Assuming in one week PM assets can be cleared to reuse. [some input and info from
@xeroc will be highly appreciated]
example is for BTC binary option series, but the same applies to every market (currency, index whatever)
The committee buys:
BTC_Monday1percent, BTC_Monday2percent, BTC_Monday3percent etc..
BTC_ Tuesday1percent, BTC_ Tuesday2percent, BTC_ Tuesday3percent
and so on for each day of the week
those are PM (aka binary option) assets, the backing asset is bitUSD.
The witnesses are set to be the one settling the asset. They publish once a day the price at close (the price is taken from whatever the contract states at time 3:00PM Eastern or whatever)
The contract is a call binary option with strike: 1% (2%, 3% as per the name of the asset) percent above yesterdays close..
SVK displays them in the GUY as real prices (using the last publish close price) , not percent above yesterday's close.(!!!Optional!!! and does the borrow sell in one step aka hides the borrow step from GUI view)
You have the first BTS killer app (well maybe the first of many) . Overtaking over the binary option markets.