The benefits of interacting with BIOPset.
BIOPset provides a trustless binary options trading solution for traders (or speculators). It is the first binary options platform to offer instant access and no holds on speculator funds. As soon as a trader's options are valuable (or in-the-money), they (as a "settler") can exercise their claim and receive ETH directly to their wallet without having to depend on another party.
A trader's worthless options accrue to the liquidity pool (aka "house") to the benefit of the counterparty of writers (or liquidity providers).
Options writers with BIOP tokens become investor-owners and act as house. This provides a benefit rarely observed in centralized binary options trading platforms.
Every interaction with the BIOPset platform earns BIOP tokens during the utilization rewards period. BIOP rewards may be sold or staked for their voting power.

While every user will initially receive BIOP rewards, each participant stands to gain something financially for their participation in BIOPset. BIOPset ensures that the following four stakeholders are properly recompensed:
  1. 1.
  2. 2.
  3. 3.
  4. 4.
Governors always retain the right to determine exactly how each stakeholder is compensated for their activities.

Traders (or options traders) are actively buying binary options. They can potentially double their wealth if they speculate correctly on price direction.
Traders can also be settlers (see below).

Writers (or options writers) are passively selling binary options in a pool with other sellers. They are BIOPset's market makers (or liquidity providers). Liquidity providers earn very competitive yields for market making (options writing).
Writers can also be settlers (see below).

Settlers receive risk-free fees for providing their services. The default amount is 0.2% of the option's value. Consequently, any settler could potentially earn $2K USD for exercising/expiring a million dollar position.
Settlers act on behalf of the options trader by settling in-the-money options. They intervene on behalf of the liquidity provider by settling out-of-the money options.
Anyone (human, bot, or artificial intelligence) with a wallet and sufficient gas can be a settler.

Transaction fees are presently set to 20 basis points (0.2%) and those proceeds accrue to the treasury of the Settlement DAO. Governors control the funds in the Settlement DAO treasury. They may also elect (through vote delegation) to distribute a portion of those fees directly to token holders willing to stake BIOP tokens.
Governors manage the treasury and are responsible for fine tuning BIOPset parameters to ensure a reasonable yield for liquidity providers. They can elect to be incentivized for growing the number of users of the platform in the longer-term.
Traders, writers, and settlers can all participate in governance initiatives by holding BIOP tokens. They may also use that voting power to endorse smart contract changes that they feel improve the protocol.
It is highly recommended that voting power only ever be use to endorse pre-deployed audited smart contracts making the desired change instead of delegating to a human's address. Please read more about endorsing contracts here.
Endorsing Contracts
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