January was fantastic for Buffer — 2222/2222 Optopi minted out, 60K USDC generated in trading fees in 10 days since mainnet launch.
Now that the platform is ready to onboard the next wave of options traders, in pure Buffer fashion — we’d like to kickstart the onboarding with an exciting feature you’ve all been waiting for:
The Buffer Daily Trading Competitions — a highly competitive arena where traders get to prove themselves & win rewards in USDC + Optopi NFTs, every day! And although it’s a fight to remain at the apex of the leaderboard, we have rewards for the highest AND the lowest PnLs.
Enough with the preface; we know you’ve got a lot of Qs. So, let’s get started!
- The daily competition begins on Feb 9th at 16:00 PM UTC and ends on March 1st.
- Trading cycle: From 16:00 UTC to the next day at 16:00 UTC
Who is eligible for the contest & How do I join?
Inclusivity is one of our core values, the contest is open for everybody to participate. There is no special registration process to join the competitions. Any trader can trade on Buffer between Feb 9th to Mar to join the daily competitions.
How do I win?
We’ve introduced a leaderboard with a total absolute PnL as the winning criteria. Total Absolute PnL is defined as the sum of all individual trade’s PnLs. All the trades opened on the platform for the next 20 days will be counted as part of the daily trading competitions leaderboard.
How many winners?
Two winning categories will be recognized in the daily trading competitions:
Category 1: Top 10 traders with the highest absolute payout
Category 2: Top 10 traders with the lowest absolute payout
In total, there are 20 winners for every trading cycle.
What are the competition rewards?
We have defined two different types of rewards for the daily competitions:
- USDC reward pool: 5% of the total trading fees collected for that day. The reward pool is dynamic in nature because the amount of fees collected varies based on the trading volume on the platform for that day.
- Optopi NFTs: 1 Optopi NFTs will be distributed daily to the biggest loser. The NFT for distribution will be randomly selected and revealed to the winners after distribution.
How will the USDC reward & Optopi reward be distributed for every trading cycle?
The two winner categories will follow this reward distribution:
Note: reward distribution for every trading cycle will occur within 7 days from the end of that trading cycle.
Am I limited to trading on certain pairs only during the contest?
There is no such limitation, you can trade on any pair listed on the mainnet for the daily competitions. And guess what… to make the contest truly inclusive to all our traders’ preferences, we have also added COMMODITIES on top of Crypto and Forex pairs!
List of all pairs:
- I am new to Buffer, how do I start trading?
Here’s a quick guide on trading on Buffer:
- Go to https://app.buffer.finance/
- Choose the market you’d like to trade: crypto or forex or commodities
- Choose the pair you’d like to trade (use the list above to navigate)
- Select all the “trade parameters” on the right-hand side dashboard:
- Trade duration: timeframes range from 5 mins, 15 mins, 1 hr, and 4 hrs
- Trade size: the amount of USDC to open a position
- Select the direction you anticipate the price will move by selecting any of the two buttons:
- 🔼Up: means that you predict an increase in the price of the asset.
- 🔽Down: means you predict a decrease in the price of the asset
- I already own an Optopi NFT, will the payout boost from the NFT be accounted for the trades made during the contest?
Yes, for all Optopi holders, the payout boost will still apply to all trades during the contest. If you hold an Optopi NFT, the platform contracts will automatically check and apply for a payout boost when a trade is opened.
- Will I receive the reward immediately after the end of every trading cycle?
No rewards will be distributed within 7 days after the end of a trading cycle.
- I have got a different question about the contest, what do I do?
You can always open a ticket on discord for 24/7 support with any questions or concerns. Our team is ready to assist you!”