Premia Bi-Weekly Update 2023-12-15
Recap
STIP Proposal
Program Start Date: 2023-11-15
Objective: To reduce friction solving the cold start problem for the Premia Blue Options Exchange.
600k to Vaults (Natural Options Sellers) - Live
200k to Trading and Market Making (Natural Options Buyers) - Live
100k to Partners looking to integrate Options Liquidity Mining - Discussions Ongoing
Other Obligations:
- 500k Self-Funded ARB Vault Deposit - Complete
- Premia matching 550k PREMIA to Vaults during STIP Period - Complete
- Premia Academy Incentives - Quest 2 of 8 to start 2023-12-18
Tracking:
- Dune Dashboard - Complete
- OpenBlock Labs Dashboard - In Progress
Previous Two Weeks
ARB Received Last Disbursement: [0] 127,572 To Be Claimed (385,716 Total Claimed After)
ARB Utilized as Incentives in the Last Two Weeks: [152,409] (319,681 Allocated)
Contracts incentivized over the last 2 weeks:
0xBCDBE71CA6475c3bE9f05E75bbDff7C3979Fdc52
0x9a0A6f6F7F704ef9319dA2B2a8b9D714a62cb9e3
0xeCD0E29f5B74830cE05B1342A3979b878EBa18cf
0x35cBF452957Abd321CfFcCE0b95E0eE0C4425cE7
0xf9De6BDd2023f3139c92f38D7148D19db79f1DF6
0xF675B6808211F15901D71d73f1917Ff1Cd759cCd
0x37B9Faa3E19c548d8176d9805f9b3eDc9A498fE1
0x25EDea507B31550792feB5C0c8906db1A2A1a462
0x1D81c268B8dFb17DcfFDff4620357C601f25EaAf
0xd6Be33D8d6f39C8c2783262e696f27f7565cE4CC
0xF7DFf579E9B715c1Dc3414CeD3f40c4dC28E2E08
0x4C1EF78fe6C77E05dD93052b246FAB9839D9b307
0xb626f929b412ac52C95330fc55330EeC51a6214b
0xE398ef557b4A91EF3b32B00d6A55e65C31a1def5
0xC4117377104aD15041ACE1e2B47e9BCb1efF9d60
0x3a2bd0CFD8320bFB2Cf45ff12E90A31AcE884C6D
0x96459876A7F36788cB8926A2f55ADAE7Fc385184
0x3561f9AB9C0E180FABF1127CB44a410306c17182
0xF42b0faBbB187Af5eE56C888de0672cA562AA9AC
Contract address label Form 12 completed for all addresses: [Yes]
ARB left over: [66,035]
Plan for leftover ARB:
Will begin dispersing as part of trading competition & market making rewards on 2023-12-26.
To follow the in depth plan including vaults, rates, dates, and status please reference our Premia STIP Tracking document which is updated regularly.
Summary of incentives:
TVL has continued to grow, increasing by ~1mm since the last report.
Phase 2 of the STIP campaign begun on 2023-12-08, where academy, trading, and market making components have now begun. The remaining 12 vaults are also now incentivized.
Additional Info / Disclosures to Multisig:
Other Notable Events relevant to STIP Campaign
- Joined Camelot’s Round Table
- Blue SZN STIP Campaign began 2023-12-04
- Launched Blue SZN Week 1/8 Activity: GMX Galaxe Quest
- Incentivized remaining 12 Vaults
- Open source release of MM Range Order Trading Bot
- Blue SZN Trading Competition Started 2023-12-08
- Premia Blue Deep Dive by Revelo Intel released
- Partnership: Participated in STIP Arbitrum Marathon with the Rollup, Flywheel Defi (Frax), Arbitrum DAO day, among others.
Statistics
Metrics below will be according to the initial phase being the six vaults that were incentivized since the start of the STIP period (15 days from 2023-11-15 to 2023-12-01). The Dune dashboard is still in progress, however I have created some views specific to the STIP period that can be found at the bottom of the page. Dashboard: https://dune.com/premia/premia-blue
Average daily TVL:
TVL Today 5.5mm in USD (Prev: TVL Today 4.1mm in USD)
TVL Average 5.4mm in USD (Prev: TVL Average 3.9mm in USD)
Beginning TVL ~2mm in USD
Average daily transactions:
487 Avg Daily Txns = (Prev: 235 Avg Daily Txns)
Average daily volumes:
214k USD Daily Notional (Prev: 115k USD Daily Notional)
Note: We are seeing volumes increase, with more participants as well, given the trading competition has just begun.
Number of unique user addresses:
1094 (Prev: 886 - Since 2023-11-15)
Transaction fees:
6.3 eth (Prev: 3.4 eth)
Link to Dashboard showing metrics: [https://dune.com/premia/premia-blue]
Dashboard development remains in development; however, STIP requirements have been met. For those interested in tracking the requirements document (as well as the details sharing with OpenBlock Labs) please find the dashboard requirements document.
Plan For the Next Two Weeks
Amount of ARB to be distributed:
118,022 ARB to Vault LPs (rate of 59k/week)
50,000 ARB to Traders (To Start 2023-12-26 rate of 25k/week)
We expect to distribute 168,022 ARB every two weeks for the remainder of the STIP period (2024-01-31)
Contracts that will be incentivized:
All contracts for vaults have been deployed and funded.
The Trading Competition/MM simple claiming contracts will be provided once deployed.
Contract address label Form 12 completed for all addresses: [Yes]
Mechanism for distribution incentives:
- Dual Mining Smart Contracts for Vaults - Complete
- Simple Claiming Contract for Trading & Market Making Incentives (offchain tracking, however a leaderboard has been produced)]
Summary of incentives plan:
- Weekly Quests via Galaxe starting 2023-12-04 (1 per week) - Live
- All Dual Mining rewards for Vault Deposits 2023-12-05 - Complete
- Trading Competition begins 2023-12-08 - Live
- Marketing Events with partner protocols ongoing
Summary of changes to the original plan:
No changes to plan this week, and given the STIP extension, Premia is still prepared to complete the disbursement of Vault, Trading, and MM incentives according to the original timeline. However, we may take the additional time for the Partnership component (100k)