Press Release: Bumper Closes $10m VC Fundraising, to Bring Price Protection to DeFi
Bumper, a DeFi protocol that protects the price of your crypto assets, quadrupled its $2.5m target in a heavily oversubscribed round and announces a $10m raise from leading VCs. Investment was received from Alphabit, Autonomy, Beachhead, and Chainlayer, amongst others, with a further $30m in interest declined until future rounds, giving Bumper a Fully Diluted Valuation of $120m.
Bumper promises to revolutionize the crypto market with its near-zero slippage engine that allows users to protect the price of their crypto asset for as little as 3% p.a. The $BUMP token price was correlated to the size of investment, with $500k tickets receiving the best price.
From June 8th, liquidity providers will be able to deposit USDC and earn a yield along with a daily distribution of $BUMP tokens. The full protocol will fully go live in August with a public token sale.
VCs are betting that Bumper will solve the Holy Grail issue of cryptocurrency volatility using their innovative DeFi protocol. The first release will allow retail and institutional investors to protect the price of ETH, expanding to wrapped BTC and larger ERC20 tokens later in the year. You can learn more here.
“Bumper is just another example of the crazy levels of innovation in DeFi right now. We are the first to crack this price-protection nut — something retail, institutions, DeFi, and the lending market desperately need. We think Bumper will be massive and the market seems to be with us”, Bumper Chief Exec Jonathan DeCarteret.
Bumper will soon publish an academic paper by two University Professors demonstrating the protocol’s efficiency, along with crypto-economic studies and token modeling reports.
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.
Check out the website: https://bumper.fi
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