Jan 8, 2021
BIOPset Introduction
2021 is here, what can you expect from BIOPset? Before we get to the details here the TLDR:
- BIOPset is a on-chain pool-to-peer binary option trading protocol.
- Contracts are based around the ERC1155 standard
- Trading can occur on multiple currencies, all trades settle in ETH.
- Read till the end to find out how to qualify for early adopter rewards
Fast RoadMap
Q1 2021: BIOPset v1 protocol deployment
Deployment + 2 weeks: Liquidity lock requirements loosen and early adopter incentives are distributed
Q2 2021: Governance launch, all ownership is transferred to governance contract.
Q3/Q4 2021: Newly empowered governance users hold full control of protocol direction. First order of business, adding more trading times.
V1 Features: 3 ways to earn
- 🏦 Stake ETH and Receive Pool Rewards.
- 👷♀️ Exercise/Expire Options
- 🎰 Buy Binary Options
Governance Initially Controls:
- 💰 Fees.
- ⚖️ Available Trading Pairs.
Primary Goals Of BIOPset:
- Low gas costs
- trustless architecture
- fairness & reliability
✈️ Early Adopter Incentives
The select few, exclusive users, given first access to BIOPset will receive complimentary governance tokens. The governance token is called $BIOP.
Refer to the chart above for distribution details here are the definitions:
Bonding Curve Distribution: Offered by the governance protocol, collected ETH from sales is staked automatically in BIOPset, rewards are distributed among governance members.
Long Term Protocol Rewards: Dripped out to protocol users for usage at a slower rate, used to encourage involvement with governance. Self claimed by users and rewarded for protocol usage, 10% of early adopter reward scales described below.
Early Adopter Rewards: These Tokens Are distributed to the first X users based on type of interaction(X will be announced 𝓼𝓸𝓸𝓷).
Dev Fund: Set aside to fund future improvements to BIOPset and reward contributors.
How To Qualify For Early Adopter Rewards:
Early adopters will receive rewards based on their interactions with the protocol in the very beginning.
Starting from launch users will be given a % of total Early Liquidity Rewards for completing actions: 0.08% for staking 2+ETH(0.02% for other LPs), 0.04% for buying an option greater then gas cost, 0.02% for exercise/expiration services.
Rewards are available to early adopters on a self claim basis.
Happy Gambling!
Everything is subject to change until contracts are on mainnet. Want to help make these decisions? Join us on discord: https://discord.gg/jw2RC4858e
