Buffer Token (BFR) API and Price Oracle

Buffer Token

For informational use only; request a custom oracle/API for production below.
General information
Contract address
Smart contract address of the asset
Blockchain network where the asset is deployed
Pricing methodology used to determine the price of the token in USD. By default, all price feeds on the DIA App are calculated with a MAIR methodology. This parameter is customisable.Learn more about methodologies.
Update frequency
120 seconds is the default update frequency. This parameter is customisable.Learn more about oracle updates.
Next update
24h Volume
The total volume captured by DIA across all the integrated sources.
Volume 24h
Trades 24h
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Token information

What is Buffer Token (BFR)?

Buffer Token (BFR) is a cryptocurrency that aims to solve the issue of short-term volatility in the market. It is designed to act as a buffer between stablecoins and volatile assets, offering stability and security. BFR was founded in [founding year] by [founder] and is associated with [founding company]. The name "Buffer Token" comes from its intended role in buffering against price fluctuations.

How does Buffer Token work?

Buffer Token is a blockchain-based cryptocurrency that facilitates decentralized liquidity provision and incentivizes long-term token holders. Its underlying technology is built on the Ethereum blockchain. Ethereum is a decentralized platform that enables smart contracts, which are self-executing contracts with the terms of the agreement directly embedded in code. Smart contracts allow for the automatic execution of transactions and provide transparency, security, and efficiency.

The functioning of Buffer Token revolves around its core features, including liquidity provision and token burning. Buffer Tokens are used to provide liquidity to decentralized exchanges and other liquidity pools. The token holders can lock their tokens in specific smart contracts and receive rewards in return for their contribution to the liquidity pool. These rewards are typically in the form of additional tokens or fees generated from the use of the liquidity pool.

To incentivize long-term holding, Buffer Token has a burning mechanism. A portion of the transaction fees generated by the protocol is used to buy back and burn Buffer Tokens from the market. This reduces the overall supply of tokens, increasing their scarcity and potentially driving up their market value over time.

The use of blockchain technology ensures security, immutability, and transparency for all participants in the Buffer Token ecosystem. Transactions are recorded on the Ethereum blockchain, making them resistant to censorship or tampering. Additionally, the use of smart contracts automates the execution of transactions, eliminating the need for intermediaries and reducing the possibility of errors or fraud.

In conclusion, Buffer Token leverages the underlying technology of the Ethereum blockchain to enable decentralized liquidity provision and incentivize long-term token holding. Its functioning is based on the principles of smart contracts, liquidity provision, and token burning, providing participants with increased liquidity and potential value appreciation.

What are the benefits of Buffer Token?

Buffer Token offers several benefits compared to its direct competitors in the blockchain space.

One of the key benefits of Buffer Token is its ability to mitigate price volatility. As a stable token, it aims to maintain a stable value against a target asset, such as a fiat currency or a basket of assets. This stability can be especially valuable for users looking to transact or hold value in a decentralized ecosystem without being subject to the price fluctuations common in traditional cryptocurrencies.

Compared to other stablecoins, Buffer Token stands out with its decentralized governance model. The token is designed to be governed by a decentralized autonomous organization (DAO), where holders of the token can actively participate in decision-making processes. This level of decentralization allows for increased transparency, community participation, and reduces the risk of centralized control.

Another advantage of Buffer Token is its focus on security and auditability. The token aims to achieve a high level of transparency and trust by ensuring that each token is backed by collateral assets held in secure and audited reserves. This commitment to security can provide users with confidence and peace of mind when using the token for various transactions or as a store of value.

In terms of usability, Buffer Token strives to provide seamless integration with existing decentralized finance (DeFi) applications and platforms. This interoperability allows users to easily access the benefits of Buffer Token within the larger DeFi ecosystem, offering more options and flexibility for users.

Overall, Buffer Token's key benefits lie in its stability, decentralized governance, security, and usability within the decentralized ecosystem. While there are other stablecoin competitors in the market, Buffer Token's unique features and focus on community participation make it a compelling option for users seeking stability and transparency in the blockchain space.

What is Buffer Token used for?

Buffer Token (BUF) is a cryptocurrency token that serves various purposes within its respective blockchain ecosystem. Common use cases for Buffer Token include but are not limited to liquidity provision, governance, and asset management.

Liquidity provision is a significant function of Buffer Token. By participating in liquidity pools, token holders can earn fees and incentives for providing liquidity to the market. This process facilitates smooth trading and efficient price discovery for the underlying assets.

Another important use case for Buffer Token is governance. Token holders can participate in decision-making processes regarding the protocol's development and future upgrades. This democratic approach ensures that the community has a say in how the protocol evolves over time.

In terms of asset management, Buffer Token can act as a hedge against market volatility. Users can hold Buffer Tokens to offset potential losses during market downturns. For example, if an investor expects a significant price drop in a specific cryptocurrency, they can hold Buffer Tokens to mitigate the impact on their portfolio.

One specific case where Buffer Token can be utilized is in decentralized finance (DeFi) platforms. DeFi protocols often require reliable and accurate external data sources, such as price feeds. A blockchain oracle, such as DIA, can provide this data in a secure and trustless manner. Buffer Token can be used as a means of payment for accessing these services, ensuring the integrity and accuracy of the data used within DeFi applications.

In summary, Buffer Token has several use cases within its respective blockchain ecosystem, including liquidity provision, governance, and asset management. In the context of DeFi, it can be used as a means of payment for accessing reliable and verified external data through blockchain oracles.

What is DIA's Buffer Token API?

DIA's Buffer Token API is a part of DIA's comprehensive suite of APIs and blockchain oracles. The API endpoints provide real-time price feeds for various crypto assets. These price feeds are generated by aggregating data from over 85 on-chain and off-chain exchanges, resulting in a high-quality and reliable source of price information.

DIA offers both free API endpoints and fully customizable, custom feeds. The free API endpoints are accessible to developers for testing purposes and are publicly available on the DIA App's asset detail pages. These standardized endpoints offer a simple way for developers to experiment with the price feeds.

However, the true strength of DIA lies in its ability to create dedicated API price feeds tailored to specific needs. These custom feeds can be customized in terms of sources, methodologies, update mechanisms, and more. To request a custom feed, users can reach out to DIA via Discord or Telegram.

Custom feeds provide additional benefits and flexibility compared to the free feeds. They allow users to fine-tune the data according to their requirements, making them particularly useful for applications like derivatives, options, futures, lending and borrowing markets, collateralized stablecoins, synthetic asset issuance, money markets, peer-to-pool NFT lending and borrowing, on-chain NFT derivatives, NFT renting, NFT fractionalization, and more.

In summary, DIA's Buffer Token API offers a range of API endpoints, including both free and customizable options. While the free feeds serve as a starting point for developers, the custom feeds provide greater flexibility and versatility for various applications in the blockchain ecosystem. Users can access the free feeds through the DIA App, and for custom feeds, they can contact DIA via Discord or Telegram.

What is DIA's Buffer Token price oracle?

DIA's Buffer Token price oracle is a smart contract that provides real-time price feeds of crypto assets. DIA stands out by being integrated with 35+ layer 1 and layer 2 networks, allowing it to deploy price oracles across multiple blockchains. This integration enables DIA to source raw data from over 85 on-chain and off-chain exchanges, aggregating billions of individual trades.

While DIA offers (free) demo oracles for developers to test, these are strictly for testing purposes and cannot be integrated into production applications. However, DIA also offers the ability to create custom price feed oracles. These custom oracles can be tailored to specific requirements, including sources, methodologies, and update mechanisms. To request a custom oracle, users can reach out to DIA via Discord or Telegram.

DIA's custom oracles have a wide range of use cases within the blockchain ecosystem. In DeFi, they can be utilized in derivatives, options and futures, lending and borrowing markets, collateralized stablecoins, synthetic asset issuance, and money markets, among others. For NFTfi applications, DIA's oracles can facilitate peer-to-pool NFT lending and borrowing, on-chain NFT derivatives, NFT renting, and NFT fractionalization.

Blockchain oracles, such as DIA's, are external information providers that supply verified data from outside the blockchain to smart contracts. They bridge the gap between on-chain and off-chain data, enabling integrated and trustworthy data feeds for decentralized applications.

To summarize, DIA's custom price oracles offer valuable flexibility and customization options for users seeking tailored price feed solutions. Whether for DeFi or NFT applications, DIA's oracles provide reliable and real-time price information to enhance the integrity and functionality of blockchain-based solutions.

Why use DIA's BFR API & price oracle?

DIA's BFR API and BFR Price Oracle offer a range of benefits for users in the blockchain ecosystem. With DIA's technology, users gain access to accurate and reliable price data for cryptocurrencies and NFTs.

The key advantage of using DIA's API or Price Oracle for the cryptocurrency in question lies in the high level of customization available. Each oracle and API endpoint can be tailored to meet the specific needs of decentralized applications. Users can configure settings such as the data sources that make up the price feed, data cleaning filters, pricing methodologies, and update mechanisms. This level of customization ensures that the data and oracle remain robust and resilient, even in unique market conditions. It provides both a global market and specific individual or cross-chain market prices.

Transparency is another major benefit provided by DIA's API and oracles. They offer full and granular transparency across the entire data journey. Additionally, DIA provides tracking and monitoring tools to closely monitor the oracle and API feeds.

In summary, the benefits of using DIA's BFR API and BFR Price Oracle include customizable settings to cater to specific needs, resilience to unique market conditions, and transparency throughout the data journey. These features make DIA's technology a valuable tool for users in the blockchain ecosystem.

Why use DIA data feeds and oracles?

DIA provides full insight on the oracle’s data journey as well monitoring tools to track feeds in real-time.
Oracles can be tailored to any use case in terms of data sources, methodologies and update mechanisms and much more.
Broadest coverage
DIA provides price oracles for 3,000+ cryptocurrencies: from blue-chip tokens to long-tail assets.