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Consensus 2022: The view from Bumper

Bumper at Consensus 2022

Consensus 2022 has been and gone, once again demonstrating why this expo is one of the biggest events in the crypto calendar, as around 15,000 flocked to Austin, Texas for the premium get-together of crypto buffs, DeFi degens and NFT bro’s.

The big question of course is ‘was Bumper at Consensus?’ You bet we were!

Despite the show happening on exactly the same weekend the crypto markets tanked, the show still retained its carnival atmosphere — and there was a sense this wasn’t a time for doom and gloom, but rather an opportunity for great projects to regroup, build hard, and come up with the next generation of decentralised protocols to challenge the legacy financial system.

The sudden capitulation of Crypto in general certainly meant it was easy to draw comparison with previous shows.

At last year’s (2021) event, Bitcoin was at the time retracing from forming a new all time high, and within a couple of months, it had powered up again and formed another top, and with DeFi protocols in full swing. It very much seemed like good times were rolling, and crypto was gaining momentum amongst institutional investors.

But probably the most notable comparison was with the 2018 Consensus, which happened right after the implosion of the ICO model, and with Bitcoin having retraced 60% from the former almost $20,000 top it had formed at the end of the previous year. But that year saw only around 4000 attendees. Consensus 2022’s headcount according to the organisers topped 16,000 crypto enthusiasts.

Many of the Degens, particularly those who had previously enjoyed incredible yields through various DeFi protocols, were noticeably more muted about some of the recent events in the crypto space. The implosion of the Terra/Luna ecosystem, (and the recent emergence of liquidity issues with DeFi lending protocol Celsius), the mood had somewhat shifted this year as conversation danced around the great crypto elephant in the room.

That said, it’s not all doom and gloom. This past year has seen a wider participation in areas such as NFT’s and DeFi among millennials and Gen X’ers, as well as much more institutional interest in the digital assets space.

Back just a few years ago, the only question which institutions were asking was “do we invest in Bitcoin”, but now the conversation is very much changing to one of necessity rather than desirability.

“Across all of the legacy financial institutions, this [crypto] is a top priority topic” Christine Moy of Alpha Global Management said during one of the many panels which took place at Consensus 2022.

Mark Yusko, the founder and CIO of Morgan Creek Capital Management perhaps captured the prevailing sentiment amongst many fund managers: “Winter is the best time for venture investing” he said in a discussion with Michael Casey, the chief content officer for event organisers Coindesk.

And Winter, it appears, has abruptly arrived. Like it or not, this market may well be in for a mini-ice age, but whilst some in the crypto community are reeling from recent bear-attacks, with sentiment still hovering somewhere between extreme fear and total, hair-on-fire panic, the message now is very much the same as the message from Consensus 2018, which was aptly communicated by Christine Moy:

“For all the people who are in it for the mission and not just for the money, take care of yourself, take care of your teams, [be] fiscally responsible… survive what could be an extended crypto winter and… come out the other end… being the core parts of the infrastructure and business ecosystem that we see on the other side, however long that may be”

Bumper Stand & Crypto Defender!

Of course, we at Bumper were there, and, as one of the official sponsors of the event, we had a great stand manned by our CEO Jonathan “DeFi” DeCarteret and aided by Office Manager Lara “Phoenix” Linz, and our very own Ferris Bueller.

Why Ferris? Well, because the theme of our stand was ‘Take the day off’. If you still don’t get the reference, well we strongly recommend you watch the classic 80’s film… and then go and use Bumper to take the day off from worrying about your crypto portfolio!

We were joined at the show by the lucky winner of our Consensus 2022 ticket giveaway, a man who goes by the Twitter handle ‘CryptoOwl’, who came and saw us at stand 604 and told us how delighted he was that thanks to Bumper he was able to attend. We’re glad you liked it, Mr Owl.

We also showcased the Bumper dApp for the very first time. Unfortunately, we couldn’t reveal the actual fully working protocol, as the Bumper codebase is still being audited (it’s massive, and it takes time), so we decided to turn it into our own Crypto Defender game.

Crypto Defender uses real price feed variances to simulate the action of the market across super-speeded up time. Consensus 2022 attendees were given the chance to ‘protect their crypto’ by trying out the game, with seriously bodacious prizes for reaching the top of the Hall of Fame leaderboard.

Even if you weren’t able to make it to Austin, TX, you can still try out Crypto Defender for yourself, and until June 22nd, have the opportunity to win a share of the $2000 prize pool. Whether you are crowned the greatest Galaxy Ranger in the universe or not, you could be in with a chance of winning $50 in USDC tokens just for sharing on social media. Most excellent!

Try out Crypto Defender here.

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