Berry Data X Buffer Finance — Co-building a Solid BSC Infrastructure
On July 17th, Berry Data and Buffer Finance reached a partnership. Buffer is a non-custodial on-chain peer-to-pool options trading protocol that works just like an Automated Market Maker (eg: PancakeSwap) where traders can create, buy and settle options against a liquidity pool without the need of a token. Buffer makes options trading accessible to everyone and more efficient than its centralized alternate. Berry Data is a decentralized oracle which provide dex with underlying service. Berry Data and Buffer Finance will work together to co-building a solid BSC infrastructure for the eco-system.
About Buffer Finance
Buffer Finance is an options trading protocol for BNB built over Binance smart chain. It’s first ever decentralized options trading protocol for BNB which works just like an AMM — options can be bought against a liquidity pool without the need of an options seller. Currently, Buffer Finance is in the Testnet phase with about 1000+ participants.
What are the benefits of using buffer?
Non-custodial: All the liquidity is auto managed by an immutable smart contract
Bidirectional liquidity pools: One pool to write both put and call options no separate USDT and BEP-20 pools required
Trustless: On-chain trustless settlement for each contract (Fully decentralized)
American style options: Can be exercised anytime before expiry
Customizable: Option buyer can choose any strike price
Zero liquidity risk: Locked liquidity for each option removes counter party and liquidity risks for option buyers
No-censorship: No-KYC or registration required
Yield-farming: Earn yield over any BEP-20 token (Starting with WBNB, WETH and WBTC)
Diversification for liquidity provider: Diversify risk by a single liquidity pool for both call and put options
About Berry Data
Berry Data is a transparent community-veriﬁed price oracle on BSC(Binance Smart Chain). Berry Data provides a trustless and decentralized alternative for off-chain data. Also, it provides the infrastructure for decentralized applications to query off-chain data by properly incentivizing miners to provide data.
Berry Data is an oracle system where parties can request the value of an off-chain data point and miners compete to add this value to an on-chain data bank, accessible by all dApps on Binance Smart Chain (BSC). The inputs to this data bank are secured by a network of staked miners. BERRY utilizes crypto-economic incentive mechanisms, rewarding honest data submissions by miners and punishing bad actors, through the issuance of Berry’s governance token, BRY, and a dispute mechanism.