Premia Bi-Weekly Update: Final w/ Reflection

Premia Bi-Weekly Update 2023-12-30


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 3 of 8 - Live


Previous Two Weeks

ARB Received Last Disbursement: [255,144] Claimed (127,572 Total Claim Remaining)

ARB Utilized as Incentives in the Last Two Weeks: [152,409] (319,681 Allocated)

Contracts incentivized over the last 2 weeks: 0xBCDBE71CA6475c3bE9f05E75bbDff7C3979Fdc52

Contract address label Form 12 completed for all addresses: [Yes]

ARB left over: [0]

Plan for leftover ARB:

To follow the in depth plan including vaults, rates, dates, and status please reference our Premia STIP Tracking document which is updated regularly or now the live updated STIP Specific Section of the Dashboard

Summary of incentives:
TVL continues to grow, increasing by ~1.2mm since the last report.
Trading volume has been lackluster during the holiday period; however, organic activity is starting to pick up post Christmas.
Phase 2 of the STIP campaign began on 2023-12-08, where academy, trading, and market-making components have now begun. Interestingly we are now seeing ~20% of daily activity algorithmically driven.

Additional Info / Disclosures to Multisig:
Other Notable Events relevant to STIP Campaign

  • Blue SZN STIP Campaign began 2023-12-04
  • Launched Blue SZN Week 2/8 Activity: Redstone Quest
  • Blue SZN Trading Competition Started 2023-12-08 (Week 4 Currently)
  • Layer3 Holiday Quest
  • Quiet weeks due to holidays, with trading competition rewards payout to commence on 2024-01-02
  • Socials have continued to grow from 30k->37k during the period mostly driven by quest and partnership programs.


The Dune dashboard is always being enhanced, however I have created some views specific to the STIP period that can be found at the bottom of the page.
Overall Dashboard:
Trading Competition:

Average daily TVL:
TVL Today 6.97mm in USD (Prev: TVL Today 5.5mm in USD)
TVL Average 6.73mm in USD (Prev: TVL Average 5.4mm in USD)
Beginning TVL ~2mm in USD

Average daily transactions:
685 Avg Daily Txns = (Prev: 487 Avg Daily Txns)

Average daily volumes:
149k USD Daily Notional (Prev: 214k USD Daily Notional)

Number of unique user addresses:
1563 (Prev: 1094 - Since 2023-11-15)

Transaction fees:
12.3 eth (Prev: 6.3 eth)

Link to Dashboard showing metrics: []
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. A Trading competition document has also now been added to Dune

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 (Began 2023-12-26 rate of 25k/week) - (Shown on TC Dash)
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 have been deployed.
Trading Winners for weeks 1-3 will be allocated via disperse on 2024-01-02

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 - Complete

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)

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