Kyan

Kyan began as version 4 of the options protocol Premia and, after the rebrand, became a comprehensive decentralized derivatives platform offering options and perpetual swaps under a single portfolio-margin account. Unlike earlier versions built on AMM liquidity pools, Kyan switched to a central limit order book with support for fill-or-kill, immediate-or-cancel, market and limit orders, aiming for low latency and zero-gas trading, while large trades are routed through an RFQ module directly to professional market makers with confidentiality. The Combo Trades multi-leg builder packages spreads, straddles and other combinations into a single atomic transaction to eliminate partial-fill risk.

For liquidity, market makers can use Range Orders to concentrate capital in specific price bands, creating concentrated liquidity against option premiums; users staking PREMIA receive vxPREMIA, which shares protocol fees and votes on liquidity mining incentives, and the contracts have been audited by Hacken and SolidState. In October 2026 several options DEX research pieces listed Kyan as a representative project in combining on-chain options with centralized-grade performance; the legacy Premia Blue (V3) has halted liquidity emissions and development, with the team fully focused on Kyan.