Bumper
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Bumper

AMA Recap: Crypto Eagles x Bumper

Naveed || CryptoEagles:
Hello buddies ! how are you

Jason Suttie:
Hello!

Gareth Ward:
Hi all, thanks for having us!

Jason Suttie:
All good here, thanks.

Naveed || CryptoEagles:
Good to see you here guys ☺️

Jason Suttie:
We had a scorcher of a day here yesterday and today it’s been torrential rain all day!

Naveed || CryptoEagles:
[ GIF ]

Naveed || CryptoEagles:
[In reply to Jason Suttie]
Ahm 💗

Naveed || CryptoEagles:
Are you ready guys

Jason Suttie:
Yep, let’s go

Gareth Ward:
Punch it!

Naveed || CryptoEagles:
First of All let you know !!
There will be three segments
1. Introductory questions
2. Telegram Live Question
3. Last twitter segment

Naveed || CryptoEagles:
First of all, please introduce yourself with us. How and when you have started? How did you get involved in the crypto? What’s your role in Bumper Finance?

Jason Suttie:
I’m Jason Suttie CMO of Bumper. I’ve got an extensive background in digital marketing having built and grown a customer experience agency over 12 or so years, which I exited about 2 years ago. We focussed on really understanding customers and delivering programs and campaigns to engage and mobilise whether bringing a new product to market or driving ongoing relationships.

Jason Suttie:
I actually got into Crypto, and subsequently Bumper, through our CEO, Jonathan. I had a few random conversations with him years ago and saw the potential for a decentralised financial system.

Gareth Ward:
Gareth Ward here. COO and Co-founder of Bumper. Background in Creative Industries / Start-ups / Tech / Crypto. Involved in everything in the business.

Jason Suttie:
I now lead the marketing function of Bumper driving a team who are focussed on gaining exposure for Bumper, designing the customer/user experience and building messaging around how much of a game-changer Bumper will be.

Jason Suttie:
As a marketer it’s really exciting to see the conversation over in our TG group — https://t.me/bumperfinance — really building as we get closer to launch

Naveed || CryptoEagles:
[In reply to Jason Suttie]
Glad to know about you

Naveed || CryptoEagles:
[In reply to Jason Suttie]
Good to hear ☺️

Naveed || CryptoEagles:
[In reply to Jason Suttie]
Guy’s don’t forget to Join !! Must be join

Naveed || CryptoEagles:
Let’s move towards the main facet now

Naveed || CryptoEagles:
2: Now please tell us about your project “Bumper finance” what was the initial thoughts behind this project?

Gareth Ward:
So, Jonathan, my co-founder and the CEO, were looking at the DeFi space and trying to find the pinch points. We came to CDPs, where we thought if you can bring the over-collaterisation ratio down to 100% instead of 150% like most, then that would be great. It started off as a simple concept of swapping to stable and back at a given price floor. That didn’t work because of slippage so then we worked with Sam to focus on that but what came out of those workshops was a price protection protocol so much bigger than expected.

Naveed || CryptoEagles:
[In reply to Gareth Ward]
Ahan awesome buddy ! And best luck

Naveed || CryptoEagles:
Have you done answer guy’s ! Can we move to the next one?

Jason Suttie:
Yep, sorry all done. 👍

Naveed || CryptoEagles:
[In reply to Jason Suttie]
No problem 😌 ! Let’s see next question

Jason Suttie:
Gareth summed it up well

Naveed || CryptoEagles:
3: Most of us are not technical person but we want to understand tech system of bumper finance. Can you please tell us about your tech system in simple words?

Jason Suttie:
Bumper has one main objective: to protect the price of your crypto. This means you don’t have to worry about the bottom dropping out of the market and losing all value in your crypto holdings.

Jason Suttie:
Take this week, for example. If I had $50,000 worth of ETH at the start of the week and this was protected at a 90% price floor, at the bottom of the dip/correction I would still have $45,000 worth of assets even though the price had fallen more than that.

Jason Suttie:
What are we calling this week’s drop? 😂

Jason Suttie:
I can now choose to just sit on it and continue paying the premium, knowing that it will come back up again, and Bumper will follow it back up. Or potentially I could end my policy and rebuy ETH at the lower price, re-protecting as the price comes back up.

Naveed || CryptoEagles:
Great stuff 🙂

Naveed || CryptoEagles:
[In reply to Jason Suttie]
Great thinking 😁

Jason Suttie:
Done. 😉

Naveed || CryptoEagles:
Here is second last question buddy

Naveed || CryptoEagles:
4: please share bumpernomics with its distribution and vesting period? Also tell us about of Bumper in whole ecosystem

Jason Suttie:
Our ‘Bumpernomics’
250m total supply
Circulating Supply at IDO 48.18m (19.20%)
Circulating Market Cap at IDO: $115.2m (MktCap / TVL < 0.77)
Fully Diluted Valuation at IDO: $600m (full dilution estimated 2025)
BUMP token $2.40+ at IDO
Nov IDO/ TGE
VCs & Team on 18 month vesting
$22m+ of Bonus BUMP tokens emitted before IDO

Gareth Ward:
As for the ecosystem, the BUMP token is really important. It acts as the oil in the engine. You will need to stake BUMP to use the protocol, whether a Maker or Taker, and this helps limit bad actors, for one thing. The token is also distributed and used as an incentive layer to help balance the protocol and keep it healthy. We expect to add in more layers of options, depending on how many BUMP tokens you have.

Gareth Ward:
The key concept to wrap your head around is that of economic extraction. Where we can build the importance of the token, then the token holder is aligned with the function and product of Bumper. That way their economic benefit / value is the same as the protocols, and this benefits the users and the token holders (which are often the same people).

Naveed || CryptoEagles:
[In reply to Jason Suttie]
Awesome 😎 . Don’t miss out guys ..
#DYOR

Naveed || CryptoEagles:
Here is last question of first segment guys

Naveed || CryptoEagles:
5: What are your aims in next 2 years according to your roadmap? What if I ask you what is the ultimate goals of Bumper finance?

Jason Suttie:
Right now we’re concentrating on building a liquidity pool to bootstrap the protocol. And this is something you can get into right now by going to our dApp — https://app.bumper.fi

Jason Suttie:
On our roadmap we’ve got:
LP & Private-Sale is currently happening until Oct 14th
Current indicative APR is 611%
Almost $17m already deposited
Deposit USDC & Earn BUMP Swap up to 20% for BUMP
Pre-Sale — Oct 14–21
Deposit USDC & Earn BUMP Swap Unlimited USDC to BUMP
Public Sale and IDO — late November/Dec
DEX / CEX
Protocol Launch — December

Gareth Ward:
We’ve carefully crafted our roadmap, of which partnerships will be key. Our wish-list starts with lending sites like Compound, Maker, Aave — where Bumpered assets used to collateralize loans have zero chance of being liquidated and reduced over-collateralization ratios (since they are less volatile). The biggest partnerships will come from other DeFi protocols that use Bumper i.e a YEARN ETH vault that protects the price at a certain floor, we see this area as massive. After that, partnering with wallets like Metamask, Coinbase, Robin Hood and exchanges like Binance & Houbi, KuCoin. Then Bumpering tokenized stock such as bTSLA and bCOIN and finally an institutional product that brings crypto innovation to traditional finance.

Naveed || CryptoEagles:
[In reply to Jason Suttie]
Something big is coming ! Don’t miss it guys .. Further details to join official group
https://t.me/bumperfinance

Naveed || CryptoEagles:
And best of luck for your project😍

Naveed || CryptoEagles:
Our first segment is over.. let’s we move to the second segment

Naveed || CryptoEagles:
Are you ready @straightboomerang @jasuttie for live telegram questions

Jason Suttie:
Bring it on.

Naveed || CryptoEagles:
I will unmute group for 1 minute with timer of 10 seconds between each text to avoid so many questions

Naveed || CryptoEagles:
It’s time to mute the group guys..

Naveed || CryptoEagles:
Guys you can choose any 5 from it @jasuttie @straightboomerang

Jason Suttie:
Great. We’ll pick out some great questions.

Jason Suttie:
[In reply to Karl Smith]
Great question. We just announced in our live Office Hours that we’re kicking off our Ambassador Program. We have a community of passionate supporters who are keen to help us build Bumper and also ultimately use it to protect their crypto.
We’re also always keen to hear from our community about features of the protocol and take all these on board.

Naveed || CryptoEagles:
4 left ◀️

Gareth Ward:
[In reply to Rabbani]
It was probably the most exhaustive process for all of us. Took months to decide on the name but Bumper kept coming up and it started with the idea of things that protect. A bumper on a car is designed to take the impact of a crash. There were also fun things like bumper cars at a carnival.
We then took the retro 80s idea for branding but wanted to give more gritty 80s vibe, not the fluff of the 80s. As gaming was quite an amazing time in the 80s, we have incorporated an 80s gaming idea like the dApp which is very 8-bit NES style. We actually limited things we could do like drop shadows and pop-ups, etc, to keep within the style.
Then Jason came up with the God-mode for Crypto slogan, and here we are… Hope you like it. We think it’s different to a lot of boring design out there as the concept is new and unique.

Jason Suttie:
[In reply to Mattie Tibbs]
You can currently only get our token through the dApp (app.bumper.fi) when you deposit liquidity. On October 14th our Pre-Sale opens and you’ll be able to buy the token at a price lower than what it’ll be at Public Sale. The Token is a major part of the protocol as you’ll need to stake the token to protect.

Naveed || CryptoEagles:
2 left buddy

Jason Suttie:
Absolutely! When the main protocol launches we really want it to be usable for anyone who is new to Crypto. We see Bumper as being a safety net for traditional investors getting into Crypto. They can dip their toe in, protect their crypto and not be too worried about losing all their money. Volatility is what turns off so many potential investors/users from holding crypto.
You’ll see if you login to the dApp today how simple the interface is, we want to maintain that simplicity.

Naveed || CryptoEagles:
1 left 😎

Gareth Ward:
[In reply to Maryam Batool]
Yeah, it’s always a concern for every crypto project, especially DeFi protocols as it’s a massively hostile environment. We had our smart contracts audited for the LP program and will do for the main build. That will be done by probably the top audit company in the world. Also, we will employ a white hacker to find exploits and create a bounty to incentivise that process for the dev community at some stage.

Naveed || CryptoEagles:
All done thanks buddies @straightboomerang @jasuttie . Let’s move to last segment

Naveed || CryptoEagles:
Here is first question from Twitter

Naveed || CryptoEagles:
By depositing USDC we can farm bump token. Kindly explain the requirements and benefits for farming BumP?
Tg @Eshal013

Gareth Ward:
Quite simply in order to benefit from the Liquidity Provision Program you just need to deposit USDC and for doing that you’ll be rewarded with BUMP tokens.

Gareth Ward:
Because we also want to reward early supporters we’re giving depositors the opportunity to utilise up to 20% of their deposit for BUMP tokens at the current price. The price is linked to the Total Deposited in the LP Program and sits at about $0.73 right now. That will go up as more people deposit and then when we come to the end, we enter the Pre-Sale stage and we will add a 30% premium to the last price during the LPP and that will be the Pre-Sale price. Then, you don’t need to be an LP to buy BUMP tokens. A month or so later, another premium will be set on that Pre-Sale price to establish the Public Sale price. There’s a great opportunity to get in early now and make sure you have BUMP so you can protect the price of your assets when the time comes.

Kamran Akbar:
Great stuff mate 💥

Kamran Akbar:
How often do the rewards get updated?
If i deposit USDC from Day 1, do we get immediately BUMP token? And what about to other people who deposits after 2 days? Do they get same amount of APY?
Tg: @Sukainatalib856

Jason Suttie:
In the LP Program you will get your rewards when you deposit. However the value of those rewards will increase as more people deposit liquidity.

Jason Suttie:
Regarding the APR (not APY as it’s not compounded), if you deposit later you will pay a higher price for the token.
Now, someone who deposits later will get a different APR, and this could be higher or lower. But they will always be paying more for the token so their ROI will be lower. At the moment the APR is about 611% and this is taking into account the fact that there are only 34 days left in the program. There is a nice little bit of game theory buried in the design. ;-)

Naveed || CryptoEagles:
[In reply to Jason Suttie]
Awesome 😎. Deposit LP and get reward🥳

Jason Suttie:
https://www.bumper.fi/lpp

Naveed || CryptoEagles:
[In reply to Jason Suttie]
[ 👌 Sticker ]

Naveed || CryptoEagles:
Can you indicate a feature or feature that you like best about the platform so that it can compete with other competitors? What are you most confident about for your platform? Do you have plans to get users to choose your platform?
Tg
@Ashii55

Jason Suttie:
What competitors? 🤣

Jason Suttie:
Seriously though, currently we don’t think there are competitors who have a product that will protect like Bumper. But there are alternatives. Stop Losses, Options Desks…

Naveed || CryptoEagles:
Guy’s must be join
https://t.me/bumperfinance

Naveed || CryptoEagles:
[In reply to Jason Suttie]
Great

Jason Suttie:
They all have cons that we think we’ve solved, or worked around with Bumper. Options desks are based on a 50 odd year old way of working. Stop Losses trade you out. Bumper is a new way of thinking about downside risk and keeps you in play through the ups and the downs

Gareth Ward,
We joke about no competitors but there really isn’t a similar product out there. There are options platforms and options aggregators but that’s just taking a TradFi solution that was invented in the 70s and translating it into DeFi. We actually utilise the pooling mechanisms that DeFi offers to lower the cost to entry and protect a user’s asset value with a more user-friendly approach.

Naveed || CryptoEagles,
[ 👍 Sticker ]

Naveed || CryptoEagles,
Here second last question ⁉️

Naveed || CryptoEagles,
What are the risk management policies that project uses to safeguard the investments and credits granted by its platform? How do you really ensure that there is a backup base to rely on in the face of any situation or sudden change in the commercial markets?
@AyeshaY42340213

Gareth Ward:
I think this is the wrong question, really. The protocol is all about risk management and risk distribution. It is designed to deal with sudden change and is your safeguard. The Makers effectively “buy” the risk but we put in place a Capital Reserve that backstops the Reserve, to support in case of black swan events, etc. The risk is only realised by the Maker upon withdrawal at an inopportune time in the market. Kind of like impermanent loss, it only becomes permanent when you choose.

Naveed || CryptoEagles:
Here is last question man

Naveed || CryptoEagles:
May I ask what is the use case of BUMP token inside the protocol? High yield gods mode bump token sale and farm may seem attractive but unlike other governance tokens comp and aave, bump @bumperfinance @LayahHeilpern never mentioned use of the token.

@itziqra

Gareth Ward:
The BUMP token is an integral part of the Bumper ecosystem, and along with the near-zero slippage engine, reserve rebalancing system, and multiple layers of redundancy, BUMP tokens further assist in maintaining the resiliency of the protocol.

The token is woven into every facet of the platform and is the first entry point to the Bumper ecosystem — since both price protection “Takers” and liquidity providing “Makers” need to deposit BUMP tokens to begin interacting with the protocol.

We’ve written an article on our Medium which goes into much more detail on this:
https://medium.com/bumper-finance/the-bump-token-economic-incentives-and-network-effects-c435b67b742

I also talked a bit about it with @LayahHeilpern in this interview — https://www.youtube.com/watch?v=7QVAyL4rsKE. We haven’t officially released this video but @jasuttie has authorised it exclusively for you guys. 😅

Naveed || CryptoEagles:
Thanks for your precious time @straightboomerang @jasuttie ..

Jason Suttie:
Thanks for having us

Naveed || CryptoEagles:
Guy’s must be join

https://t.me/bumperfinance

Jason Suttie:
You can follow me on Twitter here: https://twitter.com/CryptoPylot
And Gareth — https://twitter.com/s_boomerang

Otherwise…
Stay Connected to the Bumper Project:
Join our Telegram — https://t.me/bumperfinance
Follow us on Twitter — https://www.twitter.com/bumperfinance
Join our Discord — https://discord.gg/YyzRws4Ujd

Participate in our LPP — https://bumper.fi/lpp

Gareth Ward:
Thanks all! Thank you for having us and please do check us out and make sure you head over to app.bumper.fi and deposit some USDC for BUMP rewards and an option to buy!

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Bumper

Bumper

Bumper protects the value of your crypto using a radically innovative DeFi protocol.