To continue to reward our protocol participants and supporters we recently cranked our yield farming program up a notch. Participants now have the opportunity to earn both USDC and BUMP token rewards for staking USDC.
This upgraded Bumper yield farming program kicked into gear when the Pre-Sale ended and will run in 2-week periods, called ‘epochs’.
All the farming rewards are based on the amount of USDC you stake, relative to the total eligible amount staked in the pool. But there’s a catch. You’ve got to stay in for the full epoch to get any returns. That means getting your deposit in before the start of an epoch and not withdrawing it before the end. But with the opportunity to earn yourself some BUMP, why would you want to?
USDC and BUMP Rewards
The rewards we’re sharing out are made up of two components — USDC and BUMP. Currently stable coin deposited into the protocol is sent off to a Yearn vault and put to work. Each eligible participant earns a cut of that yield. So, if the average Yearn yield over that period is 8%, you earn 8% on your deposit. Simple.
The second component is those sweet BUMP tokens. Each epoch there is a pool of 137,000 tokens being divvied out to our farmers. Just like with the USDC these will be shared out based on the proportion of the total eligible deposits.
Now, we’ve used that word ‘eligible’ a couple of times and there are some rules. If you choose to withdraw early, and you’re free to withdraw whenever you like, the remaining participants get to share your slice of the reward pie. If you leave nothing in, you earn nothing for that epoch. If you leave a little in, you still earn rewards but only on that lower amount. If you deposit more, that will only be factored into the next epoch for rewards.
So if you want to whip some USDC out to take a punt on some SHIB that’s fine, and as long as you’ve left some coins in you’ll still earn some rewards, albeit fewer. You better hope that SHIB pumps to make up for the yield you’ll be missing out on.
At the end of each epoch, we’ll take a snapshot and then airdrop your rewards within the week following the end of the current epoch.
Reward Summary
Here’s a breakdown of the rewards:
- Earn a USDC yield at the prevailing APY directly from the Yearn vault.
- Get a slice of the 137,000 $BUMP tokens distributed at the end of every epoch. If your eligible deposits are 0.05% of the total deposits, you will earn 0.05% of the token distributed at the end of the epoch.
- Rewards are proportional to your minimum holding during the epoch.
To participate, check out the link: https://www.bumper.fi/earn
If you’ve already been in for an epoch, there’s nothing you need to do to be in the next. Your deposit automatically rolls over.
Looking Forward
As a special incentive only existing LPs were able to earn from epoch #01, but as this comes to an end on Thursday 28th at 12pm UTC new depositors will be able to earn from epoch #02 You can track when the next epoch starts on our website
Epoch Schedule
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
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Visit our Website — https://bumper.fi
