The protocol is now at an interesting intersection in terms of development and growth. We just tipped over $18M deposits in our Liquidity program putting us on the #9 spot of the biggest DeFi derivatives protocols in the game. We’re starting to see this incredibly complex protocol coming out of the mist and giving a real overview on the debt of how it all fits together. We’ve defined the protocol right down to every level of detail articulated in the protocol.
We’re moving swiftly towards the end of our LP program and into Pre-Sale on the 14th of October. At that point anyone can come in to purchase the BUMP token and we’re giving our early supporters the ability to convert the remainder of their deposits.
Right after we’ll be smashing into public sale at the end of November and going straight into listings in December.
It’s going to be a hectic next 2 months for us all at the Bumper and as a company we’re staying optimal and top level in terms of where we want to be in the next few weeks.
💥Bumper Numbers💥
Total Liquidity Provided: $18,053,502
Current LP APR: 1050%
Current Token Price: $0.74
Tech Update
- Withdrawal contract is complete and we’ve also added a swap function for pre-existing LPs to easily take advantage of the upcoming Pre-Sale.
- We also added a permit function so a user will no longer have to go through a 2-step process of Approve and Transfer to deposit USDC to the protocol.
- All contracts and updates are being prepared for the auditor and will be reviewed over the next couple of weeks.
- Meanwhile the web2 interface will have some changes to reflect the above and this will include four different flows — BUY, SWAP, DEPOSIT, WITHDRAW.
- We are in the process of preparing the next steps for the design of the vesting contract so all previous investors will receive their BUMP tokens to their assigned ETH wallet. We expect this to be completed in time for the IDO.
Design and Modelling
- Design of the protocol and implementation analysis is reaching its end and this allows us to continue the build in a much more efficient way.
- Agent-based modelling is continuing and with the latest protocol design updates, we hope to be in a position in the next few weeks to adapt the design in response to the results from the modelling.
- We are engaging with a supplier to help model the token better and over the next couple of months we will have a much better understanding of the impact of incentivised emissions on the total supply. This will inform our ABM team on how we can adapt agent behaviour with different token incentive scenarios.
Clarifying Token Pricing
- The APR continues to be a point of discussion and it rises due to the increase in the total deposits outrunning the reduction in time left to deposit into the LP program. All this means is that those who buy now won’t be locked up for as long but they still pay a higher price than those before them so ultimate ROI is still reduced for latecomers.
- APR has always been calculated on predicted price that is linked to the total deposits and in combination with a premium that will be added at the point of Pre-Sale and another added at the point of Public Sale. This is still the case and it is unknown where the price will land at the end of the LP Program.
- As we expect the price to fall a bit short of the maximum we calibrated the program to, we will be providing a bonus opportunity for existing LPs at the point of Pre-Sale. This means they will get an effective discount on the price of the BUMP token at Pre-Sale. Details to follow.
Partnerships
- We have a couple of partnerships in discussion and are approaching the end of our discussions so will announce shortly.
- We’re always looking out for good partnerships so if the community has direct introductions to projects they feel Bumper can benefit from then please let us know.
Have you met our Professors? 👨🔬
Dr Talis Putnins and Dr Nihad Aliyev are probably some of the smartest guys you might ever meet. Nihad may remind you of Jesus from The Big Lebowski in looks but don’t let that fool you. This guy is a cold hard mathematics machine. Both of them eat Knot Theory for breakfast and count Fermat primes to the billions in their head… just to go to sleep. Detailed bios below.
Dr. Talis Putnins
Dr. Talis Putnins is a Professor of Finance at the University of Technology Sydney and Core Member of the Business Intelligence and Data Analytics Research Centre. He has held faculty and visiting positions at New York University, Columbia University, University of Edinburgh, and the Stockholm School of Economics in Riga. Talis serves as a consultant and advisor to governments, stock exchanges, and financial institutions on issues of market structure, has served as an expert witness in legal cases, and undertakes modelling and advisory work in DeFi. His research involves applying economic and statistical modelling together with econometric analysis to problems in financial markets, market design challenges, protocol testing, asset pricing, and misconduct detection.
Dr. Nihad Aliyev
Dr. Nihad Aliyev is a recent PhD from the Finance Discipline Group at the University of Technology Sydney specialising in market microstructure, where he has also held positions as a research assistant and an academic teaching various financial economics subjects. His research interests cover a broad area of theoretical decision making, applications to market microstructure, network economics, information science, and FinTech. Nihad has done economic modelling and strategic advice mainly in the FinTech space and in particular in multi-sided centralised and decentralised networks.
Bumper Weekly Quiz 🤓
Starting next week we’ll be kicking off the week with a BUMP and there’s going to be PRIZES! Yes you’ve heard that right! We’re going to be giving 3 lucky winners 250 $BUMP tokens.
We’re levelling up and taking the community with us.
Office Hours 📽
Check out our Office Hours community call from yesterday where we gave an update on the protocol and answered community questions like:
- What do you think is the most important piece of information to know when telling people about Bumper?
- Is there a maximum premium% set and how fast is that maximum reached in a bear market?
- Which initiatives is the team taking for community growth?
Press / News / Events 📅
Crypto Maxxis AMA — 24 September , 3pm UTC — t.me/crypto_maxxis
Bumper Pre-Sale — Starts Oct 14th 12pm UTC
The Next Bumper Office Hours Update will be live on Youtube at 10am UTC 7 October 21 (ICYMI here’s our previous update )
[Article] BeInCrypto — DeFi is an Oasis in a Desert of Low-Interest Rates
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
