Buffer Bi-Weekly Update

Hi @everyone! The Team has been busy working on several features and developments.

Some key updates from the team recently:

1) $iBFR Call Booster and DDOV live!
For more info on how the Buffer Dynamic Decentralized Options Vaults (DDOV) work, check out the article below:
https://buffer-finance.medium.com/introducing-buffer-ddov-d32eb109557a

2) Announced partnership with Solv Protocol to enable the minting of options as semi-fungible NFTs.
This allows options buyers to use NFT marketplaces as a secondary market to buy, sell, and auction option positions. More on this partnership here:
https://medium.com/solv-blog/solv-buffer-a-financial-instrument-targeting-the-options-market-option-voucher-150dc7449380

And you can hear from our co-founder Feynman discussing these new options vouchers here on the Solv Community Call:
https://www.youtube.com/watch?v=fNlMO7YfLkM

3) Appointed @HL_Lysis to the position of Social Media Manager for Buffer Finance
We’ve already been busy planning lots of content to promote Buffer to new users and provide educational content and resources to grow user adoption as the platform develops. Our new subreddit is live today too so please check it out!
https://www.reddit.com/r/bufferfinanceofficial/

4) Opened our Community Feedback and Suggestions form
This is to collect as much feedback from our community regarding potential strategies to promote the project and general feedback on the platform itself. If you haven’t had a chance to fill it in please take a few moments and let us know your thoughts!
https://docs.google.com/forms/d/e/1FAIpQLSfKB2MjkLclILaMyTiyvzYaAAZdBnezsjWQ7aHkZ8jsEZD1Iw/viewform

Thanks Buffer fam and hope you have a great week!

📢Buffer Bi-Weekly Update!

Hi @everyone!

We hope everyone in the Buffer community is doing ok. We understand that the times are challenging considering the rocky macro market conditions. The winter feels chilly, but don't forget that crypto has existed through several winters, and it has come out stronger every day. We believe this cycle will be no different. So don't forget to zoom out and WAGMI.

Here at Buffer, your team is doing what we do the best - Building. We've been focused on implementing the V2.0 flagships (you already know of one, and we're just getting started).

Let's look at the progress made so far:

1) Dynamic Option Vaults are now live on the Aurora Network!

Our DDVOs have already been deployed on Aurora Network. Deploying on Aurora was strategic considering the bolstering economy of traders and LPs on the network. Not to mention Aurora is one of the hottest chains today, offering 1 sec block time and 0 txn. costs.

We've announced the event on both the Buffer Finance and Aurora Network Twitter accounts!

Don't forget to show your love, anon by Liking, tweeting, or commenting!
Check it out 👇

👉https://twitter.com/Buffer_Finance/status/1528801913906819072
👉https://twitter.com/auroraisnear/status/1529069710486097921

2) Implemented UI/UX updates to the Buffer app interface

Improving user experience and intuitiveness on the dApp is a constant endeavor. Following that, we recently added the following tracking/analytics tools on the dApp:
✅ TradingView charts
✅ ROI-Expected Price Charts for the Call Boosters
✅... and several more tooltips to help you navigate better

Here are a few key tasks that we're working on and hope to share with you all soon:

1) Buffer Prime NFTs Announcement
2) Development of KPI options and other exotic options
3) Project partnerships for launching DDOVs for other projects

Thanks for tuning in Buffer fam. Hope you have a great week! 🙏

📣 !Attention Buffer Fam! 📣

We are excited to announce the launch of our Buffer Prime Club NFT collection! 🎉

To get you started we've published an article covering all the important details of this upcoming milestone for our project!

You can find it here:

https://buffer-finance.medium.com/introducing-buffer-prime-nft-club-758e9b2b4e17

Some key features of our NFTs are:

- limited to 9999
- core utility in platform governance
- benefits for holders when using buffer.finance such as reduced settlement fees (or even 0 fees!) and discounts on options
- access to private discord and telegram (BufferPrime)
- freely tradeable on https://tofunft.com/collection/buffer-prime/items

Stay tuned for details on minting schedule coming very soon! 👀

👋Hey Buffer Community

🚨The countdown clock has begun!🚨

Less than 2⃣4⃣hours to the launch of Buffer Prime Club #BPC!

Our latest blog post sheds more light on the intrinsic details & mechanics of the BPC!

In case you missed it, learn more👉 Here! https://buffer-finance.medium.com/introducing-buffer-prime-nft-club-758e9b2b4e17

👋Hello Buffer Community

🚨1 hour to go for the launch of Buffer Prime Club!⏱️


Will the apes 🐵and the frogs🐸 come together to bag DeFi's first options governance #NFT?

Are you ready to fill your bags?

👋Hey Buffer Community,

🥁......and the wait is over folks!
Buffer Prime Club is LIVE now!

🔥Go mint your rare BPCs, here🔽 https://app.buffer.finance/BSC/NFT-page

🔥or buy on @tofuNFT, here🔽 https://tofunft.com/collection/buffer-prime/items

Hi @everyone, as you might have noticed, there was a significant drawdown in the BNB liquidity pool because of some put options bought after the AMZN 1:20 stock split announcement. We rely on chainlink price feed which currently provides only price feed and not the floating market cap for these stocks.

Our general measure to prevent the pool from the stock split is to pause option trading for a particular stock as soon as the news is announced. Now it’s clear this won’t work as the platform scales to multiple assets and potentially many more users.

As a cautionary measure, we have paused all stock options for now. We will be looking into a possible rebate structure after considering net APR, including $iBFR rewards.

Again just to re-iterate, all the contracts are working fine, and there were no exploits or security issues. We are in touch with the Chainlink and Flux team to get market cap feed instead of price feed, which looks like a practical and scalable solution to this problem.

PS: Rebate structure-related calculations and details will take at least a week to be announced. Meanwhile, $iBFR emissions are still ongoing for liquidity providers, and all contracts are working except stock options. Also, we will be announcing more exciting updates regarding our upcoming DAO2DAO services and V2 launch plan. So stay tuned!

👋Hey Bufferians,

The final rebate structure for wallet addresses affected during the BNB drawdown on 7th June 2022 that occurred due to an Amazon stock split is ready,

As we mentioned in the original announcements, all Buffer smart contracts and operations are working smoothly, and the system is healthy as ever. It was noted while conducting a post-mortem of the drawdown that it was identified that the following 6 put options transactions caused the incident. View the full list👉 Here!

As such, only those transactions pertaining to these 6 options are being considered for rebate.

Rebate mechanics:

✔️First, all wallet addresses that withdrew more BNB, relative to the amount of BNB deposited before the exercise of the 6 options mentioned above, were removed.

✔️Only those wallet addresses that lost a portion of their BNB deposit because of the 6 mentioned transactions were considered for rebate;

✔️All iBFR rewards distributed by the staking pool were then subtracted from the loss to estimate the net BNB loss (the exchange rate for iBFR is taken as 11500 iBFR/BNB to establish the net BNB loss)

The exact values and calculation of the net BNB loss can be found in the sheet👉 Here!

Finally, here’s what is included in the rebate structure:

✔️2 silver Buffer Prime NFTs worth 1 BNB collectively

✔️$iBFR vested over 18 months with a value equivalent to net BNB loss (After deducting the NFT value of 1 BNB)

✔️The exchange rate taken for $iBFR to match the net BNB loss is 11500 iBFR/BNB

Rebate will be claimable starting 15th July 2022, and iBFR vesting will be started on retrospective basis from 7th June 2022. In case of any queries regarding the rebate or the incident in general, you can write to us on any of the official Buffer socials. And last but not least, thank you for your patience and support during the incident and as we took the time to mitigate it!

👋Hello Buffer Community,

Buffer Finance V2 Testnet is LIVE!
Get your strategies ready & Place your test trades👇

☑️Polygon Testnet👉 Here (https://testnet.buffer.finance/POLYGON/binary/ETH)

☑️BSC Testnet👉 Here (https://testnet.buffer.finance/BSC/binary/BNB)

🔘Report your bugs 👉 Here! https://forms.gle/8AJt8bc7R15UgCA99

What's Upcoming?

🌟Incentivised Testnet:
We're currently working on the leaderboard for the testnet!
Once ready, the testnet will be INCENTIVIZED!

🌟Avalanche Testnet coming soon.
Expected time: 2 Weeks!

🌟V2 white paper with more detailed info on the mechanics & new features coming soon!

🚨 Update on Rebate 🚨

Hi everyone rebate tokens can be now claimed via our vesting page
https://app-v1.buffer.finance/vesting

🔸 Also as we are moving from V1 to V2 as the first step we have paused liquidity rewards for rBFR stakers.

You can now withdraw your rBFR and take out your BNB from the liquidity pool
1️⃣ https://app.buffer.finance/BSC/staking (Harvest & Unstake rBFR)

2️⃣ https://app.buffer.finance/BSC/liquidity (Withdraw your BNB)

📢Buffer Bi-Weekly Update!

Hi @everyone!

We hope everyone in the Buffer community is doing ok - we know the markets have been hard but we’re happy to let you know we’re still working hard behind the scenes, building and delivering on our vision for the Buffer Finance protocol. Our bi-weekly updates are back and we’ll continue to keep you informed as we go on this journey together.

As many of you know we’ve been busy building the Buffer V2 features and below is a quick update on what’s been launched recently and what’s coming up soon:

1) Buffer Finance V2 Testnet is live!
Some of the new features for Buffer Finance in the V2 update:
✅ Highly capital-efficient with protocol-owned liquidity
✅ Place all your orders with $iBFR
✅ Place trades as yes/no statement (simplifies the user experience)
✅ Gamified interface with Odds and probability
✅ Enhanced composability and new opportunities with #DDOVs
✅ Buffer Prime Club & #NFTs for exclusive benefits & market insights to holders
✅ Smoother & more intuitive UI

The full V2 features will be rolled out in the coming months, but please help us out by using and testing the new updates on Testnet and letting us know about any bugs or issues.

Don't forget to show your love for our transition to the Buffer Finance V2, anon, by Liking, tweeting, or commenting!
Check it out 👇
👉 https://twitter.com/buffer_finance/status/1545075274945122305?s=21&t=jWpD_oog8VFT6WB_xpMzHA

2) Buffer Prime Club NFTs
What is Buffer Prime Club?
Buffer Prime Club is a collection of 9,999 multi-chain NFTs generated entirely on-chain.
A quick overview:
• Directly participate in Buffer’s future development and growth
• Ensuring non-speculative governance by preventing pump & dump in the secondary market
• Buy/Sell the voting NFTs just like any NFTs
• More secure and progressively decentralized governance
• Truly tangible voting rights

🌟And here’s the exciting bit:
Buffer Prime Club NFT is divided into 4 tiers. Besides voting rights, each tier unlocks exclusive benefits for users.

For more info on the Buffer Prime Club NFTs check out our Medium article below:
👉https://buffer-finance.medium.com/introducing-buffer-prime-nft-club-758e9b2b4e17

The team is continuing to build away on a number of key items that we'll be sharing with you all soon:

1. Incentivized Testnet with leaderboard

2. Development of KPI options and other exotic options

3. Project partnerships for launching DDOVs for other projects

Thanks for tuning in Buffer fam. Hope you have a great week! 🙏

📢Buffer Bi-Weekly Update!

Hi @everyone!

We hope everyone in the Buffer community is doing well - it’s been great to see markets slowly coming back to life and hoping it’ll be an exciting few months coming into the end of 2022! The team are working hard behind the scenes, building and delivering on our vision for the Buffer Finance protocol.

As many of you know we’ve been busy building the Buffer V2 features and it’s the primary focus of our development efforts at the moment. Below is a quick update on what’s coming up soon and we’re looking forward to sharing some more announcements about Buffer V2 with you shortly:

1. Incentivized Testnet with leaderboard - 📢 announcement coming soon!

2. Quick and OTC options (currently in internal testing)

Don't forget to check out the Buffer V2 testnet and test out the new features - we’re always keen to get user feedback and receive any bug reports. All links in the Twitter post below:
👉 https://twitter.com/buffer_finance/status/1545075274945122305?s=21&t=jWpD_oog8VFT6WB_xpMzHA

Thanks for tuning in Buffer fam. Hope you have a great week! 🙏

📢 We are thrilled to announce V2 incentivized testnet will be live on
@0xPolygon in <24 hours ⏰

Details👇
☑️ Duration: 2 weeks
☑️ Venue: http://testnet.buffer.finance
☑️ Start time: 19th August 17:00 UTC
☑️ Reward pool: 100,000 $iBFR

💰Rewards for lowest PnL 📉as well

Link for further details - https://bit.ly/3Awb6W0

@everyone Because of the sudden surge in bot spamming we have decided to pause Testnet for now and directly restart the next batch on the 26th of August at 5:00 pm UTC. For this week only trades till 24th August at 5:00 pm UTC will be considered.

1. We will limit USDC claims to once at the start of the competition and all claims will be verified via Twitter RT.
2. Also a new scoring mechanism is worked upon which will completely dis-incentivize spamming bot activity (These spam bots are the reason for the current low performance of our exercise bot)

Again we are not trying to stop bot activity or automated trading. But spamming just because there is zero cost in using Testnet will disincentivize actual traders (who place independent trades based on price movement).
All spam bot scores will be completely removed retrospectively from the leaderboard.

Thanks to everyone who participated in this batch of Testnet - the UX and rewards will just gonna get better in the next batch so stay tuned!

👋Hello Buffer Community,

V2 Incentivized Testnet (Week #2) is now LIVE on Polygon Testnet!📢


✅ For week 1
1.We will be rewarding the top 7 scorers and least scorers.
2. Least scorer reward will be discontinued for Week 2.

You can check previous weeks winners via the below link
https://testnet.buffer.finance/POLYGON/leaderboard/1/incentivised


What’s new?
✅USDC Faucet:
- USDC claims can only be made once at the start of the competition;
- Verification via tweeter is required for the claim
- Claimed USDC tokens cannot be transferred from one wallet to another

✅Leaderboard Scoring:
- The total token minted will be considered the base for leaderboard scores.
- Total token balance at the end of the tournament will be divided by the total minted tokens
- No reward for the lowest scorer this week
- You can directly check the score on the leaderboard

Details:
Venue: https://testnet.buffer.finance
Duration: 1 week
Date & Time: August 26th at 17:00 UTC to September 2nd at 17:00 UTC
Reward Pool: 50,000 $iBFR (Top 10 winners)

Ready to place your best trades, anon?

Guide to get started👇
https://buffer-finance.medium.com/guide-how-to-trade-on-buffer-v2-testnet-23213b475369

@everyone week-2 of the incentivized Testnet has officially ended.

Congratulations to all the winners, we will be airdropping $iBFR tokens to the winners' wallets on the BSC chain in the coming week.

Also, stay tuned for more incentivized testnets and other competitions. Announcements coming soon!

👋Hey Buffer Fam,


BIP 01, Buffer's first snapshot proposal is live, giving decisional power to the community.


Summary: Migrating iBFR tokens (on BSC) to $BFR tokens (on @arbitrum)


Vote today, here👇

https://snapshot.org/#/bufferfinance.eth/proposal/0x11b63c7426bec31adca8b51fb132da719247404982ae82b298e853c9ce180a8e

Link to Buffer Space - https://snapshot.org/#/bufferfinance.eth


How to vote?

1️⃣Go to snapshot link above

2️⃣Connect your MetaMask wallet and switch to BSC Mainnet.

3️⃣Select the "Token migration" proposal

4️⃣Vote "Yes" or "No."


Starting now, the voting period will last 5 days.


Once the voting period is over, we will announce the outcome.


If the proposal is approved, we will share additional migration details and a guide on how to migrate your tokens.


The decision-making power rests with the community now, so whether or not these proposals go through is up to the vote!🙏

👋Hello Buffer fam!
📢Buffer v2 is now live on Arbitrum Görli Testnet!

This is the moment you have been waiting for!

✅Check it out, here👇
https://testnet.buffer.finance/ARBITRUM/binary/BTC

✅Instructions on how to get started, here👇
https://bit.ly/3QXH8z0

Stay tuned for more details on migration after the voting period ends tomorrow!

👋Hey Buffer Fam,

Voting for BIP-01 is now closed.

The proposal to migrate iBFR tokens (BNB chain) to BFR tokens (Arbitrum) has passed with 96.56% YES votes!

We appreciate the support of everyone that voted and took part in the discussion!🤝

Stay tuned for migration details!

Hi @everyone,

We will be officially starting the migration process from BNB chain to the Arbitrum chain today.

You can check out the details on how to transfer your tokens to Arbitrum here.
https://buffer-finance.medium.com/ibfr-to-bfr-token-migration-is-now-live-b8bc1e46452b

Key things to note
1. You get 1 $BFR token for 1 $iBFR token (so no value dilution)

2. You can transfer tokens to the main deployed contract directly via this like - https://app.buffer.finance/BSC/migration

3. If your tokens are under vesting you can claim the unclaimed tokens here - https://app-v0.buffer.finance/vesting

4. If your tokens are unvested - then you need not do anything; same vesting schedule will be started on Arbitrum

5. You will start receiving $BFR tokens on Arbitrum in the same wallet within 72 hours of transferring from the BNB chain

6. Arbitrum $BFR contract address will be announced after deployment on all the social channels

👋Hey Buffer Fam,

We're happy to present you with the newest development in the Buffer ecosystem – The New and Improved UI.

What's new?
✅First, the landing page has been completely refactored to be more intuitive. We have aligned it with the recent developments on Buffer V2, including the upcoming launch on Arbitrum.

✅Secondly, we added a Practise Trading Page. You can now play with your trades risk-free. The practice trading page is especially useful for beginner traders, allowing you to make mistakes and experiment with different strategies with zero risk.

Check it out here👇
https://buffer.finance/

We look forward to your feedback and suggestions on improving it further!🙏