Premium & discount, explained

How the number on every asset page is calculated.

Premium is the percentage gap between a token's on-chain trading price and a reference price for the real underlying asset, in basis points (100 bps = 1%). A positive premium means the token is trading above the real asset's price; a negative one (a discount) means it's trading below.

Premium is only ever shown for tickers with a reference price actually configured — a blank premium means the reference price isn't wired up yet, never a silent zero.