Beta Testing of Buffer Incentivized Testnet v2

The Buffer is a non-custodial on-chain peer-to-pool options trading protocol that works just like an Automated Market Maker where traders can create, buy and settle options against a liquidity pool without the need of a counterparty. Presently, this project is running a beta testing campaign with prize pool of 100,000 $iBFR (50,000 each week: 19–26 August & 26 August — 02 September)

Section I: Preparing Wallet

Step 1: For adding Polygon/Matic Mumbai Test Net Network to Metamask, check this article.

Step 2: Switch to Mumbai Testnet.

Section II: Beta Testing

Step 1: Visit https://testnet.buffer.finance/POLYGON/binary/BTC and connect your wallet.

Step 2: Click on the ‘Faucet’ tab and then click on the Polygon Faucet link under the “Claim TESTNET MATIC” tab.

Step 3: A new page will open. Select Mumbai as the Testnet Network, choose “MATIC Token”, paste MetaMask wallet address and then, click on the “Submit tab”.

Step 4: Click on the ‘Faucet’ tab and then click on the “Claim USDC” button and approve the transaction to claim 500 Test USDC.

Step 5: Once processed, you will have 500 Test USDC in your wallet. which you can check on the trade page under the investment box.

Step 6: Visit https://testnet.buffer.finance/POLYGON/binary/BTC. To open a position, choose an asset from the asset drop-down menu on the top left-hand corner.

Parameter definition:

• 24-hour Change — the 24-hour change in the price of the asset
• Payout — the expected return a trader will receive if their trade expires “in the money.” Meaning the trader could predict the correct price movement of the underlying asset value.
• You can also add your favorite pair to appear first on the dashboard by clicking on the ‘Star’ icon on the right-hand side of the ‘Payout’ table.

Step 7: Once you select the asset, it will appear on the top . You can toggle between the assets simply by clicking on the asset you are interested in.

Step 8: Select the expiration time (from 5 mins to 24 hours) from the “Select Duration” box present on the right-hand side of the dashboard. The expiration time determines the payout %.

Step 9: Select amount of USDC investment from the dashboard’s investment box on the right-hand side and then click on “Approve”. Approve wallet transactions.

The minimum investment starts at 1 USDC. The investment amount will be deducted from your balance and returned with a profit if your position closes in the money (correct estimation of price movement). If the position closes in loss (incorrect estimation of price movement), the investment amount will not be returned.

Step 10: Once you have decided on the expiration and investment, you need to determine whether the price of the asset will grow or fall. Approve the transactions in wallet. Once a position is opened, you will need to wait until the end of the expiration time to receive the result.

Section III: Feedback

You may share your feedback in their discord.

1. Light/dark mode toggle button
2. UI is attractive & sleek
3. In my case transactions completed at faster rate.

Congratulations! you’ve overcome Buffer Incentivized Testnet v2, now you can buy me a coffee here 🎁.

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