Place/Date: - December 6th, 2021 at 3:14 pm UTC · 3 min read
Contact: Bumper Finance, Source: Bumper Finance
The DeFi protocol opens its doors to the public on December 9th following highly anticipated private sales totalling $17.5 million.
Even with the entry of giants such as Tesla and Square into cryptocurrency, the industry remains a volatile place for traders and investors. With over $100 billion currently locked in DeFi protocols, black swan events and flash crashes, such as the one seen in May 2021, continue to present a risk to anyone with money in the rapidly growing market.
Bumper Finance introduces an innovative protocol enabling users to battle the roller coaster rides of volatility that exist in the markets; the protocol’s native BUMP token plays a central role in price protection and a public sale of the token is set to go live on December 9th, with registration for the sale having opened on December 2nd.
With innovation growing in all directions, there still exists a distinct lack of comprehensive solutions for those looking to hedge their assets against the aforementioned risks. Whilst crypto options are becoming more user friendly, they are still arguably too complex and costly for the average user; generic stop-loss features offer users an opportunity to tap out should prices drop, but leave them sitting outside in the rain should an asset recover.
Bumper Finance offers users what can only be described as cheat codes for the crypto and DeFi markets, with features such as Crypto Invulnerability that, unlike a stop-loss, protects users from market crashes but also offers the added benefits of price appreciation should the asset’s price recover afterward. A second feature, named the Crypto Power-Up, gives users indirect exposure to Liquidity Provider (LP) earnings that are collected from those purchasing price protection within the protocol.
With $3.75m raised during the highly successful BUMP presale in October 2021, investment totalling $17.5 million has been made in Bumper Finance so far; the public will now be able to purchase BUMP tokens at a price of $1.50, with the reduced price of $1.25 applied if buyers stake their tokens for 3 months. There will also be staking rewards offered to buyers.
Purchasing BUMP tokens gives buyers access to price protection through the protocol, with tokens acting as an access pass that is required to be “bonded” (locked) with the protocol to take out a position. Token holders can also stake tokens in the protocol, as well as receive Maker (LP) rewards. Future plans for the Bumper Finance protocol include adopting a DAO framework which will also give token holders voting rights and governance.
With a loyalty program planned for the near future, Bumper’s registration for the public token sale opened on December 2nd. The quickly growing exclusive Bumper Telegram community, the Sky Lounge, requires participants to hold a specific amount of BUMP to join, and those looking to become a part of the Bumper ecosystem are encouraged to visit the Bumper website for more information.