Port: Buffer Finance || AMM-based options trading platform

Funding Proposals Grants
1

Name of Project

Buffer Finance

Proposal overview

Buffer Finance is a gamified AMM-based options trading platform where options can be bought and exercised against a liquidity pool. We have two product categories that are currently live on Binance Smart Chain, Avalanche and Aurora (Testnet).

  1. Options trading platform where traders can buy options on multiple assets, all backed by a shared liquidity pool. Currently, the platform offers plain vanilla options and will soon also support binary options.

  2. Dynamic Decentralised Option Vaults (DDOVs) are structured crypto products that use options strategies to generate organic and sustainable yield for crypto native yield seekers.

Use Cases

  1. Miners, market makers, and traders can use the trading platform to buy puts to protect from downside or calls to get cheaper exposure to the up move.

  2. DAOs can manage their Treasury by running option vaults on their native tokens. Selling call options can be a great way to raise funds without directly selling tokens.

  3. Crypto native yield seekers can earn organic yields through different options strategies like covered calls, cash-secured puts, covered puts, etc.

Proposal ask

[$40,000]
80% of the proposed budget will be used to get a security audit of DDOVs post, ported to the harmony chain. The options trading platform is audited and has been up and running on the BNB chain for 6 months and can be directly ported to the Harmony chain.

The remaining 20% of the budget will run an initial liquidity incentive program and trading competition to get traction.

We are collaborating with @Vitruvius and the team from Harmony India DAO to help us get the required reach and better understand the harmony ecosystem and find potential partners for our DDOVs

Metrics for success

  • 550+ options sold
  • 4000+ BNB (~$1.6M) worth of notional value traded
  • $850k+ Total Value Locked (Staking + liquidity pool + AMM liquidity)

The link to detailed metrics can be found in the external link section.

Milestones

  1. Port trading platform to harmony (1 week)
  2. Get final DDOV audit (3-4 weeks)
  3. Deploy DDOVs to the Harmony chain (1 week)

External links

  1. Website - https://buffer.finance/
  2. Twitter - https://twitter.com/Buffer_Finance
  3. Telegram - Telegram: Contact @bufferfinance
  4. Dashboard (Metrics) - https://bit.ly/38g0kHU

All social media links can be found on the website.

4 Likes
3

Hey Buffer Finance…

Good to see you guys here…

Hey @Jacksteroo can you check this ?

Thanks

1 Like
4

Hey, @Feynman welcome to Harmony; and thank you for collaborating with Harmony India DAO for your endeavor to onboard Harmony.

All the Best !!!

5

Thank you for submitting a proposal to Harmony’s $300M Ecosystem Fund. We are in the process of reviewing your proposal and will assign a representative on behalf of the Grants Ops team.

We would also love :blue_heart: to have the Harmony community participate to ask questions and provide feedbacks.

If you have more details to add, please do so by replying to this thread.

6

Hi there:
First of all, thank you for posting the proposal.
Regarding the Port asked, here are some port details:

“… DeFi apps should have at least $20M total locked value or 20% sustained yields; NFT mints or games 10K daily active users; DAO $100K payouts. Highly vibrant and engaged communities usually have social metrics of 50K Twitter followers, 10K Discord members, 5000 active wallets, and 1000 Telegram daily online…”

Would you please give a bit more details about daily active users, community, wallets, etc?
During the time of your answer, we’ll take a look at it deeply.

Thank you!
:mechanical_arm: :blue_heart:

1 Like
7

Hi, thanks for the revert @jbeltran.

Here are some of the important numbers for our Webapp and community

Community

  1. Telegram community - 4500+ Members
  2. Price discussion group - 479 Members - (Discussion related to technical analysis of different assets supported by our platform)
  3. Active wallets - 4100+
  4. Twitter followers - 11.5k

App metrics

  1. DAU - 500+
  2. TVL - 525k + (Buffer Finance: TVL and stats - DefiLlama)
  3. Yield - Current APR is 50% and has been maintained over 20% since inception

Other details on options sold - supported assets, etc. can be found here

1 Like
8

Hi @jbeltran Just following up on current status of the proposal.