# Overview A Brief Introduction of Premius In the dynamic landscape of cryptocurrency trading, market participants often face unique challenges that necessitate innovative solutions. Our platform, [**Premius Market**](https://doc.premius.market/www.premius.market), is at the forefront of addressing these needs by providing a specialized environment for pre-market and points market trading. Targeting a niche segment of the crypto ecosystem, **Premius Market caters to users looking to navigate the complexities of trading tokens before they are publicly available and dealing in project points that carry substantial transaction volumes**. At the core of our solution is the on-chain orderbook smart contract, a revolutionary tool that allows users to place buy or sell orders transparently and securely. This system is designed to mitigate the risks associated with traditional OTC trading methods, such as middleman fraud and counterparty default, by leveraging blockchain technology to ensure transaction integrity and enforce settlement rules. Premius Market stands out by offering a seamless and user-friendly interface that simplifies the process of connecting buyers and sellers in these specialized markets. Our platform is not just a marketplace but a comprehensive ecosystem that integrates advanced trading functionalities, secure transaction mechanisms, and a robust economic model, all designed to enhance the trading experience and maximize the value for our users. In the following sections, we will delve into the specific user needs addressed by Premius Market, the detailed solutions we provide, the interaction design of our product, and the economic model that underpins our platform's operations. Join us on this journey to explore how Premius Market is setting a new standard for trading in the pre-market and points markets of the cryptocurrency world. # Background Airdrop OTC Pre-Market Background In the Pre-market phase, users encounter the unique challenge of holding tokens that are not yet tradable on public exchanges. This situation typically occurs during the Pre-TGE (Token Generation Event) period, a time marked by heightened anticipation and speculative activity, where market participants are keen on securing profits or acquiring tokens at perceived lower valuations. Market participants in the Pre-market phase are primarily focused on two objectives: * **Selling tokens before they are listed on public exchanges to secure potential profits.** * **Buying tokens at pre-listing prices in anticipation of future gains.** Traditionally, Pre-market trades are conducted through OTC (Over-The-Counter) transactions, where buyers and sellers negotiate directly or through intermediaries. However, this approach is fraught with challenges: 1. **Difficulty in finding a counterparty or intermediary:** Identifying suitable trading partners or reliable intermediaries can be a cumbersome and time-consuming process, often hindering the efficiency of Pre-market trading activities. 2. **Risks associated with the transaction:** * **Middleman Fraud Risk:** The reliance on intermediaries increases the vulnerability to fraud. There is a heightened risk of middlemen absconding with the funds or tokens, compromising the security of the transaction. * **Counterparty Default Risk:** In the absence of a robust mechanism to enforce the transaction, there is no guarantee that the seller will deliver the tokens upon their listing, which could lead to significant losses for the buyer. # Pre-Market Premius Pre-Market Premius Market addresses the current airdrop OTC pre-market challenges by streamlining Pre-market trading. It eliminates the need for intermediaries through a decentralized platform, reducing the potential for middleman fraud. Furthermore, the platform incorporates smart contracts to ensure the fulfillment of trade agreements, thereby mitigating counterparty default risk. This infrastructure not only enhances the security and transparency of transactions but also simplifies the process of connecting buyers and sellers, facilitating a more efficient and reliable Pre-market trading experience. # Place and Accept Offers In Premius Market, if users do not find existing orders that meet their requirements, they have the option to place their own orders. This process is designed to ensure the security and commitment of both parties involved. **Placing Orders** 1. **Buy Orders:** To place a buy order, buyers are required to deposit an amount equivalent to the order value. For example, if a buyer wishes to purchase 1,000 $XYZ tokens at a price of 0.001 ETH per token, they must create a buy order for “1,000 $XYZ at 0.001E” and deposit 1 ETH (1,000 x 0.001E) as a guarantee. 2. **Sell Orders:** Sellers, on the other hand, must pledge collateral equivalent to the order value to place a sell order. For instance, to sell 1,000 $XYZ tokens at 0.001 ETH each, a seller must create a sell order for “1,000 $XYZ at 0.001E” and provide 1 ETH (1,000 x 0.001E) as collateral. **Accepting Orders** Users can accept existing orders on the market. Regardless of whether it is a buy or sell order, the accepting user must also place an amount of deposit or collateral equivalent to the order value. **Order Cancellation** Users have the flexibility to cancel their orders at any time before acceptance by a counterparty. In such cases, Premius Market will charge a platform fee of **0.5%** of the order value to cover the transactional and operational costs. This structured approach to placing and accepting orders within Premius Market not only facilitates a streamlined trading process but also aligns with the platform's commitment to maintaining a secure, transparent, and efficient trading environment, addressing the challenges highlighted in the background section. # Settlement Rules If a buyer and a seller are matched, after the Token Generation Event (TGE), **the seller should transfer tokens to the Premius Market contract**. Then there are two situations: 1. The seller fulfills the order and transfer the token. The contract then verifies the transaction and releases the tokens to the buyer, and the buyer’s deposit along with the seller’s collateral are transferred to the seller. A transaction fee of **2%** order value will be deducted for both the deposit and the collateral. 1. The seller fails to fulfill the order If the seller fails to fulfill the order, the buyer will receive both the seller’s collateral and their own deposit. A transaction fee of **2%** order value will be deducted for both the deposit and the collateral. # Points Market In the realm of digital assets, many projects issue their own project points to users. These points are typically viewed as convertible into project tokens in the future, based on predefined rules. As a result, users are motivated to trade these project points, akin to trading pre-TGE tokens, anticipating future value realization. **Trading Project Points** In Premius Market, the mechanism for trading project points mirrors that of the Pre-market phase. Users can place buy or sell orders for project points, with a requirement to deposit an amount equal to the order value, ensuring financial commitment and risk mitigation in the transaction process. **Conversion and Settlement** Once the project announces the conversion rules from points to tokens, Premius Market steps in to facilitate the next phase of the transaction. The platform automatically calculates the quantity of tokens that the seller should transfer to the buyer based on these conversion rules. This ensures a seamless transition from points to tokens, aligning with the economic dynamics of the underlying project. **Fee Structure** The fee structure in the Points Market is consistent with that of the Pre-market. This uniformity simplifies the understanding of transaction costs for users and maintains a straightforward economic model across different market segments within Premius Market. In summary, the Points Market in Premius Market offers a structured and secure platform for the trading and conversion of project points, ensuring a coherent and efficient process for users to capitalize on their digital assets. # Tutorial For Airdrop Sellers If you possess some airdrop tokens/points, and you decide to sell them, check the tutorial below. You have two ways to sell your assets: **< Fill Other’s Want-To-Buy Offer in Buy Market >** **< Create A Want-To-Sell Offer >** If you do so, you need to deposit equivalent collateral that possesses the same value as the want-to-sell airdrop tokens for the offer as a guarantee to ensure that you will deliver the airdrop token to the buyer. The decentralized smart contract will secure your funding and you can reclaim it once you **< SETTLE your offer >** as promised, at that time you can successfully claim your collateral and buyer’s deposit. As a seller, if you have created an offer, you can also **< CANCEL the offer >** if nobody fills it. Canceling the unfilled part of the offer is also allowed in Premius. # Fill Other’s Want-To-Buy Offer As an airdrop premarket, Premius consists of a lot of want-to-buy offers created by users longing for a certain type of airdrop tokens, if you happen to have the allocation of this type of airdrop tokens and want to sell it, you can always find the buying offers with the adequate price here. ### Here is a tutorial on how to find your ideal offer: **Step 1**: Kindly enter the market (pre-market tab & point-market tab) and find the airdrop project of which you possess the token, you can check the project's detailed information and all the buy/sell offers. *Note: There are two types of fill type, Single Fill (1 user MUST fill the entire offer) and Partial Fill (the offer can be filled by multiple users).*
**Step 2**: If you spotted your ideal offer, click SELL button, make sure of the collateral and you can proceed to complete the transaction (Be aware: if this is your first time using the collateral token on Premius, you need to approve the token first).
**Step 3**: After completing your transaction, you can find this filled offer on your DASHBOARD page, you can find it in Dashboard - My Orders.
# Create A Want-To-Sell Offer If you feel it’s hard to find your ideal offer in the market, you can also create your own Want-To-Sell offer by clicking on the **CREATE OFFER** button. You can set your ideal token price and amount, with the equivalent collateral, you are off to publish the offer to the market for others to purchase. ### Here is a tutorial on how to create a SELLING offer: **Step 1**: Click the CREATE OFFER button, and you will see the page below, follow the steps and set the premeters of your offer, you are off to set your ideal selling amount and token price. Make sure you have chosen the fill type before you CONFIRM your offer.
**Step 2**: After confirming your offer, you can double-check all the needed information about your offer, then click DEPOSIT to deposit equivalent collaterals, you have successfully created your offer.
**Step 3**: After successfully creating the Want-To-Sell offer, you can find your offer listed in the Pre-Market - Buy section, so the buyers can purchase your airdrop tokens here. **Step 4**: You can also find this created offer on your DASHBOARD page, you can find it in Dashboard - My Offers.
# Cancel Your Offer If you have a second thought on your Want-To-Sell offer, you can also CANCEL your offer before others can fill it. Please be aware, there is a cancellation fee for canceling your offer. *Notice: the cancellation fee would be applied ONLY to the unfilled amount of the offer.* ### Here is a tutorial on how to cancel your offer: **Step 1**: Please navigate to Dashboard- My Offers, select the offer that you want to cancel, and click CANCEL. *Notice: If there is no CANCEL button for an offer, that means the offer has been filled, and it can not be canceled. Only the unfilled (part of) offers can be canceled.*
**Step 2**: You can see the canceling offer details here, make sure you want to cancel it, click CANCEL OFFER to complete the transaction.
**Step 3**: If you want to view your canceled orders, select the ‘canceled’ criteria and you can find all your canceled orders. # Settle Your Orders Make sure to **SETTLE YOUR ORDERS** to finish the trade to reclaim your collateral as long as the buyer’s deposit. **Settlement Period**: Make sure to settle the order before the settlement phase ends, otherwise you may lose your entire collateral. #### 🚨OVERDUE: If the settlement phase has ended, the seller did not settle (deposit airdrop token in the order), your collateral will be as compensation and be claimed by the buyer. You will forever lose your collateral fund. #### Here is a tutorial on how to settle your offer: **Step 1**: Please navigate to the Dashboard - My Order section, you can find your Need-To-Settle orders here, click SETTLE button to proceed with the settlement process. *Notice: SETTLE can ONLY be done in the My Orders section. Orders in the settlement phase will be automatically placed on the top of the list, with the SETTLE button shown in the action section.* **Step 2**: Make sure all the information on settling this order, and deposit the airdrop token to complete the transaction.
**Step 3**: If you want to view your settled orders, select the ‘settle filled’ criteria and you can find all your settled orders.
# Tutorial for Airdrop Buyers If you want to have some airdrop tokens/points, but you don’t get the chance to get them in airdrop activities, don’t worry, you can get all you want in Premius. You have two ways to purchase airdrop tokens/points: **< Fill Other’s Want-To-Sell Offer >** **< Create A Want-To-Buy Offer >** As a buyer, if you have created an offer, you can also **CANCEL the offer** if nobody fills it. Canceling the unfilled part of the offer is also allowed in Premius. If the seller DID NOT settle your offer, you can also **Claim Compensation** after the settlement phase.
# Fill Other’s Want-To-Sell Offer As an airdrop premarket, Premius consists a lot of want-to-sell offers created by users who want to sell their airdrop tokens for early liquidity, you can always find the selling offers with an adequate price here. ### Here is a tutorial on how to find your ideal offer: **Step 1**: Kindly enter the market (pre-market tab & point-market tab) and find the airdrop project of which you possess the token, you can check the project's detailed information and all the buy/sell offers. *Note: There are two types of fill type, Single Fill (1 user MUST fill the entire offer) and Partial Fill (the offer can be filled by multiple users).*
**Step 2**: If you spotted your ideal offer, click BUY button, make sure of the collateral and you can proceed to complete the transaction (Be aware: if this is your first time using the collateral token on Premius, you need to approve the token first).
**Step 3**: After completing your transaction, you can find this filled offer on your DASHBOARD page, you can find it in Dashboard - My Orders.
# Create A Want-To-Buy Offer If you feel it’s hard to find your ideal offer in the market, you can also create your own BUYING offer by clicking on the **CREATE OFFER** button. You can set your ideal token price and amount, with the equivalent deposit, and you are off to publish the offer to the market for others to fill. Here is a tutorial on how to create a BUYING offer: ### Here is a tutorial on how to create a Want-To-Buy offer: **Step 1**: Click the CREATE OFFER button, and you will see the page below, follow the steps and set the premeters of your offer, you are off to set your ideal selling amount and token price. Make sure you have chosen the fill type before you CONFIRM your offer.
\ **Step 2**: After confirming your offer, you can double-check all the needed information about your offer, then click DEPOSIT to deposit your ideal price for the tokens, you have successfully created your offer.
**Step 3**: After successfully creating the Want-To-Buy offer, you can find your offer listed in the Pre-Market - Sell section, so the buyers can purchase your airdrop tokens here. **Step 4**: You can also find this created offer on your DASHBOARD page, you can find it in Dashboard - My Offers.
# Cancel Your Offer If you have a second thought on your Want-To-Buy offer, you can also CANCEL your offer before others can fill it. Please be aware, there is a cancellation fee for canceling your offer. *Notice: the cancellation fee would be applied ONLY to the unfilled amount of the offer.* ### Here is a tutorial on how to cancel your offer: **Step 1**: Please navigate to Dashboard- My Offers, select the offer that you want to cancel, and click CANCEL. *Notice: If there is no CANCEL button for an offer, that means the offer has been filled, and it can not be canceled. Only the unfilled (part of) offers can be canceled.*
**Step 2**: You can see the canceling offer details here, make sure you want to cancel it, click CANCEL OFFER to complete the transaction.
**Step 3**: If you want to view your canceled orders, select the ‘canceled’ criteria and you can find all your canceled orders. # Claim Your Compensation ### There are two possible results of your orders: **The seller settled the order (deposit the airdrop tokens)**: You will automatically receive the airdrop tokens in your wallet, there is not an extra move you need to do; **Order status OVERDUE**: Default process initiated, you can retrieve your deposit, while claiming the seller’s collateral as compensation at once. *NOTICE: If your BUYING offer were not filled until the settlement phase began, you should CANCEL the offer to reclaim your deposit, please refer to ‘Cancel Your Offer’ for the canceling process.* ### Here is a tutorial on how to Claim Your Compensation when the order is overdue: **Step 1**: Please navigate to the Dashboard - My Order section, choose the criteria ‘Claimable’ and you can see the seller-default orders. **Step 2**: Click 'Claim' button and confirm the compensation and your original deposit, proceed to claim your compensation. *NOTICE: Claim compensation action would take 2% platform fee.*
**Step 3**: If you want to view your compensated orders, select the ‘claimed’ criteria and you can find all your claimed orders. # Premius Sparks Premius Native Point System ### **The Usage of Premius Sparks** Premius Sparks serve as a dynamic tool within the Premius Market ecosystem, designed to enhance your experience and interaction with our platform. As a user, you can utilize these sparks in several impactful ways: 1. **Trading Discounts**: Use your sparks to receive discounts on trading fees, making your transactions more cost-effective. 2. **Exclusive Access**: Gain early or exclusive access to new features, products, or services before they become available to the general public. 3. **Special Events**: Use sparks to enter special events, competitions, or access premium content, enhancing your engagement and enjoyment of the platform. By integrating Premius Sparks into your daily activities on our platform, you not only contribute to the ecosystem's growth but also unlock a range of benefits tailored to enhance your trading and investment experience. ### **Core Activities and Sparks Allocation** Coming soon # Premius V2 Flexiable Collateral, Better Liquidity & Yielding Incentives **Flexible Collateral Ratio for Sellers:** * When Sellers create orders, they can choose the collateral ratio. The more collateral the seller provide, the higher chance the order will be accepted by the buyer. * When Buyers create orders, they can set the mininum collateral rate they are willing to accept. **Position NFT issuing for better liquidity** * When an order is matched, the buyer receives the Position NFT, which can be traded on NFT marketplaces. This feature not only opens up secondary market dynamics for these NFTs but also allows for the real-time adjustment of investment strategies based on market performance and expectations. **Staking Yield for Deposits/Collaterals** * **Collateral Yield Generation:** Implementing a system where user's deposit/collateral used in trading not only secure the position but also generate staking yields, offering users an additional stream of passive income and enhancing the capital efficiency of their investments. # Future Updates Aiming to be the TOP1 Airdrop OTC Pre-Market and More **Expanded Trading Assets and Instruments** 1. **NFT Whitelists:** Users will have the opportunity to access exclusive whitelists for upcoming NFT launches, providing early investment opportunities and exclusive access to high-potential projects. 2. **Runes:** Introduction of Runes as a tradable asset, offering unique utilities and benefits within the ecosystem, potentially influencing trading strategies and portfolio diversification. 3. **Future Endings of an Address:** Innovative feature that will allow users to speculate or hedge on the future balance or status of blockchain addresses, introducing a new dimension to crypto asset trading. 4. **Realistic Events Market:** Launch of markets based on real-world events, such as the US presidential election, enabling users to trade on the outcomes of significant global occurrences, merging traditional event betting with crypto trading. **AI-Powered Dynamic Dual Staking** * **AI-Optimized Staking:** Leveraging artificial intelligence to optimize staking strategies, providing users with dynamic dual staking options that adjust according to market conditions and performance metrics, maximizing staking rewards and efficiency. **B2C Platform Enhancements** * **Token Management for Projects:** Developing a suite of tools and services designed to assist projects in managing their token economics and expectations in the early phase. This B2C (Business-to-Customer) initiative will provide projects with flexible and robust mechanisms to optimize their token distribution, valuation, and market presence.