# Prologue

*The **Binary Options Settlement Protocol**,* [*BIOPset*](https://biopset.com/)*, is an audited, on-demand, censorship-resistant, peer-to-pool protocol for transparent binary options trading.*

*The platform essentially provides liquidity providers ("**options writers**") with passive returns and empowers speculative traders ("**options holders**") to profit from forecasting the direction of asset prices.*

*The protocol is governed by a decentralized autonomous organization ("**DAO**") called the **Settlement DAO**.*

## Document Revision

The latest version (**BIOPset Version 4**) allows traders to speculate on the [price of Chainlink tokens](https://www.coingecko.com/en/coins/chainlink) (or **LINK**) going up or down.

**These are the official documents as of April 21st, 2021**.

If you have any questions or concerns after reviewing this documentation, please join the discussion on [Discord](https://discord.gg/4SRYBNdE3r).

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If there is anything unclear or out of date, please submit a [pull request](https://github.com/munair/biopset-documentation/blob/main/WELCOME.md).