Buffer Launches on Aurora to Integrate With NEAR Blockchain
We’re excited to announce that Buffer Finance is officially live on the Near Protocol by leveraging Aurora as the L2 scaling solution. We’re also launching a covered call vault for wNEAR — more exciting vault details below!
The NEAR protocol uses the Proof-of-Stake consensus facilitating a community-enabled platform to host dApps. NEAR’s novel sharding technology makes it much more capital-efficient and scalable than its competitors, including Ethereum. Buffer can seamlessly deploy onto the NEAR protocol using Aurora without expending any additional deployment resources or time.
Averaging a block time of 1 second and confirmation time of 2 seconds and offering the benefit of zero transaction costs — Aurora is not your typical L2 solution — it is EVM built on the climate-neutral NEAR protocol, delivering a turnkey solution for devs to deploy their dApps on an Ethereum-compatible, scalable, high-throughput and future-proof platform.
According to Defilama, the TVL on Aurora has spiked by 35% across May — the chain seems to be up-trending consistently even when the rest of the market remains bearish.
Based on the following observations and historical performance, our aphoristic belief is that NEAR/Aurora will most likely be the next wave, standing at the forefront of Blockchain 3.0. Hence, we believe this deployment ensures Buffer’s collaborative growth and community prosperity in the long run.
How to Get Started?
- First off, make sure you have a wallet that supports Aurora, such as MetaMask, Trust Wallet, or SafePal Wallet.
- Next up, buffer users can switch between networks using our switcher interface. Click on the “switch tab” located in the top right-hand corner, beside the “Connect Wallet” tab. Once the drop-down menu appears, click on “Aurora” as your desired network,
- Secondly, add the Aurora network to your wallet if you are not an existing Aurora user. To bridge/transfer funds to Aurora — You can use the official Allbridge to move tokens from Binance Smart Chain. Also, keep in mind that ETH is the base currency of Aurora, so you will need to bridge some ETH to make transactions.
Yield is NEAR…
Our first DDOV with a covered call strategy for wNEAR is now live.
Vault Cap and Strategy:
- Deposit: wNEAR
- Receive: rNEAR (As proof of deposit)
- Strategy: The vault sells an out-of-the-money call option on wNEAR to provide users with optimal yields in rNEAR on their deposited principal. Vault deposits can be made at any time.
Initially, we set a vault cap of 50K wNEAR and gradually expand over time as it gets filled. Currently, the vault manager sets parameters like strike price and IV and which will be decentralized as we go ahead.
Check out the vault and start depositing wNEAR, here👇 https://app.buffer.finance/AURORA/vault
Buffer is an on-chain options pricing and settlement protocol that supports multi-asset option trading against a shared liquidity pool and multi-chain dynamic decentralized option vaults.