On September 13th, May, Head of business strategy from VolareFinance has attended the AMA held on Discord. In this AMA, she introduced what VolareFinance is, its benefit and things to pay attention to during the competition.

Before the AMA, we also collected questions from our global community. Finally 10 users were selected to share the $150 rewards. May also answered the questions in detail.

Have a quick recap below now.

1. What is VolareFinance?

The Option Protocol Built for Crypto Volatility Markets.

The Volare Protocol is a Decentralized Option Trading platform. The protocol implemented a fully functional structured option product with features like Margin, Liquidation, index, and portfolio management.

The protocol also supports option strategies, like a straddle, spread, or combo. The options inside a single strategy bundle share the same expiry and will be settled simultaneously. To hedge the Short options with partial collateral, one can deposit Long options into the same strategy bundle to eliminate the risk of operations in cryptocurrencies.

The operation method adopted by Volare is different from the mainstream Defi products on the market. Uniswap, one of the most commonly used decentralized exchange protocols, uses the AMM(Automatic Market Making) method to accomplish trade. The problem of AMM is the low utilization of the token pool. To improve the experience of trading. Volare has implemented a decentralized order book aggregation engine, which improved the experience of options trading.

Volare Protocol also introduces a Portfolio module. It is a DAO organization led by professional agencies and traders to purchase various assets, even more than options.

The Exotic option is another critical feature of the Volare Protocol. It adds the richness of the option types. Combines with options strategy and a community-driven Portfolio DAO. The risk of cryptocurrency can be lowered significantly.

The methodology we are taking is applied to cryptocurrency for now, but we embrace more possible applications to let our protocol benefit more.

2. What is VolareFinance's Testnet?

VolareFinance testnet was launched on Avalanche Fuji at the end of June and has been live so far.

Testnet: https://fuji.volare.lol

Check the following instructions to join the Testnet:

Step 1: Import Avalanche FUJI C-Chain Testnet to Your MetaMask

Step 2: Connect MetaMask to Avalanche FUJI C-Chain

Step 3: Import or Swap Tokens

Guide: What's New in Volare Testnet? Check the User Guide Now

Video Tutorial

3. How to participate in the VolareFinance Testnet Trading Competition?

Time: From Sep 20 to Oct 20 (UTC)

Total Rewards: 5000 USDT

There are a few simple steps as well:

Step 1: Users should apply for a “Tester” role by filling in the form.

Step 2: Each tester will be given testing tokens to join the competition.

Testing tokens include 1,000,000 USDC, 1,000 ETH, and 50,000 AVAX.

Step 3: Log in to the website of the competition.

Enjoy the journey.

4. What are the rules of VolareFinance Testnet Trading Competition?

1) Users can experience any of the live VolareFinance’s products, including European Options, Portfolios and the upcoming margin trading feature.

2) Each tester will be given 1,000,000 USDC, 1,000 ETH, and 50,000 AVAX testing tokens. The USDT testing tokens are only available on Volare Finance Testnet. It would be invalid if a user transfer to other personal accounts.

3) Testers should trade on Volare Finance Testnet within 1 month.

5. What's the reward of VolareFinance Testnet Trading Competition?

Some additional rewards, like nfts or altcoins might be available as well, as we have quite a few partners who are sponsoring the event.

Winner List of AMA

(the list shows the winners'

discord handles. Winners are selected from the users who had asked questions in the #question channel.)

1. quyvuong15
2. Urchestra
3. 三个鸡蛋
4. GdMkClub
5. Jude
6. Januzaj 
7. IvarTheBoneless
8. Crypto Jing
9. umar1990
10. cryptolawd

Read more  Volare FAQs

Please feel free to direct any question to our admin (HugMaker#6121) on Discord.

About Volare Finance

Volare is a leading provider of option trading, who provides a transparent, trustworthy, and convenient decentralized mechanism without intermediaries on option trading which can imitate the serviceability of centralized exchanges.

Volare’s DeFi protocol creates a perfect solution for trading options in crypto. It provides a DeFi option protocol for European options, option combos and exotic options. It also allows investors to invest in standard or customized option strategies portfolios, and provides clients tools for hedging, speculation and yield enhancement based on its infrastructure.

Find us at Testnet/Website/Telegram/Twitter/Discord