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Change is the only constant at BIOPset. Photo by Ross Findon on Unsplash

Summary of Recent Protocol Level Changes

  1. Writers are the liquidity providers selling on-demand binary options.
  2. Traders are the options buyers speculating on price directions.
  1. Governance is live.
  2. BIOPset will defend writers.
  3. BIOP tokens will not receive any fees.
  4. BIOP V4 tokens will be sold to the public via audited IBCO contracts.
  5. The BIOPset UI will be improved for V4.


Originally, the goal was to implement governance after the platform went live. This is no longer the case. The need for governance is immediate. Protocol design is now a community affair.

House Rules

There was fierce debate about not favoring writers over traders. The argument for making BIOPset a neutral binary options settlement platform was defeated.

Pure Governance Token

Initially, BIOP V4 tokens were to receive 0.2% of BIOPset’s trading volume (a platform fee). Unfortunately, some members of the BIOP community that are very active in development discussions live in the United States of America where the Securities Exchange Commission would consider the selling of a governance token with a revenue stream as the selling of a security. [1]

Audited Contracts

Another spirited debate about the value of conducting the IBCO using audited smart contracts transpired. Even though audits slow everything down and do not guarantee anything other than an assurance that the code has been reviewed by professional coders (that rigorously check for bugs) the BIOP V4 IBCO code will be audited nonetheless.

New User Interface

A new interface and logo are being developed. More news on that decision and the progress will come later. The user interface is still considered a very low priority issue.

The U.S. Supreme Court has defined “profits” as “either capital appreciation resulting from the development of the initial investment . . . or a participation in earnings resulting from the use of investors’ funds.” The promised return may be fixed or variable and may be marketed as low-risk or “guaranteed.”



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

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