One of the most recent initiatives in decentralized finance (DeFi), Premia, has been able to raise one of the highest amounts of Ethereum in the short history of this crypto sub-sector. According to available data, the anon-powered option has generated over 19,000 ETH through its Primary Bootstrap Contribution (PBC) where it promised users an opportunity to earn Premia when this event ends.
Developers of the platform promised that “upon the closure of the PBC, all tokens are split according to their pro-rata amount of ETH contributed. For example if two user contribute ETH, User 1 contributes 75 ETH and User 2 Contributes 25 ETH, then User 1 will receive 75% (7.5mm Premia Tokens) and User 2 will receive 25% (2.5mm Premia Tokens) at the conclusion of the PBC period.” Thus, it means that shares of each user change as new donations are made and the amount of the Premia token a user would be liable to, depends greatly on the total amount of ETH received during this period.
The whitepaper of Premia has also stated that only 10million of its token would be distributed among users during this period. It is widely believed that the platform was going to be able to hold its own in the crowded DeFi sector due to the avalanche of its unique features that broadly reflects the aims of the crypto sector.
Its team of developers, known as “members of the Premia republic” has claimed that Premia would allow users to have access to “write, sell and exercise American-style covered calls and puts” through their platform. The team, who met through different crypto related chat rooms received praise for the architecture of the asset. A Solidity Finance representative was quoted to have said that their project ranks as one of the best due to its level of security and the construction of its code.