PREMIA
Monad mainnetconnecting…

Lock your funding bill in dollars.

Perp funding changes every 43 minutes and nobody can plan around it. PREMIA swaps Perpl's floating funding for a fixed rate, and settles from the funding sum Perpl itself records on Monad. No oracle, no keeper.

…Rate a ZEC long can lock right now
…What ZEC longs actually got, last 3 days
…ZEC mark price on Perpl
Longs paid Longs got paid Fixed rate you can lock

Each bar is one Perpl funding interval for ZEC, read live from getFundingSumAtBlock on the Perpl contract. Shown as a yearly rate on the position's notional. The swap's floating leg is built from these same reads.

Series

A series covers 33 funding intervals (about a day). Trading runs until the window starts; after it ends, anyone can call settle().

Reading series from the contract…

Check the math yourself

Series 1 settled at −2440 per lot. This button reads Perpl's funding sum at the window's first and last block, subtracts them in your browser, and compares the result with what PREMIA stored. Same chain, no server in between.

Prefer a terminal? cast call 0x34B6552d57a35a1D042CcAe1951BD1C370112a6F "getFundingSumAtBlock(uint256,uint256)(int256,uint256)" 50 109148722 --rpc-url https://rpc.monad.xyz, then again at 109431565.

Results appear here.

One tap from a phone

The wallet is a passkey. mera derives the key on the phone from Google Password Manager: no seed phrase, nothing stored, same address after a reinstall. On 8 Oct one tap did all of this, signed once, in about 2 seconds:

  1. Approve AUSD for Perplblock 111565158
  2. Top up the Perpl account with 11 AUSDblock 111565160
  3. Open a 0.01 ZEC long at 2xblock 111565162, filled at 1236.84
  4. Lock its funding on PREMIAblock 111565164, pay-fixed 1 lot at −120

After series 2 settled on 25 Oct, the same phone claimed the payout, closed the long and withdrew the collateral (evidence).

Also: 2-minute pitch, technical demo.

How it settles

Perpl keeps a running sum of funding per market and lets anyone read it at any past block. A swap's floating leg is two of those reads, so it equals what Perpl charged the position: the hedge has no basis. settle() is permissionless and returns the same number however late it's called. Both sides are fully collateralised in AUSD with a capped payoff, so nothing can be liquidated.

PremiaSwap contract (verified source) · contracts repo · app repo

What isn't done yet

  • Every counterparty so far is one of the builder's own wallets.
  • The perp and the swap are separate transactions, not one atomic trade.
  • Unfilled maker quotes can't be withdrawn once trading closes (0.12 AUSD in series 1 and 0.08 AUSD in series 2). The fix is documented in the repo.
  • PREMIA hedges funding, not price.