Getting started with Buffer incentivized testnet
This is a step-by-step guide on how to use the Buffer incentivized Testnet
A simple step-by-step guide on getting started with using the Buffer protocol Testnet to provide liquidity or trade customizable options.
Setup Binance Testnet
- Install MetaMask or other wallet supporting Binance Smart Chain.
- Configure your Metamask for BSC and BSC Testnet
- Fund your wallet with BNB via the BNB Testnet faucet
You now ready to start trading options.
Buy Options
- Visit → https://testnet.buffer.finance/
- Connect your MetaMask wallet with the BSC testnet
3. Customize the option based on your viewpoint
- Option Type: Put or Call
- Options Size: Amount of BNB for which you want to buy the option
- Strike Price: Set your own strike price
- Period: Select the period for which the option will be active and exercise anytime before the option expires
4. You can check the total cost breakup by clicking on the info (i) icon on the total cost section
5. Click the buy option to pay the transaction fee and execute your order.
6. Check active and expired options from the options holdings section.
7. Exercise the in-the-money positions anytime before the expiry to book the P&L.
Provide Liquidity
- Go to the provide liquidity section
- Deposit liquidity in the choice of your liquidity pool (Currently BNB pool is present on testnet)
3. Select the amount of BNB you want to add to the liquidity pool and you will see the write tokens you will receive against the provided liquidity.
4. You can withdraw provided liquidity + the yield earned anytime after the 14-day liquidity lockup.
Have any suggestions or queries?
Learn how you can win $iBFR rewards by suggesting features, UI improvements, or reporting bugs → here
About Buffer
Buffer is a non-custodial on-chain peer-to-pool options trading protocol that works just like an Automated Market Maker (eg: PancakeSwap) where traders can create, buy, and settle options against liquidity pool without the need of a counterparty (option writer). Buffer makes options trading accessible to everyone and much more efficient than its centralized counterpart.
Important links
- Discord server → https://discord.gg/Hj4QF92Kdc
- Telegram group → https://t.me/bufferfinance
- Twitter (DM open) → https://twitter.com/Buffer_finance
- Medium → https://buffer-finance.medium.com/
- Website → https://www.buffer.finance/
- Testnet → https://testnet.buffer.finance/
