AMA Recap: Crypto Talkz x Bumper
Could you describe Bumper Finance and give us an introduction to the project?
First off, Bumper is like having God-Mode for Crypto. For anyone who plays arcade or console games they’ll know the idea of God-Mode. It makes you invincible against the enemy.
Bumper does the same thing where the enemy is volatility.
It allows you to protect the price of your crypto and protect it from dumps. But at the same time you can still ride the pumps, unlike a stop loss.
At a basic level it’s really simple. Obviously there’s a heck of a lot of complexity behind that, but to the user it’s super simple.
Brilliant idea! Tell us, What are your main features that distinguish you from other projects and what competitive advantages do you have?
For me, it’s the simplicity of how easy it’s going to be to protect your crypto. In the protocol walkthrough we created earlier in the year it was about 6 clicks to protect.
Check it out on YouTube
In future we see this simplicity being a major bonus when we look to integrate with other systems. Imagine a Bumper button on your favorite wallet or exchange app where you could tap it and the asset you just aped in on would be protected from the outset.
As for competition, 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. These are really old tech. Bumper is next generation.
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 utilize 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.
Bumper is a new way of thinking about downside risk and keeps you in play through the ups and the downs.
So, How has the experience and background of your team been effective in the success of your project so far?
When it comes to our Team, we are proud to say that we’ve gathered some of the best people in the industry for their positions. We strive to provide excellence in what we do and I’m happy to say we’ve got amazing work dynamics at Bumper. We’re very dedicated, passionate and supportive of each other with years of experience combined in the Blockchain space. We also enjoy a diversified team from all over the world which enriches us with different knowledge and culture.
So far we’ve had amazing success from all sides of the project and we’re super pumped for the coming months leading into our Pre Sale, Public Sale and IDO.
Are you working on any partnerships or marketing initiatives to help build awareness for your platform?
On the marketing side, we’ve had great progress. We’ve seen massive growth across all our socials and we launched several marketing initiatives recently.
People are really starting to understand the value.
Our Pre-Sale Giveaway is currently happening and you’ll get a chance to win over $10,000 worth of rewards! You can find more information about here https://win.bumper.fi/pre-sale
We’ve actually recently announced our Partnership with Panther. Together, Panther and Bumper are aiming to provide DeFi users with a seamless and private DeFi user experience.
Apart from that we’ve got a lot of new partnerships in the pipeline and we’ll be announcing them at a later stage!
And lastly, What are the future development plans for Bumper Finance?
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.
And on timings:
LP & Private-Sale is currently happening until Oct 14th, 12pm UTC next week
Almost $20m already deposited
Deposit USDC & Earn BUMP Swap up to 20% for BUMP
Our Pre-Sale is starting next week on Oct 14 until 21 October. You can find more info here on how to participate https://www.bumper.fi/pre-sale
Public Sale and IDO — late November/Dec
Listing on UniSwap | SushiSwap | KuCoin (advanced discussion)
Community support is one of the biggest aspects of a project’s success. Most projects have programs that interact with their users. Does you have any special plans to attract and expand the community and improve the user experience?
At Bumper, one of our core values is the community. We believe when it comes down to project success, the community plays a big part in that role. We’ve been actively building on growing our community and attracting new users to Bumper.
Currently we have the Ambassador Program live where we aim to attract core supporters for Bumper. Also we will be soon setting up International Bumper communities in different languages to accommodate all our supporters from all over the world.
We’ve also started our Team Office hours (on YouTube live) where we discuss directly with the community all new updates and host a live Q&A to hear what our communities thoughts and build on constructive feedback!
We like to look at our community as if they are part of our family. We thrive for community engagement, feedback and always enjoy making sure all our members are happy and satisfied in our community! 😊
If you have any questions feel free to join our community we are happy to help.
To protect your assets, BUMPER locks your cryptographic assets to protect them from market crashes. But if my assets placed inside the protocol were to rise in value, could I recover them quickly? If assets are placed inside the protocol, do I as the user lose control over them?
If you’re not in the mandatory lock-up period then you’re fine to remove. The bETH is a representative token that represents your portion of the asset pool. The assets go out to vaults but they are accessible at any time.
As Bumper is part of the ERC20 network, then it will only protect the assets of the users of this network, or do you plan to expand to multiple networks in the near future?
Yes, we are looking to expand to other networks but ETH is the primary one for now. We also will look to move to a Layer 2 solution to minimize gas costs and speed it all up.
Using #Bumper is a bit like a “God-Mode cheat code” for our Crypto Assets. So as a newbie, please explain what do you mean by #GodModeCheatCode and elaborate more on how are we gonna Protect our Crypto with #Bumper?
In terms of ‘how’, you basically log into the Dapp, connect your wallet, choose the asset you’d like to protect and at what price floor and that’s it! You pay a premium while you’re protected.
Our new video best explains God-Mode: https://youtu.be/Q0tUOPgAUwA
Any plan to add more features in your platform like staking -lending -buyback or mining with your tokens? What other ways to enjoy?
Staking and bonding will be inherent in the design. We have an LP farming program at the moment and will continue that for some time. The token is instrumental to the protocol, for the user and the balancing mechanisms, so we don’t need to use artificial things like burns, etc, to bring value to the token holders.
We also have our Sky Lounge which is an exclusive group for BUMP supporters who hold more than 1,000 tokens. As well as closer access to the team there are other benefits such as early access to features, check it out:
There are investors like me who likes to invest tokens for long term. Could you please explain why should I buy and hold your token in the long term?
We’re really keen to reward supporters who are in this for the long term. We’ve baked utility of the token right into the protocol to drive more value as the protocol expands. In time, the BUMP token will also play a role in the governance of the project.
How do I buy bumper tokens? Can I trust this project, how you secured any audits and do you have any app?
You can get BUMP now during the LP Program. Follow this link: https://www.bumper.fi/lpp
You can trust this project, absolutely! We have had all contracts audited, released the report from the last deployment and we’ll be releasing one soon again, before the Pre-Sale happens.
Oh, yeah, the Pre-Sale starts on Oct 14 at 12pm UTC and will have a bit of a premium for that from the price right now.
No native app but you can buy via Metamask app, for instance.
Can you briefly Describe your top milestones that you have achieved so far?
We’ve got a long way to go in terms of delivering on our goals but already we’ve brought in $10m through VCs, then there’s another almost $20m deposited through our LP Program which helps to bootstrap the protocol. We’ve also got a huge growing community who are really active.
Will your project supports any yield staking and farming in the near future?
It currently supports farming and staking/bonding is in the design so, yes!
Does your project already have AIRDROP open?
We’re not running any airdrops, but we’ve got a chance to win tokens through our Giveaway. All you need to do is share, like, and take other actions to earn entries — https://win.bumper.fi/pre-sale
Its time for Wrapping Up, any last words you would like to say to the community?
You can follow me here: https://twitter.com/CryptoPylot
And Gareth — https://twitter.com/s_boomerang
Join the whole team for our Office Hours every other Thursday. The next one will be on the 21st Oct at 10am UTC!
Bumper protects the value of your crypto using a radically innovative DeFi protocol. Set the price you want to protect and if the market crashes, your asset will never fall below that price. Importantly, if the market pumps, your asset rises too.
Stay Connected to the Bumper Project: