Bumper and Metis Announce Partnership to Provide Seamless Trading Experience
Bumper, the new DeFi protocol which protects crypto assets from price volatility, and Metis, the Layer 2 protocol for Ethereum, are working together to deliver a better user experience for Bumper’s community.
Bumper’s solution provides a “Set and Forget” solution for users’ assets deposited with the protocol. Bumper is a pure, decentralised market for on-chain asset price volatility. Users set a floor price, and if the market crashes, their asset will never fall below that price. Importantly, if the market pumps, their asset rises too.
Protected positions incur an incremental, floating premium based on asset price movements. This in turn is used to incentivise the complementary side of the market, wherein depositors may supply stablecoin into a liquidity reserve and earn a yield.
Dubbed “God mode for Crypto,” user positions in Bumper are managed on aggregate, slashing transaction fees, and dynamically adjusted using a novel four-pool design.
However, relying entirely on Ethereum mainnet presents some painful bottlenecks.
Metis’ solution seeks to excel where other Ethereum Layer 2 solutions have caused Ethereum projects to hesitate moving to Layer 2. The team at Metis are laser-focused on practical solutions for Ethereum developers while ensuring full functionality, scalability, and security.
Bumper and Metis will be working together to ensure the necessary tooling will be in place for Bumper’s full protocol launch in Q1 next year, paving the way for more DeFi protocols to follow Bumper’s lead.
The partnership will seek to deliver both fast transactions, and cheap gas prices for Bumper’s user base, as well as enable native access to Bumper’s price protection protocol for the entire Metis community.
“Layer 2 solutions fundamentally address the issue of scale and we at Bumper believe Metis have an answer to that problem and we’re very much looking forward to working with them as we bring our DeFi protocol to market.” — Gareth Ward, COO & Co-founder at Bumper.
This announcement couldn’t come at a better time as the Bumper public token sale is announced and scheduled for December 9th. So far, $17.5 million has been raised, and this public sale will have 7.5 million tokens available.
The Bumper protocol is a pure, decentralized market for on-chain asset price volatility. Users of protection set a floor price, and if the market crashes, their asset will never fall below that price. Significantly, if the market pumps, their asset rises too.
Protected positions incur an incremental, floating premium based on asset price movements. This, in turn, is used to incentivize the complementary side of the market wherein stablecoin depositors may supply stablecoin into a liquidity reserve and earn a yield.
Metis or MetisDAO is a decentralized autonomous organization and an Ethereum Level 2 rollup providing various services for users, companies, projects, and organizations. These services are NFT storage, minting NFTs, and swapping tokens. The unmatched features like low gas fees, safe storage, no-code integration, and low swapping prices also add value.
They provide simplicity and scalability for various projects hosted on Ethereum and act as a Web 3.0 economy hub. Metis helps apps and businesses migrate from Web 2.0 to Web 3.0, making them an excellent solution for dApps. Yield farming, DEX trading, assisting the gig economy, freelancers support, and many others are part of their portfolio, making them a true gem in the decentralized Web3 ecosystem.
Check out more about Metis on their website and social media: