Bumper: Sitrep #009
If you were with us for last week’s Office Hours you’ll have seen us ‘poppin’ the hood’ to show you a glimpse of where we’re at with the front-end development. We ran through the new UX flows we’re working through and some considerations when designing a user experience. It’s not long now until Bumper will be out on the forecourt so you can give the tyres a good kick and take it for a spin. We’re excited!
We also scooted over to the new #after-hours channel in Discord for a post Office Hours chat with the community. We encourage everyone to join us there next time and use that window to drill down on anything we just discussed in Office Hours.
Bumper Growth Focus
From a macro crypto perspective, the huge volatility persists despite the increasing market cap overall. We’re now talking trillions of dollars of institutional money flowing in which has done little to dampen the inherent price volatility within the space, but what it has done is drive huge capital influxes into the crypto derivatives market. This is precisely where Bumper provides an attractive alternative and we hope to see increased interest.
Currently, Bumper continues to sit on its own in terms of how we’re tackling protection from volatility. We’re seeing increasing indirect competitors come into the space and deploy solutions that are fundamentally based on the same old traditional options desks and perpetual options… Snoozeville! So, we’re still confident that our approach will really shake things up.
Besides what we’re seeing externally, Bumper is in full flow with the development of the protocol. Maintaining the current pace of development brings with it many challenges, from staffing to getting the attention of best-in-class service providers, including smart contract auditors. Man, those dudes are in-demand! All of these aspects require regular attention to ensure we’re keeping on track with protocol release.
$> compile bumper_protocol.eth
loading . . . > 50%
Technical development of the current release of the protocol has passed the halfway point. Phew! *frenetic sweaty brow wiping* It’s a good feeling to be in that state of consistent development. We’re full steam ahead flushing out all the little details along the way.
We’ve also re-organised the Dev team into several core work streams in order to ensure everyone is focused on quality: Design, Web2, Web3, and Simulation.
The protocol codebase went through a full sweep last week after our overall architecture was finalised to bring everything into a consistent state and guide the remainder of development to a point where we’ll be working primarily on optimisation, testing, and documentation.
You can read more in our latest tech update here
Following on from the simulation results of last year, we’ve been working on refactoring the simulation codebase to bring it from a Proof-of-Concept stage to production-ready. While the first model proved this thing works with some approximations, the task ahead of us now is to optimise the dozens of parameters to ensure the protocol is balanced for both sides of the protection market.
The simulation code is going through a full refactor where we’re making it even more modular. This makes it easier to work with and we can more rapidly iterate through parameter tests as well as test future protocol enhancements.
If we can run simulations with a set of test parameters and get results back quicker we can roll into the next set of tests quicker. It’s all about speed…
As we move closer to release we’re looking to publish a more granular roadmap so you can follow along with all the development.
In the meantime, check out what’s lined up on our website.
Results and rewards for epoch #07 were delivered last week. This epoch delivered an APR of 8.87%. Clearly, the recent dismal markets impacted on stablecoin earning power but we’re still providing a better than Yearn return. Say that 10 times fast! Now, message us in Discord if you actually just did that in your head, even though you tried hard not to.
If you want to earn some yield on your USDC you’ve got until 12pm UTC February 10 to get in for the next epoch. With Bumper’s Epoch program, you ‘Earn better than Yearn’.
Great User Experiences
As mentioned earlier the last Office Hours was a bit of a show-and-tell as we worked through the visual designs and protection flow.
The best thing to do is pop over to Youtube and check it out.
We’ll be running some user testing for this shortly and are keen to get our community involved in this. We’ll do a shoutout with what we’re looking for soon.
Giving you the Best Support
We came up against some challenges with the software we were previously using for support and we’ve now ditched this for one that’s more fit-for-purpose. This should allow us to manage support queries more efficiently.
Setup and migration from the old system are happening at the moment. Hopefully, the only difference you’ll notice is more efficient support.
In the Office Hours, we also talked about introducing more opportunities for our community to feed into the ever-growing feature list, and we’re currently looking at several ways to engage the community for structured feedback. It’s worked well in the past where we took on the vibe for Staking and we brought this forward in the roadmap and released it early based on Bumper Community input. We need this to continue so that the community’s voice helps guide what features come next.
A brief update on Sky Lounge. We are yet to firm up a robust solution that will allow those who have staked some, or all, of their BUMP to regain access. Collab.land won’t currently allow us to find the sum of two different token amounts. Yeah, we agree… bogus.. We’re testing out some Discord plugins and are keen to find one or two that fit the bill. Shout out if you’re familiar with a good one!
Watch the full video of our ‘Under the Hood’ Office Hours session on Youtube. We also spoke about sector growth, team and recruitment progress and addressed community questions such as:
- Release Schedule
- Multi-chain release
- Bug Bounty
- Staking APRs
Press / News / Events
The next Bumper Office Hours Update will be live on Youtube at 10am UTC 17/02/22 — make sure you subscribe to get an alert when we go live.
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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