It’s been an exciting time these last 2 weeks at Bumper. With the Pre-Sale coming up we’ve been ramping up the pressure to give you the best of us for the upcoming events! With that said we’ve had many new updates for you covering the community, marketing and technical side of Bumper!
If you missed our last Office Hours check out our Public Service Announcement, featuring the Goomba.
At 8am UTC on October 11 we will no longer be accepting deposits into the protocol or the opportunity to buy tokens within the Liquidity Provision Program. With almost $20m already deposited, and well over a thousand supporters taking up the opportunity to get BUMP tokens, we have a really solid foundation to build from.
Deposits will re-open when the Pre-Sale starts at 12pm UTC on October 14. This pause also gives us time to implement and test the technical updates required for the Pre-Sale and phase two of earning rewards. Supporters who deposit into the LP Program will also earn a Bonus at Pre-Sale.
Total Liquidity Provided: $19,813,668
Current LP APR: 3,000%+
Current Token Price: $0.75
From a tech perspective the last couple of weeks have been focused on preparations for the upcoming smart contract and UI upgrades to support the next phase of BUMP emission to the growing community. We’ve completed updates to the UI, front-end and, of course, the smart contracts which are in the final days of their audit. We’re currently locking down our deployment plan and adding some finishing touches for the mobile version.
We’ve also added a couple of ergonomic features that are sure to please any existing LPP participants:
- We’ve added the ability for users to interact with the smart contracts in a single transaction rather than the two-transaction flow we had earlier.
- The front-end will support a whole range of hardware and software wallets beyond metamask.
Design and Modelling
We’ve shared the Bumper protocol design with an expanded set of partners and peers for review, and the feedback has been overwhelmingly positive… phew! With so much technical, economic and even philosophical design and discussion that accompanies the Bumper protocol, our CTO has split the whitepaper into three core papers, each focusing on a different aspect of the design and its implementation, and each intended for a different audience: A Whitepaper, Greenpaper and Orangepaper. There’s also an internal Bluepaper that is specific for modellers, and a replacement for the Flashpaper (a Litepaper) is in the works. White and Orange and Blue and Green… Oh yeah! We’re now considering changing our CTO’s nickname to Rainbow Warrior, Rainbow Unicorn, Chief Pantone Operator, or anything else the community might feel best describes his penchant for coloured tech papers. Our public tech documentation will also be populated as we release them over time.
Team and Partnerships
We’ve secured a number of key roles after a lot of exhaustive interviews and everyone is extremely pleased with the calibre of our new team members. It took a while to find the right stuff, but it was well worth the wait. We now have a full complement of technical and operational staff who are settling into our operating rhythm with most of the attention on the October 14th threshold.
Previously we also hinted at some partnerships that were in the works. One of those is now official; Panther Protocol. Together, Panther and Bumper are aiming to provide DeFi users with a seamless and private DeFi user experience. Bumper will integrate Panther’s solution to provide users of Bumper’s unique asset protection protocol a “private-by-default” experience, while also enabling them to selectively disclose transactional data with counterparties and institutions whenever they wish. Read more on Medium.
One of the most anticipated events for the Bumper community is coming up! On October 14 at 12pm UTC the Bumper Pre-Sale opens to protectors and visionaries alike. We’re giving our project supporters the chance to purchase BUMP tokens before the Private Sale and IDO.
Existing liquidity providers will be able to swap some of their USDC as well to collect more BUMP tokens. The Pre-sale will run until October 21 or until all BUMP tokens are sold out, so make sure you’re early as we expect demand to be huge!
With our pre-sale coming up and the launch of the giveaway we’ve seen significant growth in our community! We’re happy to announce that our TG group has reached over 12,000 members with Twitter being closely behind at over 10,000 followers! The team would like to thank you all for your continuous support and we’re all Bumped up for the Pre-Sale starting next week!
BUMP Token Price
Token pricing is always a difficult one to work through. The protocol and token holders benefit from a high token price but this is curtailed by the fact that it can create an overvalued market cap upon listing. This is a key indicator for many investors, and listing platforms, so managing expectations and, therefore, the price, is all of a sudden like being a frog in a sock… you can jump around but there’s always something holding you back from getting to where you want to be.
It’s for this reason, we’re carefully looking at the token price from pre-sale to public sale and beyond so it doesn’t suffer major price dumps and the demand pressure remains. Having said that, the protocol benefits from many people acquiring BUMP tokens so we can generate that all important network effect. That, however, conflicts with the above as the more in circulation at listing, the more likelihood of dump. There’s no point pushing a price beyond what the market will bear.
While the open market does decide, we can only do what we can to assist in developing an ‘in-demand’ token. While this is not an exact science and we appreciate people’s frustrations with clarity on pricing, we can assure you we’re on the same page as you and keen to see the success of the token sooner than later!
Remember, it’s all about protecting your ambition and you’ll need BUMP to do that. Avoid the Goomba and hodl that BUMP!
Earn: LP Farming 2.0
On October the 14th at 12pm UTC (same time as the start of the Pre-Sale), we are ending this first version of LP Farming and immediately entering a new phase we affectionately call ‘LP Farming 2.0’. It will be a different style of approach than the current LP Program and will involve fortnightly epochs. If you deposit USDC before the start of the epoch and keep your money in till the end of the epoch then you will receive your share of the USDC rewards (100% goes to the LPs in the epoch), and you will also receive a share of the fortnightly BUMP token distribution, prorated to your minimum holding during the epoch.
“Hang on, does that mean only the LPs from the current LP Program are the only ones that have a chance to participate in the very first epoch?”
So, if you deposit your USDC one minute past 12pm UTC on October the 14th, you will get pushed back to the next epoch in two weeks time. Be patient, your time will come. You can always withdraw but beware of the evil gas fees!
So, with some carefully considered corporate speak, here are some “key takeaways”:
- LP Farming 2.0 starts on October the 14th at 12pm UTC.
- The epoch will run for two (2) weeks and then the next epoch begins for another two weeks immediately after, and so on.
- All USDC rewards from the Yearn vault will go to the eligible LPs for that epoch.
- You will also earn BUMP rewards for staying throughout the epoch.
- If you leave early, before the end of the two weeks, you will not receive anything.
- If you only partially leave early, before the end of the two weeks, you will only receive rewards related to the lowest amount you kept in the epoch.
- Eligibility is based on full commitment of a minimum amount.
- You can withdraw at any time but you will forfeit your rewards related to the amount you withdrew.
The Bumper Sky Lounge
If you haven’t found out yet, Bumper has an exclusive community! The Bumper Sky Lounge is a group open to Bumper Sentinels HODLing at least 1,000 BUMP tokens!
Besides chillin’ with the core team and sipping martinis, members of the Bumper Sky Lounge will receive access to a number of exciting benefits, incentives, and perks that will only be available in the Sky Lounge.
For those of you that currently have vesting schedules and did not receive their BUMP tokens yet, don’t worry we didn’t forget you for being our early supporters! We will be airdropping you a special Bumper Sky Lounge Pass NFT to your wallets that will give you access to the Sky Lounge!
Check out our Office Hours community call from yesterday where we gave an update on the protocol and answered community questions like:
- How is Bumper different from other Crypto options platforms such as Hegic and PowerTrade?
- What is the development roadmap of the project?
- Are you planning to support bumper groups in different languages?
- What happens to liquidity if too many people swap their USDC to Bump tokens?
Press / News / Events 📅
Crypto Talksz AMA — 8 Oct , 12pm UTC — t.me/Crypto_Talkzs
Bumper Pre-Sale — Starts Oct 14th 12pm UTC
The Next Bumper Office Hours Update will be live on Youtube at 10am UTC 21 October 21 (ICYMI here’s our previous update )
[Article] Panther and Bumper Partnership — https://www.investing.com/news...
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.
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