### What is Premia?

Premia is a decentralised token that aims to be the next-generation options automated market maker (AMM) provider and metavaults on the Ethereum blockchain. It facilitates the buying and selling of options, allowing users to earn market yield on DeFi assets and offers protection through risk hedging.

### How does Premia work?

Premia operates on the Ethereum blockchain, employing a set of smart contracts for peer-to-peer market making and trading of options on ERC-20 tokens. It utilises a bonding curve mechanism for liquidity and price discovery. The platform consists of the Premia Protocol, Premia Vault Depot, and the Premia Interface, with governance enabled through staking.

### What are the potential use cases for Premia?

Potential use cases for Premia include decentralised options trading, peer-to-peer market making, hedging risks in DeFi assets, earning yield on DeFi assets, and participating in liquidity mining programs. The platform also serves governance purposes, enabling users to participate in decision-making.

### What is the history of Premia?

Premia started as a peer-to-peer options exchange in early 2021 with its first version and has since evolved through multiple versions. Premia v1 was deprecated in late 2021 in favour of an AMM-based approach in Premia v2. The most recent update, Premia v3, launched in Q3 2023, introducing a concentrated AMM-based framework with a peer-to-peer order network.

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