We are live on the mainnet!
After 3 months of vigorous development, multiple community testnet campaigns, a successful external audit, and rigorous internal testing, we’re incredibly excited to announce that Buffer V2 is LIVE on Arbitrum mainnet.
In this piece, we’d like to go over some key points regarding the launch and expectations and announce the Buffer Referral Program!
- Buffer launched on Arbitrum Mainnet: 30/01/2023
- Crypto and forex trading are live on mainnet
- BLP-enabled trading has been activated, and 100K USDC will be added to BLP from POL to increase the max trade size further
- esBFR and trading fee rewards for USDC vault depositoors have started to accrue
- Traders can use their Optopi NFT for payout boosts which are automatically applied at the time of opening a trade
- Buffer Referral Program and Buffer Prime Club are launching with the mainnet
BLP Enabled UP/DOWN Trading
Crypto and Forex Up/Down trading is live on the mainnet.
Our mainnet currently offers 2 Crypto and 2 Forex trading pairs, with the goal of expanding to over 80 trading pairs on our dApp. This is now possible thanks to our new publisher system that makes it easy to support and host new pairs quickly.
Trading pairs live on the Mainnet:
After a successful incentivized testnet round (thanks to all the testooors who participated), we have enabled BLP (Buffer Liquidity Pool) trading for Up/Down options.
Better Risk Management
Here’s a short recap of all the parameters that have been set in place to ensure the stability of the liquidity pool:
- Max utilization — Max vault utilization at a time is capped at 40% of the total available liquidity. (Would be increased gradually)
- Max utilization per asset — 2–3% of the total available liquidity (Depends on the asset)
- Separate Payout (%) for Up and Down (will be kept the same for all assets initially but can be changed in case of unidirectional moves in the market)
- Max utilization per trade — 0.25% of the available liquidity
- Max limit — the maximum amount of liquidity that can be provided to the USDC vault at any given time is currently capped at 500K USDC (Will be increased to 1.5M shortly)
Optopi NFT — Payout boost activated
With the mainnet launch, holdoors can explore the benefits of their Optopi NFTs, starting with a payout boost.
How exactly are payout boosts applied?
Payout boosts are automatically applied at the time of opening. For traders holding two or more Optopi NFTs of different tiers, the payout boost from the NFT of the highest tier is applied.
So, for example, if Alice holds a Silver and a Diamond Optopus, at the time of opening a trade, the payout boost from the Diamond Optopus will be taken into account.
Did we mention we added HIGHER🆙 Payout Boost per NFT tier?
New boosts for each tier:
- Silver ➔ 2.5%
- Gold ➔ 5%
- Platinum ➔ 8%
- Diamond ➔ 12%
Learn more about each of these utilities here.
Buffer Referral Program
To show our appreciation for early supporters of Buffer within our community and to reward actual product users, we’re happy to announce the start of the Buffer Referral Program to coincide with our launch on Arbitrum Mainnet!
The carefully designed referral program follows a tier-based system, allowing anyone to create their own referral link and earn a % from their referee’s trade size as a reward. For referees, the program offers a payout boost similar to Optopi NFT.
Getting Started: Trading on Buffer
Step 1 — Head over to the “Trade” on Buffer: here!
Connect your wallet to the platform by clicking on the “Connect” button in the top right-hand corner.
Step 2 — Select the asset you want to trade with
To open a position, choose an asset from the asset drop-down menu on the top left-hand corner of the “Trade” page.
💡Note: Unlike crypto markets, forex markets follow a specific schedule. You can check when the markets are open on the app while trading.
There are opportunities around the clock; as different markets open, you can trade binary options contracts based on different currencies.
Step 3 — Choose the desired timeframe
You can choose the Timeframe from the “Select Duration” box on the right-hand side of the dashboard.
Step 4 — Choose your Trade Size
Choose your USDC investment in the “Trade Size” box.
Step 5 — Choose the direction — Up or Down.
Once you open Up or Down positions, you are ready to open a trade. Once a position is opened, you will need to wait until the end of the expiration time to receive the result.
Documentation and User Guide
To get users acquainted with the flow of Buffer and the newly launched referral program and other features, we’ll be publishing documentation on Gitbook to coincide with the launch on Mainnet. In addition, we’ll prepare a visual user guide for you guys to follow along the trading process, providing liquidity, and getting used to the UI/UX.
V2 — Just the Beginning
The Buffer v2 protocol mainnet launch is the first step in our goal of building the easiest options trading hub in DeFi. Buffer v2 offers faster trading, better risk management, optimized UX, and a unique collection of NFTs that make trading on Buffer exciting and even more rewarding.
While we continue to iterate on what we’ve learned so far, we are determined to become the default options trading platform traders use. We are currently working on optimizing trade execution speed and open-sourcing a complete keeper code base. Over a few weeks, all Admin rights will be renounced and time-locked as well.
Please feel free to ping us on Discord if you have any questions or concerns — the team is available 24/7 for support.