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Bumper: Sitrep #008

Greetings Sentinels!

Following our first Office Hours of the year, here’s the first Sitrep of 2022… #008.

2021 concluded with a ‘bumpy’ start to the BUMP token listing on Uniswap. If you followed this process you’ll be aware of the challenges and issues we had with the listing. We’ve spent a lot of time understanding the actions we needed to take and reviewing the position and structure of the pool on Uniswap. Following this, we’ve shared our thoughts and position through updates on Telegram and in a focused Office Hours call.

We are continually looking at ways to manage liquidity that support our aims for Bumper. We’re also working on strategies to control token emissions to help mitigate consistent sell pressure. This is not only important for the users but the health of the protocol as well.

Focus

The immediate and primary focus for the Bumper team is that of the protocol build and community development. The build continues as planned as we work to refine the roadmap for the next 4 sprints. Once completed, we’ll implement a program of tech dissemination to the community so we can offer more transparency. In the meantime, however, here are the details of some future deployment that’s been developed and is ready to go. If you want to see the list of deployment features and fixes since December 16 then check it out here.

Features Developed and Bug fixed till Jan 19, 2022

  • Added functionality of Restake and Unstake for public sale participants which will be enabled on March 16 at 12 pm UTC.
  • Developed a swapping interface for the protocol [bug fixes pending].
  • Made progress on Premium calculations for the protocol.
  • Made progress on a Unified History service for the Dapp.
  • Fixed a slow loading issue on Staking page [to be deployed soon].
  • Completed designs for the Protection Flow and Market in the dApp.

This leads us to the next main focus… community. We have certainly suffered a common problem in the tech world in that we get so focused and buried in the technical build that we don’t lose focus on the communication required for our community. We recognised this failure numerous months ago and set about rectifying that with a more formal community management approach and manager. Unfortunately this has not worked out and not for lack of trying.

But with the new year, we’ve decided to look at our weaknesses and stop approaching them in the same way and take a completely different approach. The first of which is that we have now signed with a specialised recruitment and HR company that embeds with our team full time to build out our team through a more organic approach to recruitment. They also help to build the long-term processes for recruitment, define our employer brand and establish a more sophisticated onboarding process to better equip new team members.

To kick off, we’re looking at an initial three new team members to fill those critical gaps:

  • Operations Manager
  • Head of Community
  • Senior Solidity Engineer

So, if you know of anyone with the requisite skillsets, or are that awesome person, please reach out to careers@bumper.fi. We’ll have a careers page on the website soon and more roles will come. We’ll give more info in the next Sitrep so get your CVs updated, pick out your best retro t-shirt and just be excellent!

Bumper’s Bounty Campaign has Concluded!

Kicking off with some big BUMP Reward news, we’ve announced the winners of the Bounty campaign we ran last year.

Did you win? Find out here.

Stake and BUMP

Supporting the Bumper project via Staking has been a long-requested feature from the community. Originally, staking wasn’t due to feature until Release v1.1, after the main protocol launch. With the lead-up to the public sale and the listing, we had a lot of community enquiries asking about a staking program. We listened and re-jigged our development plans to build out the staking module early. Champion effort from our dev team!

Here’s the skinny though… By staking your BUMP you gain a share of the current daily 5,000 BUMP reward pool. Stakers who lock up for longer get a larger share of the rewards. Want to understand more then check it out here.

We’ve had a few requests to provide an APY for staking. This is a classic question and totally understandable. Our fundamental belief is that the crypto space uses APY in the wrong way as far too many assumptions need to be made, which means they also need to be understood by the user and communicated clearly by the protocol. Most projects do a bad job of this. Having said that, we have decided to jump on the train, like it or not, and get an APY or APR or WTF (Wow That’s Fantastic) figure for users. We feel confident Bumper will be very competitive in the market and best thing is for users to have a consistent measure with which to compare. Just make sure you read clearly, understand the assumptions, and be Vasquez-style kick-ass… anytime, anywhere.

BUMP Farming Epochs

Back in October we launched the BUMP Farming epochs where you could deposit USDC and earn both BUMP tokens and USDC. With the launch of staking in December, we revised the farming program from epoch #05 onwards.

Going forward each epoch will reward depositors with USDC at a ‘better than Yearn’ rate. We’ve just updated the dApp with the latest epoch rewards but here is a snapshot of Epochs #05 & #06 for those who have mouse wrist strain and can’t be bothered to check it out:

Not bad for a stable coin, huh!?!

The other rules all stay the same, so enter the epoch before it starts and stay in for the full 2 weeks to get your rewards.

If you’ve not withdrawn your USDC then you’ll be accumulating your rewards which are all claimable in the dApp at any time. If you’re looking to get a good yield from your USDC holdings then deposit within the Bumper dApp and earn better than Yearn returns.

The First Agent Missions

In our last Sitrep we explained Agent-based Modelling. In this Sitrep we can tell you what the agents have shown us so far.

The key takeaways are…

1. We have a working simulation of Bumper… “Excelleeeennt!”

  • All coded up in Python and deployed to a beefy server to munch through lots of data.

2. It works, but we need to tune it… “No way!” “Yes way.”

  • When we turned it on, it spat out some great initial results.

3. What specifically is left to be done?… “Be excellent to each other.”

  • We ran some initial parameter tuning, but now we’re adding in refinements, more tests, and building a test harness to help us iterate through our tuning cycle quickly.

4. What results can we expect?… “Sixty-nine, dudes!”

  • Scenario analyses, with the costs of premiums for Takers and the expected yields for Makers.

Check out the full update and report here: https://medium.com/bumper-finance/bumper-protocol-modelling-update-88003a190f7b

Partnerships

As the saying goes, if you don’t have a good partner, you better have a good hand. We’re lucky to be making friends with exceptional protocols, partners, platforms and people. Late last year we announced partnerships and integrations with the following:

milestoneBased
Metis
InsurAce

We’re continuing to grow the Bumper eco-system so expect more in the coming weeks.

Roadmaps? Where we’re going, we need roadmaps.

The Bumper tech roadmap is now live on the site. This provides a snapshot of our current set of features, enhancements and integrations that are planned. Each item is categorised, numbered, named and scheduled according to its functionality and dependence on other items.

This should provide you with a firm sense of the scale and scope of what we have in store for Bumper. Comments or suggestions? As always, definitely let us know on our Discord or email support@bumper.fi.

Read our recent Roadmap post

Office Hours

Since our last Sitrep we’ve run two office hours. One impromptu, following the Uniswap listing, and the most recent which was back to our regular fortnightly calls. In our latest Office Hours we gave an update on the protocol and addressed:

  • Protocol Build
  • Liquidity Management
  • Events
  • Team Growth

Watch the latest Office Hours here:

https://youtu.be/Z7pfXU5WP4A

Press / News / Events

The next Bumper Office Hours Update will be live on Youtube at 10am UTC 27/01/22

[PRESS] Bumper Finance Announces Price Protection Against Market Volatility https://www.bloomberg.com/press-releases/2021-11-15/bumper-finance-announces-price-protection-against-market-volatility

[INTERVIEW] Kalkine Media interviews Jonathan DeCarteret — https://youtu.be/vJkG5dtZilY

[ARTICLE] Days of Bumper — Putting Options Out of the Race — https://medium.com/bumper-finance/days-of-bumper-putting-options-out-of-the-race-2e9f9e1aabfb

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

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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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Bumper

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Bumper protects the value of your crypto using a radically innovative DeFi protocol.

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