant, Data Science & Options Enjoyer

Listen to the entire thing on our YouTube channel here!

Governance Series: The Path to Decentralization

Achieving a truly decentralized nature is essential for the ethos of DAOs. However, the path towards it is often more complicated than it seems.

The proliferation of DAOs is undeniable — over 11k organizations have been registered by DeepDAO. But, their level of decentralization is often questionable.

Join us in exploring a sustainable path to true decentralization for DAOs here!

This edition of the Governance Series was an absolute pleasure to read. Make sure to take a look!

Statistics

After surpassing $300M in cumulative volume, Premia has kept up a respectable pace.

TVL has been on a solid uptrend after we came out with the world’s first $ARB options!

Additionally, although the Knox call vault was losing quite badly from the legs up over the past month, it’s now on a steady recovery.

Let’s take a look at Premia’s stats over the last few weeks:

Current TVL: $14.18M, 9.5% increase from Mar 25th
Volume Mar 26th — Apr 6th: $6.78M, slightly down
Current Knox Call Vault APY: 0.9%
Current Knox Put Vault APY: 5.8%

Note that yields are projected based on past vault performance, and are subject to change according to market conditions.

Community Spotlight

Our community are the main factor in helping drive Premia forward. As a small token of our gratitude, we include community spotlights in each newsletter ❤

Amazing audition by @crypto_linn for the Premia Academy!

Arbitrage alert from @stradlexyz!

Why not hedge on Premia, anon?

Afterword

That’s it for this week!

Premia Academy is launching in a few weeks, and the v3 testnet is launching a few more weeks after that. Look forward to exciting things down the pipeline!

Hope you ain’t sidelined anymore, anon.

Make sure to follow Premia’s Medium account & subscribe to email notifications to stay up to date with all things Premia and DeFi options!