This section provides details on who the users are in Scholes and what their functions are
The three types of users in the Scholes ecosystem are: underwriters, keepers, and traders.
Underwriters deposit collateral into their collateral vault and can mint options in the Scholes ecosystem against this collateral. At contract expiry, underwriters are able to claim any collateral within their collateral vault.
Underwriters interact with the collateral vault contract and the options pool contracts.
Traders can buy and sell long options positions in the Scholes liquidity hub. They are also able to claim options value owed to them (based on intrinsic value of contracts held) at options expiration.
Buyers interact with the options pools contract, the options aggregation contracts, and the underwriter collateral vault contracts.
Keepers are players in the Scholes ecosystem who monitor collateral vaults for liquidations and begin the liquidation process when LTV of underwriters is ≥ 65%
. Keepers also call the Black Scholes pricing module to update the option references prices to determine underwriter health in the Scholes Protocol.
Keepers interact with the Collateral Vault contract, the Risk Management Module contract, and the Black Scholes pricing module contract.