Published in


Reconstruction. Photo by Barthelemy de Mazenod on Unsplash

Code Rework

Discretionary Funds

The funds available at the time of making a final decision on reconstructing the contracts were as follows:

  • Options Liquidity: 100 ETH (~$219,000) [1]
  • Marketing Communications: 25 ETH (~$54,500)
  • Website Enhancement: 4.5 ETH (~$7,000) [2]
  • Deployment: 3 ETH (~$6,500)

Reprioritizing Initiatives

Since the reconstruction of the smart contracts would cost more than discretionary funds available, initiatives were reprioritized and funds reallocated to:

  1. Cover contract reconstruction costs.
  2. Maximize options liquidity.
  • Options Liquidity: 100 ETH (~$176,200)
  • Contract Safety: 35 ETH (~$61,670)
  • Deployment: 3 ETH (~$5,286)

Protocol Launch Timeline

The smart contract rewrite will take eight weeks. Testing and frontend integration will commence as soon as possible in parallel.

Further Reading

To learn more about BIOPset, please consider reading:

Additional Links

Please reach out and keep in touch:



The on-demand, censorship-resistant, peer-to-pool binary options settlement protocol.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store