Premia Blue

Vault Layer and Message Network Explained! As well as some updates on timelines and integrations for V3!

Exchange Layer (Base) Summary:  

Premia V3 is a non-custodial options settlement engine and an automated market-maker implemented for the Ethereum Virtual Machine.  

The pool market structure is a hybrid between limit order book characteristics and AMM characteristics, using range orders and linear pricing.  

LPS can set the market price with their deposits and create more competition in the market.  

Initializing a pool requires a fee that increases as a function of days to expiration, and there are guardrails in place to incentivize popular options.  

Split user accounting allows end users to control their long and short exposure by defining the assets that they put into the range order.  

LPs collect trading fees, with 50% going to the LP and 50% going to the protocol. 

There is also a gas cost associated with putting and cancelling range orders.

Information regarding the recent attempted exploit, emission updates, base layer overview, and some promising weekly stats.

Learn about the Knox Vaults Launch this week and some upcoming V3 features.

Come into the discord if you have any additional questions in anticipation for the first Auction Epoque on Jan 27 2023

• Deposits will open tomorrow (Jan 25) and the first auction will happen on Friday (Jan 27) morning Eastern Standard time.
• Liquidity migration from mainnet to arbitrum will happen roughly around midnight UTC (Jan 23).
• Preliminary V3 timeline has been included on the community site, however more concrete timelines will be known in 2 weeks (notes.premia.community)
• The team is working on strike & maturity validation functions, as well as exercise & settlement functions.