Ethereum

Bumper

United

Gnosis

London, United Kingdom, September 7th, 2023, Chainwire 
 
<a href="https://www.bumper.fi/?utm_medium=pr&amp;utm_source=chainwire&amp;utm_campaign=launch" rel="noopener noreferrer nofollow" target="_blank">Bumper</a>, a decentralised finance (DeFi) protocol, today launched its <a href="https://www.bumper.fi/lp/defend-your-crypto?utm_medium=pr&amp;utm_source=chainwire&amp;utm_campaign=launch" rel="noopener noreferrer nofollow" target="_blank">crypto options killer</a>. The equation that underpins the protocol, promises jaw-dropping improvements over traditional Black-Scholes option desks, undercutting the market leader Deribit, by an average of 30% and set to disrupt a $13 trillion market.&nbsp; 
<a href="https://www.bumper.fi/lp/defend-your-crypto?utm_medium=pr&amp;utm_source=chainwire&amp;utm_campaign=launch" rel="noopener noreferrer nofollow" target="_blank">Bumper</a>’s innovation is the culmination of a three-year research and development programme, backed by $20m in early funding, and collaboration with the <a href="https://cryptecon.org/home.html" rel="noopener noreferrer nofollow" target="_blank">Swiss Center for Cryptoeconomics</a>, known for work on Synthetix, and coded by renowned developers <a href="https://digitalmob.ro/" rel="noopener noreferrer nofollow" target="_blank">Digital Mob</a>, who previously worked on protocols such as Barnbridge, Gnosis and Filecoin. 
The result is a protocol that undercuts traditional options desks by <a href="https://www.bumper.fi/protect?utm_medium=pr&amp;utm_source=chainwire&amp;utm_campaign=launch" rel="noopener noreferrer nofollow" target="_blank">one-third</a>, while paying between <a href="https://www.bumper.fi/earn?utm_medium=pr&amp;utm_source=chainwire&amp;utm_campaign=launch" rel="noopener noreferrer nofollow" target="_blank">3-18% APR</a> to Liquidity Providers (LPs) that supply USDC to the protocol. Early adopters of the protocol will also share in <a href="https://www.bumper.fi/post/incentives-for-early-users-in-the-bumper-protocol?utm_medium=pr&amp;utm_source=chainwire&amp;utm_campaign=launch" rel="noopener noreferrer nofollow" target="_blank">$250,000 worth of incentives</a>, by either protecting their ETH or earning on their USDC. 
 
<blockquote>
 Bumper’s Co-founder and CEO, Jonathan DeCarteret, says “Bumper removes the downside volatility of a user’s crypto tokens, paving the way for them to take leveraged positions with zero-liquidation risk. That in itself is a major breakthrough, but when you consider it’s on average 30% cheaper than the market leader, the value proposition becomes crystal clear.” 
</blockquote> 
The protocol charges a premium which is calculated incrementally during the term, based on a combination of market conditions, protocol rebalancing and proximity to the user’s floor. This generates real yields for liquidity providers who realise returns ranging between 3-18% APR on average without the need to sell option contracts. 
Until now, the methodology for calculating the price for hedging risk relied on the fifty-year-old Black-Scholes model, which has fuelled the $13 trillion options market. 
<blockquote>
 “Fifty years is a long time in tech and although Bumper uses completely different inputs and a novel rebalancing mechanism, it is surprisingly correlated with Black-Scholes, but more efficient, even under the most volatile of market conditions.” said Mr DeCarteret. 
</blockquote> 
Bumper has been deployed to the Ethereum mainnet, and is currently accepting deposits in ETH and USDC, with additional ERC-20 tokens and multi-chain support slated to be added to the protocol in rapid succession. 
For more information on Bumper, including their early user rewards and incentives for rival DeFi options protocol users visit <a href="https://www.bumper.fi/lp/defend-your-crypto?utm_medium=pr&amp;utm_source=chainwire&amp;utm_campaign=launch" rel="noopener noreferrer nofollow" target="_blank">bumper.fi</a>. 
About Bumper 
Bumper is a DeFi risk market that provides protection from downside volatility of crypto assets. Users buying protection set a price at which they wish to protect&nbsp;their crypto should the price fall, but they don’t lose out if the market heads upwards. Conversely, other users earn a yield by providing stablecoin liquidity to the protocol. 
For more information, visit <a href="https://www.bumper.fi/?utm_medium=pr&amp;utm_source=chainwire&amp;utm_campaign=launch" rel="noopener noreferrer nofollow" target="_blank">Bumper's website</a>, follow <a href="https://twitter.com/BumperFinance" rel="noopener noreferrer nofollow" target="_blank">Bumper's Twitter</a>, and join the<a href="https://discord.com/invite/Bumper" rel="noopener noreferrer nofollow" target="_blank"> Bumper Discord</a>. 
 
<h5>Contact</h5>CMO Jason Suttie Bumper marketing@bumper.fi

Bumper’s $20m bid to undercut Deribit Crypto Options goes live on September 7, 2023 (7 Sep)

Chainwire

Other articles published on Sep 7, 2023

Crypto millionaires deaths: Investigating the series of murders

Avalanche Incorporates Arkefi Platform Backed by AllianceBlock

FBI: Lazarus Group hacked and stole $41m from crypto casino, Stake

Oasis Teams Up with Transak to Enhance Web3 Onboarding Experience

Bitcoin ETF Approval: The SEC's Regulatory Opportunity

Kraken Cryptocurrency Exchange Introduces PayPal Deposit Support

Join our free newsletter for daily crypto updates!