Buffer Finance AMA Recap

BSCDaily hosts Buffer Finance: #Buffer #BufferFinance #BSCDaily #BSC

BSC_Daily Admin: Hello and welcome, how are you today?

Heisenberg: I am good! Excited about the upcoming IDO.

BSC_Daily Admin: Happy to hear! Ready to start our AMA?

Heisenberg:  Yes. Let’s Begin.

Q1: Now to start the AMA, team Buffer Finance please have a quick introduction to the community.

Heisenberg: Buffer is an on-chain peer-to-pool options trading protocol. It allows anyone to buy options against any asset without the need of a counterparty/option seller. All options are created and executed against a Liquidity Pool where anyone adds liquidity and earns yield from the option premium paid by option buyer.

I am Heisenberg – Co-founder at Buffer Finance. I am a solidity developer with background in Finance.

Q2: Please share with us the background of the team behind this project. What are your past experiences?

Heisenberg: I take care of all tech at buffer finance.

My team members are as follows

Feynman (Co-founder) → Takes care of product management and business development

Freese → Takes care of frontend development

Rubin → Takes care of UX/UI designs

Curie → Takes care of the community

Newton → Takes care of marketing

I and my co-founder comes from an engineering background. And post our engineering we started trading stocks, options and cryptocurrencies.

I am myself a developer with good understanding of finance and my co-founder has background in Data/Analytics and finance.

Our team is majorly technical will high quality of product building ability! Currently our Testnet is already up and you can use it as we speak.

Q3: How does the buffer protocol work?

Heisenberg: It is a gamified options protocol. It works on a peer-to-pool model. What it means is there is no need of a counterparty to buy options. Unlike traditional finance options. All the options are created and exercised against a liquidity pool.

So there is an option buyer who pays fee to buy an option and then this fee is divided among the Liquidity provider who provides the liquidity. The token holder is another key stakeholder in the ecosystem. Who can stake the $iBFR token – which is our native token to earn 50% of the revenue. Also they can participate in key governance proposals and also get a discount over the settlement fee for buying the options.

Q4: What makes Buffer Finance different from other competitors?

Heisenberg: The key difference between buffer finance and other options trading exchanges like Binance, OKEX is it is 100% decentralized.

Then there is no liquidity issue like centralized counterparts where Market making is required.

It works just like Pancake swap works – all the trades are made against a Liquidity pool. And no seller is required. We have also made the user Journey gamified – So anyone around the world can trade options like a prediction game.

Adding to that there are rarely any market available for BNB based options, which makes us quite unique to offer BNB options to BSC folks – who Hold and trade BNB.

Q5: Let’s dive into the tokens. Which kind of role do the $iBFR & $rBFR tokens have within your ecosystem?

Heisenberg: So $iBFR token in the native token – $iBFR holders get direct right over 50% of the revenue made by the protocol. They can stake and earn BNB directly. If the volume per day is 1M we will be generating 40K revenue and 20K of it will be distributed among the stakers. $iBFR also allows voting on proposals and will be bought back and burnt on regular basis.

$rBFR on other hand is the LP token, that is provided to Liquidity providers. $rBFR gives the Liquidity provider the right on the options premium paid by options buyers.

Now any LP can first mint $rBFR by offering Liquidity and then use it stake in the farming pool and get $iBFR and this $iBFR can be staked to earn protocol revenue and this virtuous cycle can keep on continuing.

Q6: Can you share with us about your partnerships & influencers you are collaborating with?

Heisenberg: So we have TruePnL + SuperLauncher and Lithium Ventures are the key partners. We have selected partners based on the audience match.

We have also partnered with multiple influencers to increase awareness including BSC army and other PR and media groups including BSC news. We also many communities invested in us – who have been helping us spread word in different geographies.

Q7: Where can we find out more about Buffer Finance on social media?

Heisenberg: Yes so best place to ask questions is our telegram —> t.me/bufferfinance

Then for updates and announcements anyone can follow our Twitter: twitter.com/Buffer_Finance

And can visit our website -> to try our Testnet buffer.finance

If someone wants to read in detail they can visit our whitepaper —> docs.buffer.finance

BSC_Daily Admin: With this, we are now at the end of our AMA session with Buffer Finance.

Time for wrapping up, any last words you would like to say to our community?

Heisenberg: It was a great AMA and lots of relevant questions! Great to interact with the BSC daily community! Thanks for the invite would be happy to share updates.

BSC_Daily Admin: Thank you so much for spending time with our community & all the very best for Buffer Finance.

Source : bscdaily

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