Recapitulation of BufferFinance PROJECT AMA event held at AMA LOVERS CLUB.
Date: Wednesday, 15th September, 2021
Time: 14:00 UTC
The BufferFinance PROJECT team was represented by @Heisenberg1194 who judiciously shared with us detailed knowledge and information about BufferFinance PROJECT.
1st Segment: INTRODUCTION
Q1: Can you please introduce yourself and your background, also introduce the team working on BufferFinance?
ANS: I am Heisenberg founder of Buffer Finance.
I am myself a solidity developer with a background in options trading and finance. I take care of product development and technology at Buffer Finance
Other than me we have five more team members
Feynman (Co-founder) → Takes care of product management, business development and partnerships
Freese → Takes care of frontend development
Rubin → Takes care of UX/UI designs
Curie → Takes care of the community
Newton → Takes care of marketing
Q2: Can you introduce BufferFinance, what critical problems does it solve that existing solutions are not solving and what's the competitive advantage?
ANS: Buffer is an on-chain peer-to-pool options trading protocol.
It allows any one 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 any one add liquidity and earn yield from the option premium paid by option buyer.
Currently, there are 3 key problems
1. On-chain protocols offering BNB based options are rare to find
2. BNB options available on the centralized exchanges are highly illiquid and requires a counterparty/options seller
3. Option trading is complex and many new crypto investors stay away from it and rather do spot trading which requires more capital and gives significantly lesser returns on avergae
At buffer finance we solve all the above problems
1. We offer 100% liquid BNB based options on-chain accessible to everyone
2. We have introduced a peer to pool mechanism for options trading - which has removed the need of a counterpart - So just like an automated market maker (eg: PancakeSwap) an option buyer can buy options without the need of an options seller directly against a liquidity pool
3. We are gamifying the whole options trading experience with our Leaderboard challenge and Prediction markets - to make options simple and accessible to everyone.
Q3: Can you briefly describe the top milestones you have achieved and your target milestones with timelines, also share your roadmap?
ANS: Sure, Talking about milestone - our Full ecosystem is already live on Testnet. users can buy options, provide liquidity, make predictions on BNB prices and even now stake $iBFR to earn revenue share.
Our IDO is coming on 20th with superlauncher + Lithium venture and our new partner TruePnL
So kind of all on target
in future you will see our Audit getting public with one of the top Audit firm and then post Mainnet launch we will expanding to other chains and will be increasing supported assets.
Our detailed roadmap is here —> https://docs.buffer.finance/roadmap
Q4: Can you briefly describe your PARTNERSHIPS so far?
ANS: We have multiple partnerships
1. Technical - Berry Data and chainlink
2. Launchpads - Superlauncher + Lithium Ventures +TruePnL
3. Media & PR - BSC daily, BSC Army, and BSC News
4. Research and crypto advisory - CryptoBuddy
5. Audit /security - TBA (one of the top audit firms)
Many more partnerships will be announced including multiple swaps + wallet trackers as we move closer to our IDO and post our mainnet launch.
Q5: Can you give an overview of the Tokenomics, and UTILITY of the $iBFR Tokens?
So $iBFR is the native token for the protocol and is a integral part of it.
It has tons of Utility - one the Key one is revenue share of 50% for stakers.
Here are the basic specifications.
Total Supply: 100,000,000 (100 M)
Network: Binance Smart Chain
Contract Address: TGE date to be announced
Key utility of the $iBFR token
Revenue share - Stake $iBFR to receive a constant stream of passive income
Liquidity mining - Earn yield by staking $iBFR LP pair tokens
Deflationary - Milestone based buybacks and manual burns
Governance - Post Q1 2022 roadmap all feature releases will be governed by $iBFR token holders
Discount - Hold $iBFR tokens and get a discount over the settlement fee required to place a bid in the BNB price prediction game.
Detailed tokenomics can be found here —> https://docs.buffer.finance/tokenomics-1/usdibfr-tokens
Also for those who want to participate in IDO the IDO price would be $0.05 and the listing price would be $0.075 and we would be listing on PCS.
2nd Segment: LIVE Questions
Q1: Prediction game is only restricted to BNB. So will you bring more coins Like BTC, ETH, etc? It will be more fun to play. So do you have any plans for that?
ANS: Yes currently we have prediction game available for BNB because we wanted to start something for BNB holders and BNB believers
But Yet more assets will be coming in the Q4 of 2021 including WETH and WBTC + Solana and other common cryptocurrencies.
But that's Just the start we also plan to include Stock options for popular stocks like Apple, Amazon, Alphabet, and Tesla.
Q2: I read a unique feature of insurance on BNB will be coming soon on Buffer Finance. But how it will work? Will buffer finance pay us when there will be a sudden dump. This feature is very exciting. Can you explain more about it and its working model?
ANS: Yes that's how insurance will work - You can secure yourself from sudden dump by Buying insurance from our platform. The insurance will also be written against a liquidity pool.
Q3: According to your roadmap, in Q1 of 2022, Buffer Finance will deploy an 'Options Strategy Builder'. Can you explain more of this feature and how would users benefit from it?
ANS: yeah so options strategies will include multiple strategies pre-built for option buyers. it's pretty straight forward feature but we would like to educate users first before launching this feature them.
The most common strategy that would be launched first would be allowing users to buy straddles.
Q4: I saw that in Buffer Finance traders and speculators can monetize their point of view on the future price of an asset with their innovative and cool "Prediction Game", but tell me, what kind of digital assets can be predicted, e.g. NFT's can also be predicted their price or not?
ANS: We donot support NFTs right now! but any prediction made on our platform on any asset can be converted to a NFT and transferred to someone else.
Q5: IHi sir, you will be doing IDO in the next few days , Can I still register for $iBFR IDO? How do I buy $iBFR tokens if I can't buy them on IDO? Where are your public sales?
ANS: Yes our IDO will be starting from 19th at Lithium ventures followed by TruePnL and then final leg would be conducted by Superlauncher.
You can join our Telegram group —> t.me/bufferfinance to stay updated and understand the requirements to buy $iBFR through the IDO.
Follow Us On Our Various Social Media Communities For More Update;
Testnet: https://testnet.buffer.finance/ (You can dummy liquidity and try)
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