Hey Buffer Fam👋

As a final reminder to users holding $iBFR tokens in their wallets, staked or locked on BNBchain, please migrate all your $iBFR to $BFR tokens on Arbitrum.

The migration will end on Oct. 26th, 2022, at 12 AM UTC.⏰

$iBFR holders are entitled to change their $iBFR to $BFR on a 1:1 basis.

No migration will be possible after Oct. 26th, 2022 (12 AM UTC).

📑Migration guide👉 Here!

Note: the iBFR to BFR migration for iBFR tokens bought on DEXs has already ended, and a snapshot for the same was taken on Oct. 20th at 3:30 PM UTC.

You can find the record of that👉 Here!

The updated $BFR tokenomics and release schedule will be shared once the final migration is over.

🔈Everyone!

Trading and emissions for $BLP stakers has been stopped for now!

We are seeing a lot of Panic among liquidity providers with the volatility in BLP exchange rate. Although trading revenue has been surging we have decided to halt trading right now and shift to protocol owned liquidity and distribute 70% of the collected revenue to BLP holders (details of the snapshot and mechanism will be released in a few hours)

Thanks for being an early adopter we plan to resume trading with POL in a few days or so. And meanwhile increase USDC emissions for $BFR stakers as well.

Thanks again for the patience!

@everyone here's the list of all liquidity providers who added liquidity to the USDC vaults

1. LPs who exited at a higher exchange rate made a total gain of 1,130.29 USDC
2. LPs who exited or are holding liquidity at an exchange rate less that at which they entered made a loss of (116,063.20) USDC
3. The BLP has received 65,879.00 USDC in Revenue which is 56.7% to cover up the LPs who are at loss.
4. Remaining PnL will be filled with the esBFR bonus (Which was anyways part of the APY)

You can check individual wallet addresses with their PnL using the below link
👉 https://bit.ly/3VXy4hx

Honestly, we think revenue could have taken care of the BLP exchange volatility, and hence the APY was high. But there might be some communication gap from the side of the team and the liquidity provider started panicking + It's a mainnet BETA so we decided to tweak trade size, and max-utilization based on the week's trading data; nonetheless; we will move to POL and restart trading in next 24 hours - we will be updating how the new POL will look like and what benefits it brings to $BFR holders in a few hours.

@everyone

Revenue distribution details have been updated in the revenue distribution Tab. esBFR compensation has been frozen at $0.29 which is VWAP based on 4h price candles since the time $BFR has been listed on Uniswap Arbitrum.

It has both USDC and esBFR amounts to be sent to the holders who are at loss because of BLP volatility.
👉 https://bit.ly/3VXy4hx

Both USDC and esBFR will be sent to your wallet - you can visit the earn page to vest or stake your esBFR tokens
https://app.buffer.finance/ARBITRUM/earn

We will make another announcement when the distribution is complete thanks for keeping patience - stay tuned! for POL and Trading updates.

USDC and esBFR are now complete! POL details coming next

📢Trading is Back up on http://app.buffer.finance

➡️ Seed funded POL to make market
➡️ Max trade size 0.3% of the available POL
➡️ $BFR staker revenue share increased from 30% to 40% 💰💰
➡️ Max pool utilization limit 10% of available liquidity

👋 Hi Buffer Fam,

Join us on Discord on our discussion regarding growing POL to support bigger trades.

https://discord.com/channels/842093373082959952/1035526445205823528/1035526445205823528

📢 @everyone , esBFR OTC pool is closed for investment. The token deal is now Live!

Deal Info
Exchange Rate
- 6.6667 esBFR-IOU/ $USDC
- 0.15 $USDC/ esBFR-IOU

⏱Timeline: Participants have 24 hrs until Nov 13, 2022, at 6:12 AM UTC to accept or decline the deal.

Next steps:
1️⃣ Head to the esBFR OTC Deal 👇
https://app.aelin.xyz/pool/arbitrum/0x08703a9167a05c99eeb7f9c523a2b073fbc0f28e

2️⃣ Choose to either accept or decline the deal terms

👉If you accept:
- You will receive esBFR-IOU, which you'll have to hold in your wallet.
- Once the deal period is over, the equivalent amount of esBFR to esBFR-IOU be credited to your wallet.

👉If you decline:
- You will receive your $USDC investment back

PS: esBFR-IOU is not the same as esBFR you will receive esBFR once the deal period is over (Nov 13, 2022, at 6:12 AM UTC) straight in your wallet

@everyone Our $esBFR OTC deal has ended.
We want to thank all the participants for the trust and long term commitment towards BufferFinance! 💙🧡

Results:

$USDC raised: 67,408.44
$esBFR sold: 449,392.60

Please vest your tokens here 👇

app.aelin.xyz/pool/arbitrum/0x08703a9167a05c99eeb7f9c523a2b073fbc0f28e

👋Hey Buffer Fam,

Our #1 resolution for 2023 is to scale user onboarding & protocol development!

But why wait for the year to end when we can start NOW!

Our $BFR OTC pool on @Super_Launcher opens on Dec 16!

OTC pool opens on Dec.16, 2022, & closes on Jan 15, 2023.

Investment:
$BFR sale price: 40% discount from the spot price

Deal tokens:
👉40% esBFR (2 million esBFR) at 12-month linear vesting
👉 60% BFR (3 million BFR) 6-month cliff, 12-month linear vesting

Usage of generated funds:
✔️ User onboarding
✔️ Protocol development (as illustrated in the upcoming roadmap)
✔️ To support larger trade sizes and higher trading activity

OTC details👇
https://superlauncher.medium.com/buffer-finance-otc-sale-on-superlauncher-v3-67539bb6eb84

Hey Buffer Fam,


BLP is LIVE with new parameters for optimized risk management & pool stability.



Best part?

POL is not going anywhere; instead, it's been added to BLP to power bigger option trades!👀



Learn all about the new BLP👉 Here! https://buffer-finance.medium.com/introducing-blp-v2-779a24bc4dbe



Wait, there's more…

On top of a complete audit by @sherlockdefi, we've purchased a policy of $2M on Sherlock to protect Buffer users from smart contract exploits!



Deets👇

https://app.sherlock.xyz/overview

🔈 Refund has been processed for all those who participated in the BPC NFT sale on the BNB chain. ✅

If you haven't received the refund please DM the admins with your wallet address.

We're back with an update on trading:

✅ Crypto trading has been optimized & is now live again!
https://app.buffer.finance

🏗Forex trading has been temporarily halted due to data provider issues.

Dev team working on resolving the issue promptly.  Will keep you posted on any developments as it gets resolved!

Apologies for the inconvenience caused 🙏

@everyone

Attention Buffraders,

Buffer Trading competitions are back & this time they're BIGGER & BETTER!

Starting today at 16:00 UTC, the contest mode has been changed from daily to now weekly competitions!

Weekly prize pool:
💰Total USDC reward pool: Fixed prize of 1K USDC + 5% trading fees collected per trading cycle 👀
🐙7 Optopi NFTs

More deets:
Trading cycle: Monday 16:00 UTC to next Monday 16:00 UTC

🏆Winning criteria:
20 winners for every trading cycle with
- Category A:  Top 10 traders with the highest absolute payout
- Category B: Top 10 traders with the lowest absolute payout

(Total Absolute PnL = sum of all individual trade’s PnLs

Reward distribution:
Category A:
◾️Rank #1: 20% of the USDC Pool + 1 🐙 NFT
◾️Rank #2: 5% of the USDC Pool + 1 🐙 NFT
◾️Rank #3: 3.125% of the USDC Pool + 1 🐙 NFT
◾️Rank #4 - #10: 3.125% of the USDC Pool

Category B:
◾️Rank #1: 20% of the USDC Pool + 1 🐙 NFT
◾️Rank #2: 5% of the USDC Pool + 1 🐙NFT
◾️Rank #3: 3.125% of the USDC Pool + 1 🐙 NFT
◾️Rank #4: 3.125% of the USDC Pool + 1 🐙NFT
◾️Rank #5 to #10: 3.125% of the USDC Pool

(NFT tiers for rewards are randomly selected)

Keep track of the apex Buffer traders each week, here 👇
https://app.buffer.finance/#/leaderboard/weekly

Introducing - Buffer Profile pages

https://app.buffer.finance/#/profile

📊 Access your personal trading history

😎 Sleuth around the trading activities of other top traders

https://app.buffer.finance/#/leaderboard/weekly?week=1

Best part - you can also see the 🐙 NFTs your favorite accounts hold 👀

Hey @everyone

📢 ARB based trading is LIVE on https://app.buffer.finance

💪Get ready to deploy your ARB bags:
- Crypto and Forex Up/Down Trading across 15 pairs
- 2% higher 📈 payout than USDC trading
- Optopi NFT and Referral payout⚡️boost activated (max payout upto 92%)

📊Trading fees distribution:
- 70% to ARB vault liquidity providers 👀
- 15% to eligible BFR stakers (MP ⚖️weighted weekly ARB airdrops)
- 15% treasury 🏦to power product development & community growth

Find answer to all your Qs here👇
https://mirror.xyz/0xc730FbdFEb3e9dF76008A19962963cA4A2bd8de2/-sDHge5le-I-jyAkgDXzr_5m6FXVn5PGQdFS5_9_o8c

@everyone , apologies for the delayed response, and thanks for keeping patience.

We have been looking into all our price feeds and how the trades were executed which caused the BLP pool of both USDC and ARB to fall suddenly by 2% to 4% respectively. Based on the community discussion we have decided to take the following things.

1. Change minimum trade time frame to 15 mins (Implemented in contracts will take some time to reflect on frontend) - This seems to be not an issue but we decided to do it because everyone is concerned about it.

2. Minimum trade size is changed to 25 (USDC/ARB) and max OI of the pool across all pairs is kept at 1000 (USDC/ARB)

3. Auto cut-off Trading if BLP (Both USDC or ARB) losses more than 5000 to traders from the current balance

Regarding data and 1 min trading - 100% of the data is open and available to be analyzed most of it accessible through the dashboard and stats page. We will also release data for real-time tracking of all trades and the Dune analytics dashboard (subject to availability of Dev's time) - We are open if anyone wants to work on them independently.

BLP compensation - we will be airdropping USDC and ARB to BLP holders who have faced losses due to the trading activity that seems to be price manipulation. Would advise any LP who doesn't want to take the risk to withdraw funds. We have always compensated for the loss caused due to any technical errors and would continue to do so.

Way forward - Our longer goal is always to shift to 3rd party price oracles like Pyth and chainlink low latency solutions. But during the time we launched they were not fully developed and to get to market we decided to run our Oracles which seemingly worked most times but faced issues during low volume/holiday days.

We have also accelerated our V3 development and have also worked out an interim solution to transition from the current phase to V3 without halting trading or putting LPs at unreasonable risk. Details of the plan will be announced soon.

About short-term trading Would like to re-iterate that 1 min of trading doesn't seem to be a problem but if that's what everyone wants we have decided to stop it for now.

We have high conviction that the next wave of adoption for blockchain will come through simplified and gamified products and we will continue building towards that vision.

@everyone

Here’s the compensation list for both uBLP and aBLP 👇

https://docs.google.com/spreadsheets/d/1H9-2-QWhJKPzkKNqPHGCirI8gXjiEPm4OZ6HkdFxm-U/edit?usp=sharing

Tab 1 is for uBLP and Tab 2 for aBLP

Please find your wallet address, the transfers would be done in the coming week.

Also here’s the complete incident report and our analysis of the situation.

https://mirror.xyz/0xc730FbdFEb3e9dF76008A19962963cA4A2bd8de2/LvqJ3gTymnMCgUJkC1suwZFRDJRhkgBkami01x5PXOs

@everyone
Both uBLP and aBLP compensation is done - check your wallets 🙌

Tx uBLP (USDC compensation): https://arbiscan.io/tx/0x6a4cc59e0c8ef789c8cb8a19f7275194b627eda872c0bd4f4dead7fa2851a464

Tx aBLP (ARB compensation): https://arbiscan.io/tx/0xd5881300a7f5e1bce94ec4aa97fb0e7d5322b37a1becab35983a63030989062c

𝗕𝗜𝗣-𝟬𝟯 𝗧𝗲𝗺𝗽 𝗖𝗵𝗲𝗰𝗸! 🌡️

We have published our newest BIP for initial discussion on Discord - BIP-03 deals with $BFR Tokenomics reworks & Revenue Share Model updates.

𝙃𝙚𝙧𝙚 𝙖𝙧𝙚 𝙩𝙝𝙚 𝙢𝙤𝙨𝙩 𝙞𝙢𝙥𝙤𝙧𝙩𝙖𝙣𝙩 𝙥𝙤𝙞𝙣𝙩𝙨:

🔹Activate Buyback & Burn mechanism for $BFR

🔹Implement dynamic Unstaking Penalty

🔹Reserve esBFR rewards for $BFR Stakers only

🔹Distribute 70% of revenue to Liquidity Providers


Read the full proposal and join the discussion on Discord:

https://discord.com/channels/842093373082959952/1200128077217419466