A summary of BIOPset and its users.
BIOPset is the world's first on-demand, peer-to-pool, decentralized binary options trading protocol. It is built on the Ethereum Network to ensure censorship-resistance and governed by BIOP tokens in the Settlement DAO.
Shalaquiana is the pseudonymous founder behind the initial version of the BIOPset protocol.

BIOPset caters to the following classes of stakeholders:
  1. 1.
  2. 2.
  3. 3.
  4. 4.
The first two stakeholders are counterparties to decentralized binary options. The second two stakeholders make and fine-tune the execution of the protocol.
Counterparties take opposing sides of an options contract. It is impossible to buy derivatives (like binary options) without a counterparty willing to sell it.
Every participant stands to gain something financially for their interaction with the protocol.

The purchasers of binary options are called options traders (or just traders) in BIOPset nomenclature. These binary options buyers (or "options holders") are actively speculating on the direction of price movements. Traders are the principal users of the BIOPset platform.
Traders (or options buyers) are active participants in the BIOPset trading protocol.

The vendors of binary options are called writers in BIOPset nomenclature. These binary options sellers (or "options writers") are counterparties to binary options buyers.
In BIOPset, writers pool their funds together to function as passive counterparties to traders. They are also called liquidity providers (or market makers).
Writers (or liquidity providers) are passive users in BIOPset.
Although BIOPset's infrastructure primarily provides a service to binary options buyers, it is the passive pool of options sellers that provides the liquidity required for the service to work. They are like vendors that set up a shop and bring a market to life.

Settlers are humans (or bots) that facilitate the realization of a gain for either the trader or writer.
They intervene on behalf of the options trader by settling in-the-money options. They intervene on behalf of the options writers by settling binary options that have become worthless.

Anyone holding BIOP tokens is automatically a governor. Governors are responsible for fine-tuning BIOPset parameters to ensure a reasonable yield for liquidity providers.
Liquidity providers need not be governors and vice versa.
Ideally, governors are also liquidity providers. This aligns with shorter-term and longer-term incentive structures.
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