On April 9th, 10 PM UTC, suspicious trading activity was identified involving a trader or group of traders on Buffer Finance's decentralized options trading platform. The trader(s) used five different wallets, achieving unusual win streaks and high win rates across both ARB and USDC BLP pools. Below, we provide a detailed timeline of events, root cause analysis, impact, mitigation, LP compensation plan, and the road to long-term sustainability.Timeline of eventsCycle 1: Starting 01:12:28...

On April 9th, 10 PM UTC, suspicious trading activity was identified involving a trader or group of traders on Buffer Finance's decentralized options trading platform. The trader(s) used five different wallets, achieving unusual win streaks and high win rates across both ARB and USDC BLP pools. Below, we provide a detailed timeline of events, root cause analysis, impact, mitigation, LP compensation plan, and the road to long-term sustainability.Timeline of eventsCycle 1: Starting 01:12:28...

Welcome to the 14th edition of the Buffer Digest, our weekly newsletter where we provide updates on product development and verified statistics on protocol and community growth. This week, we have some exciting news to share with you. Here's a quick summary of what you'll find in this week's newsletter:Quote of the weekPlatform statistics for Arbitrum and PolygonEcosystem news, including a partnership with GND Protocol and updates on the Buffer Loyalty ProgramThe incident repor...

Welcome to the 14th edition of the Buffer Digest, our weekly newsletter where we provide updates on product development and verified statistics on protocol and community growth. This week, we have some exciting news to share with you. Here's a quick summary of what you'll find in this week's newsletter:Quote of the weekPlatform statistics for Arbitrum and PolygonEcosystem news, including a partnership with GND Protocol and updates on the Buffer Loyalty ProgramThe incident repor...

Hello Bufferinos! We're moving out of the very strict risk management mode that we have been in for the past few weeks, and now have much better tools to manage risk, stay competitive, and foster higher trading volume. What's next? Revamp the Buffer value accrual system to achieve: a higher optimized APR for BLP liquidity providers & BFR stakers, long-term sustainability, and positive network effects on the platform. In this article, we illustrate each goal and how we achieve them w...

Hello Bufferinos! We're moving out of the very strict risk management mode that we have been in for the past few weeks, and now have much better tools to manage risk, stay competitive, and foster higher trading volume. What's next? Revamp the Buffer value accrual system to achieve: a higher optimized APR for BLP liquidity providers & BFR stakers, long-term sustainability, and positive network effects on the platform. In this article, we illustrate each goal and how we achieve them w...

While we prepare a thorough root cause analysis of the events that occurred on 9th April 2023, here’s our immediate plan for a robust future for Buffer Finance. It’s a long one, grab a cuppa ☕ and let’s get started! To ensure clarity, we will outline the action plan as the identified issues, and their corresponding solutions.* *Problem 1: Oracle failure, bad price feedsDecentralized (price-sensitive) derivatives platforms like Buffer require a specific pull-based Oracle system that necessitat...

While we prepare a thorough root cause analysis of the events that occurred on 9th April 2023, here’s our immediate plan for a robust future for Buffer Finance. It’s a long one, grab a cuppa ☕ and let’s get started! To ensure clarity, we will outline the action plan as the identified issues, and their corresponding solutions.* *Problem 1: Oracle failure, bad price feedsDecentralized (price-sensitive) derivatives platforms like Buffer require a specific pull-based Oracle system that necessitat...

Abstract:This proposal outlines the implementation of a deflationary mechanism for the $BFR token through supply reduction, burn protocol initiation, and a hard supply cap. We propose several measures to strengthen the role of the $BFR token as the core asset of the Buffer ecosystem & reduce the dilution of supply through inflation. These measures have been discussed within the community and team for a long time, and after carefully weighing the options and potential impact, we have decided o...

Abstract:This proposal outlines the implementation of a deflationary mechanism for the $BFR token through supply reduction, burn protocol initiation, and a hard supply cap. We propose several measures to strengthen the role of the $BFR token as the core asset of the Buffer ecosystem & reduce the dilution of supply through inflation. These measures have been discussed within the community and team for a long time, and after carefully weighing the options and potential impact, we have decided o...

Welcome to the latest edition of the Buffer Digest, our weekly protocol briefing. We're thrilled to bring you an overview of our accomplishments from the past week and key announcements. Additionally, we'll share our forward-looking strategies for expanding both the project and our community. Read along! TL;DR:Ecosystem newsPlatform StatisticsWhat’s in the pipeline?Buffer frensCommunity spaceVibe of the weekLet’s dive in!Ecosystem newsVoting on BIP-02 has ended The Buffer Improvemen...

Welcome to the latest edition of the Buffer Digest, our weekly protocol briefing. We're thrilled to bring you an overview of our accomplishments from the past week and key announcements. Additionally, we'll share our forward-looking strategies for expanding both the project and our community. Read along! TL;DR:Ecosystem newsPlatform StatisticsWhat’s in the pipeline?Buffer frensCommunity spaceVibe of the weekLet’s dive in!Ecosystem newsVoting on BIP-02 has ended The Buffer Improvemen...

This report provides a chronology of events that caused a BLP: USDC drawdown to 1:0.93 between Feb 22nd to Feb 25th, led by a potential SOL price manipulation. It also demonstrates the steps taken to re-establish the BLP: USDC exchange rate to 1:1 as well as our future plans for long-term risk management. Timeline of EventsFirst CycleStarting on 22nd Feb and throughout 23rd Feb, trader X on Buffer Finance began generating large profits while trading only on the SOL/USD pair, using 3 wallets:0...

This report provides a chronology of events that caused a BLP: USDC drawdown to 1:0.93 between Feb 22nd to Feb 25th, led by a potential SOL price manipulation. It also demonstrates the steps taken to re-establish the BLP: USDC exchange rate to 1:1 as well as our future plans for long-term risk management. Timeline of EventsFirst CycleStarting on 22nd Feb and throughout 23rd Feb, trader X on Buffer Finance began generating large profits while trading only on the SOL/USD pair, using 3 wallets:0...

Welcome to another edition of the Buffer Digest, our weekly protocol roundup. Once again, we're excited to provide you with a rundown of what we have accomplished this last week, important announcements, and our plans for growing the project and the community. Read along!TL;DR: Ecosystem news Platform Statistics What's in the pipeline?Buffer frensCommunity space Vibe of the weekLet's dive in!Ecosystem newsBIP-02 votingBIP-02 went live on a snapshot on May 26th, at the time of w...

Welcome to another edition of the Buffer Digest, our weekly protocol roundup. Once again, we're excited to provide you with a rundown of what we have accomplished this last week, important announcements, and our plans for growing the project and the community. Read along!TL;DR: Ecosystem news Platform Statistics What's in the pipeline?Buffer frensCommunity space Vibe of the weekLet's dive in!Ecosystem newsBIP-02 votingBIP-02 went live on a snapshot on May 26th, at the time of w...

Gm Bufferinos! We are activating the second tenet of our unanimously approved BIP-02 - a BFR-based trading pool. Besides USDC and ARB, trades traders can open Up/Down trades positions on app.buffer.finance using BFRPool Details:Pool Size: 5M BFRPool Type: POL (protocol-owned liquidity)POL is seeded by the Buffer treasury. BFR pool liquidity inflows/outflows will be subject to governance once the Buffer DAO is implemented.Trading Details:Supported Pairs:Payout Type: Dynamic structure to mitiga...

Gm Bufferinos! We are activating the second tenet of our unanimously approved BIP-02 - a BFR-based trading pool. Besides USDC and ARB, trades traders can open Up/Down trades positions on app.buffer.finance using BFRPool Details:Pool Size: 5M BFRPool Type: POL (protocol-owned liquidity)POL is seeded by the Buffer treasury. BFR pool liquidity inflows/outflows will be subject to governance once the Buffer DAO is implemented.Trading Details:Supported Pairs:Payout Type: Dynamic structure to mitiga...

Welcome to the 15th edition of the Buffer Digest, our weekly newsletter that brings you the latest updates on product development and verified statistics on protocol and community growth. Here's a quick summary of what you'll find in this week's newsletter:Quote of the weekPlatform statistics for Arbitrum and PolygonBuffer Improvement Proposal 02Ecosystem news, including partnership with 888ALIEN and binary options with Metavault and Airdrop #3Buffer on Token TerminalBuffer Rev...

Welcome to the 15th edition of the Buffer Digest, our weekly newsletter that brings you the latest updates on product development and verified statistics on protocol and community growth. Here's a quick summary of what you'll find in this week's newsletter:Quote of the weekPlatform statistics for Arbitrum and PolygonBuffer Improvement Proposal 02Ecosystem news, including partnership with 888ALIEN and binary options with Metavault and Airdrop #3Buffer on Token TerminalBuffer Rev...

It’s an exciting time to be a part of the Arbitrum ecosystem. All of CT is painted in blue and orange 💙🧡. At Buffer, we are doing our own part in strengthening the Arbitrum ecosystem. TL;DR:A portion of the ARB tokens will be allocated to seed the buffer liquidity pool to kick-start ARB-based Up/Down trading. 70% of the trading fee is distributed to users who provide liquidity to the ARB vault 15% of the trading fee is distributed to eligible BFR stakers15% of the remaining trading fee is r...

It’s an exciting time to be a part of the Arbitrum ecosystem. All of CT is painted in blue and orange 💙🧡. At Buffer, we are doing our own part in strengthening the Arbitrum ecosystem. TL;DR:A portion of the ARB tokens will be allocated to seed the buffer liquidity pool to kick-start ARB-based Up/Down trading. 70% of the trading fee is distributed to users who provide liquidity to the ARB vault 15% of the trading fee is distributed to eligible BFR stakers15% of the remaining trading fee is r...

February has been another great month marked by utility-driven partnerships, including our recent collaboration with Gamma Strategies. What utility does the partnership bring - what is Gamma Strategies, and how can you leverage the partnership for a hands-off LPing experience with low price impact, & minimal impermanent loss? Let’s figure that out in this blog post.What is Gamma?Gamma strategies is essentially a non-custodial, permissionless active liquidity manager specifically for concentra...

February has been another great month marked by utility-driven partnerships, including our recent collaboration with Gamma Strategies. What utility does the partnership bring - what is Gamma Strategies, and how can you leverage the partnership for a hands-off LPing experience with low price impact, & minimal impermanent loss? Let’s figure that out in this blog post.What is Gamma?Gamma strategies is essentially a non-custodial, permissionless active liquidity manager specifically for concentra...