Premia exclusively brings ARB/DAI option to Arbitrum Network

It has only been a couple of days since ARB’s launch, and Premia Finance has elevated the token already. The platform is bringing the world’s first ARB options to Arbitrum already.

Now users can exclusively access the ARB/DAI options on Arbitrum. Users can also bridge to the network by accessing Swap and Bridge on Premia Finance. Premia released an official post and string of tweets to inform users about the latest options.

According to the update, Premia understands how traders wish to access ARB options. This will help them to hedge against their airdrop and spot holdings. In addition, it will help them control the exposure, and that is why the team has promptly released the options.

Since a Chainlink Oracle is currently unavailable for ARB, Premia is using Uniswap V3’s pricing oracles. This can be considered a preview of things that will be released on Premia V3. The platform will introduce oracle pricing using Chainlink or Uniswap in Premia V3. 

As for the ARB options, users can opt for the pair queries and cross-check against the ETH – USD pair for precise quotes on USD. On the DAI side, users can access the DAI/USD feed from Chainlink for the DAI quote in dollars.

The price oracle by Uniswap V3 for ARB will switch to Chainlink after it’s oracle is released. Users have been notified that the Uniswap oracles can be subject to issues and volatility. However, if users wish to start, they can buy the ARB Call options by paying the fees.

Moreover, they will need the base DAI pair to get the purchase options. Users can conduct the swapping and bridging without leaving Premia via the Swap and Bridge functionality.

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Premia is offering PREMIA as an incentive to users for depositing in the pool. Everyone is notified to keep a keen eye on the vxPREMIA Dashboard for the latest updates.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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