Introducing Buffer Prime NFT club
Buffer Prime Club NFT-Based Governance
The NFT space has now reached escape velocity, extending far beyond early conceptualization. We are witnessing an increasingly close intersection between NFTs and decentralized finance. As such, Buffer Prime Club was conceived as we dug deep into the broader NFT design space.
Buffer NFTs play a significant role in a more holistic approach to token utility and ensure that iBFR can evolve as an operational and utility token rather than just a governance token. The buffer ecosystem, including the Buffer Prime Club, is adopters’ value creation over value capture.
What is Buffer Prime Club?
Buffer Prime Club is a collection of 9,999 multi-chain NFTs generated entirely on-chain.
- 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
🌟Here’s the exciting bit:
Buffer Prime Club NFT is divided into 4 tiers. Besides voting rights, each tier unlocks exclusive benefits for users.
How Can You Get a Buffer Prime NFT?
There is no whitelist to mint a Buffer NFT. For $iBFR holders, we will be hosting multiple events to win Buffer Prime NFTs. Exact requirements will be released in due course; stay tuned to ensure you perform any pre-requisite actions to own one of the prime NFTs.
To ensure fair distribution, the NFTs are minted under provable randomness. Meaning, that on minting a Buffer Prime NFT the NFT you get is random (rarity values in the above table) for both iBFR token holders and participants who don’t hold tokens. Everybody is welcome to mint a Buffer NFT to interact with the Buffer ecosystem or buy the NFT on secondary markets. (Tofu NFT)
In the long run, our end goal is to evolve toward a Decentralized Autonomous Organization (DAO), where all decision rights will belong to the platform users.
Each Buffer prime NFT will act as a governance instrument: it will enable users to vote on multiple upgrades and decide how the platform should develop further. This makes the platform’s governance directly responsive to our most active users and brings Buffer closer to being a platform operated by the community members who value it most.
Buffer Prime NFT offers several use cases to holders including unique attributes, special discounts, and leverage with a secondary marketplace. However, as a governance token, it offers the following use cases to holders:
- Stewarding protocol development and community consensus on key parameters
- Aligning incentives between Buffer stakeholders
- Voting on key proposals and partnerships with DAOs
1 NFT in one wallet represents one vote, and for users holding multiple Buffer primes, the wallet holding the highest tier/class of NFT will be counted as the vote.
Details on the governance and voting mechanics will be released shortly.
Buffer Prime Club X TofuNFT
TofuNFT is our recommended secondary marketplace. Currently, Buffer Prime NFTs are available on the BNB chain but will soon be released on other chains as well.
tofuNFT is a multi-chain decentralized NFT launch, management, and trading platform created by SCV Finance. It mainly focuses on established in-game items and collectibles, meaning that users cannot mint NFTs through the platform.
Despite its recent launch, tofuNFT has already established itself as a top 10 NFT marketplace by the number of active daily traders, according to DappRadar.
Buffer Prime holders will be able to list, sell, discover, buy and manage their NFTs using the platform. This will eventually gather more confidence and promote a greater growth potential for the ecosystem.
By injecting governance into NFT — we create a powerful new primitive that can effectively decouple the relationship between capital and voting power. NFT governance will also facilitate more expressiveness, giving users a governance voice within the ecosystem.
The future is exciting, and with the NFT design space unfurling new possibilities, we are thrilled to integrate the tech stack and unlock new possibilities for the Buffer community because NFTs with utility baked into them are an inevitable part of the future. That will be it for now. Over the coming weeks, we will be releasing more details about the NFT distribution for $iBFR holders and community members and coordinating governance. Stay tuned.
Buffer is an on-chain options pricing and settlement protocol that’s built to support multiple use cases including active options trading, structured products, treasury management, and many more