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?
Jonathan:
I’m Jonathan DeCarteret, CEO and co-founder of Bumper. Since graduating with a degree in AI I have been building and selling tech companies, most notably ‘Switch’ — the UK’s 60th fastest growing company.
Sam:
Hey, I’m Sam, CTO of Bumper. I’m an engineer. I like computers. I’ve been working with blockchains for about 6 years now. They’re very interesting.
Now please tell us about your project “Bumper finance” what was the initial thoughts behind this project?
Jonathan:
We founded INDX, a previous crypto CeFi yield farming fund, that was focused on MN’s/ Lending/ Staking — passive income fund.
Then in 2019 we started to see the emergence of DeFi, which was really emblematic of why we got into crypto. Automated smart money, low latency, high frequency ecosystems that are composable and frictionless. We wondered if such an ecosystem could be proposed to solve the holy grail problem of volatility. After a nine month scoping and design , Bumper was finally born.
Set the price floor of the crypto asset you want to protect and within 6 clicks you can forget about price drops
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?
Sam:
Tech” can mean a few different things… probably the most relevant thing to cover here though is Bumper’s cryptoeconomic design. If you consider just ETH (which is what will go live in v1.0), Bumper works by accepting both ETH and a stablecoin into two main pools (ETH deposits represent protection positions)
The system then records new ETH prices, measures volatility, and maps this price signal into an expected future liquidity.
This is the basis for a charge that is applied to ETH depositors, for the benefit of USDC depositors.
In the event of high volatility, claims are able to be made on the capital pool.
Over time, the system ensures that a fair price is paid on the ETH side, and a fair yield is paid on the USDC side.
Please share bumpernomics with its distribution and vesting period? Also tell us about of Bumper in whole ecosystem
Jonathan:
Our ‘Bumpernomics’
250m total supply
Circulating Supply at IDO 48.18m (19.20%)
Dec IDO (est)
VCs & Team on 18-month vesting
Token Emission:
- 3.5% for Private and Pre-Sale
- 1.5% for Farming (any remainder added to Pre-Sale)
- 3% for Public Sale
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?
Jonathan:
Bumper to become a Top 3 DeFi protocol.
Bumper as the default protection building block, in DeFi, CeFI, TradFi, NFTs and the Metaverse and beyond
FULL ROADMAP
2021 Q1: [Design & Raise — [Completed]
$10m+ Fundraise (over $32m USD oversubscribed).
2021 Q2/3: R1a Launch [Completed]
Detailed whitepaper
Agent-based and game-theoretic modelling for proving cryptoeconomic design
Modelling of token economics (i.e. token liquidity and treasury forecasting)
Dual independent smart contract audit.
July 14th: Release 1a for Liquidity Providers (“Makers”)
Target TVL for initial release $20m USD.
BUMP UTILITY: TOKEN FARMING
2021 Q4: [In Progress]
Farming V2 incl. USDC & BUMP farming
Public Sale November 23rd
IDO December 7th
BUMP UTILITY: TOKEN FARMING/ STAKING
2022 Q1: [In Progress]
(On-Track) Version 1.0 Bumper protocol launch
Retail go-live via Bumper DApp.
Partnership announcement and integration with major DeFi protocol.
Continued work on improved Bumper protocol capital efficiency via integrations with:
CDP lending sites (Aave/ Maker/ Compound)
Wallets (Metamask/ Coinbase)
Centralised exchanges (Binance)
Decentralised exchanges (Uniswap/ Sushi/ Balancer)
Synthetic assets (Synthetix/ Mirror)
Derivatives (Barnbridge/ Nexus/ Vesper)
BUMP UTILITY: TOKEN FARMING/ STAKING/ USER INCENTIVES/ PROTECTION TAKER PAYMENT/ PROTECTION MAKER YIELDS/ GOVERNANCE
2021 Q4: [Scheduled]
Expanded asset protection whitelist to include:
Major large-cap ERC-20 assets
rBTC/wBTC
bCOIN, e.g. (bTSLA/ bAPPLE/ bGOOG)
Expanded stablecoin compatibility (BUSD/ USDT/ DAI)
2022 Q2: [R3 Launch — ON ROADMAP]
Interchain interoperability (e.g. BSC/ ETH L2)
KYC integration for traditional institutional and retail adoption
[Proposed] Regulated Custodian — AML/ CTF compliant custody solutions (e.g. Bumper-branded, via partners or white-label solution) for management of institutional and retail crypto-assets, including a fiat-stablecoin bridge.
[Proposed] bUSD — an aggregated, counterparty-risk-diversified stablecoin for DeFi.
*Twitter Segment*
What makes you feel confident about the survival & sustainable success of Your project in the near future? Do you have a Token Burning plan to increase Token value and attract Investors to invest?
Jonathan:
$2trn Go To Market Strategy. The Bumper protocol becomes more efficient and robust as the TVL and token price increase. After achieving critical mass, its becomes the default protection protocol. The native BUMP token has many utility layers: Protection taking, yielding, network incentivization, staking and Governance.
Sam:
Token burning is definitely something we want to do; it will be something that will be decided by the community after the protocol has reached a degree of maturity.
What is your top priority for 2021? Can you and your team members share a bit about the strategy that Bumper Finance will implement in the near future? What makes the team feel confident to win in the long run?
Jonathan:
Bumper has already attracted over $30m in liquidity provision and funding. Our plan is to attract a critical number of retail investors, then plug into other DeFi protocols, institutional crypto traders, traditional institutions that need to protect crypto on their balance sheet and then tokenized equities and traditional equities. This is a protocol that will expand with the market.
Sam:
There’s also lots to drop in the near term; litepaper, whitepaper, docs site, community governance forum, various modelling results…
Collaboration and partnerships are one of the cornerstones to making DeFi more widespread, Can you share some of the partnerships you have formed with existing blockchain foundations recently?
Jonathan:
Bumper has engaged various modellers, economists and specialists to bring the product to market. Being realistic, other DeFi protocols from lending sites, to derivatives to synthetic assets and derivatives will need to see proof of concept before we can integrate. But we are talking to those guys.
Sam:
We are also pretty pumped about some upcoming extensions to Bumper via partnerships that we feel are going to provide a lot of unique value to a wider user base. I think the project is very lucky to have the shortlist partners that it does (not yet made public); we’re working with them to schedule in when our core team integrates things like privacy preservation tech with selective disclosure and integration with decentralized wallets (data ownership, social recovery, etc).
How important is the community to you?
Jonathan:
Massive- Bumper will live or die based on how it can attract a community of users that not only believe in Bumper, but who use and benefit from it.
Sam:
I think it’s important to reiterate here what these kinds of projects are all about: they’re public software utilities that are used (and owned) by a decentralised community of users. It’s not about the community being important to any one person — it’s about Bumper being important to the community.
Jonathan:
We also want to mention the exclusive community post here aswell https://twitter.com/bumperfinance/status/1443339511510020103
Your project name seems to be very interesting. Does it have any story behind it? Can you share us with the inspiration for approaching to this name?
Jonathan:
Volatility is the holy grail problem that keeps money on the sidelines and prevents institutional participation. When we solved for volatility, we wanted a name that wasn’t scary, because we wanted the protocol to be accessible and simple to use. We spent 3 months in a systematic approach with our CMO to articulate the core values and, well, Bumper was just the perfect fit.
*Live Segment*
Can you tell us about your plans for long-term? what you are currently working on?and what strategy will be used to expand globally
Jonathan:
Bumper has a time horizon that spans decades. This is a new and ultra-efficient approach to solving for volatility. So when evaluating the token price, investors need to consider the exponential go to market strategy that is before Bumper
When will your tokens be listed on the exchange and which exchanges do you plan to list on in the future?
Jonathan:
December 7th 2021. Listing on UniSwap | SushiSwap | KuCoin (advanced discussion)
Do you guys feel satisfied by seeing your progresses and achievements till now, when you look back to the day when you have started this project?
What is the role of token in your ecosystem? Could you tell us a bit about the tokenomics of your project???
Sam:
BUMP is required to access Bumper; this is done by depositing some BUMP into the protocol for the duration that it is used.
In the early days of the protocol launch, there will also be further early adoption incentives, which may exceed the amount of BUMP required to lockup.
Where can I currently buy Token?
Jonathan:
Bumper.fi | Deposit Liquidity and swap up to 20% of your USDC for BUMP. You’ll be able to swap the remainder on Oct 14th Pre-Sale and also receive a 10% BUMP bonus
About Bumper
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:
Join our Telegram — https://t.me/bumperfinance
Follow us on Twitter — https://www.twitter.com/bumperfinance
Join our Discord — https://discord.gg/YyzRws4Ujd
Visit our Website — https://bumper.fi
