LONDON, UK / ACCESSWIRE / July 22, 2021 / Bumper Finance, the radically innovative decentralised finance (DeFi) protocol which protects the price of crypto assets against volatility, last week launched their liquidity provision program, which saw $9.8m deposited in the first 48 hours of going live, making it the tenth largest DeFi derivatives protocol by TVL.
Commenting on the launch, Bumper Finance CEO Jonathan DeCarteret stated: ‘We’re incredibly excited to have now launched our LP staking program. Earlier this year when we were fundraising, we declined over $32mil in institutional investment, so that we could open up this private sale round of funding to our community. The launch of this LP program marks the start of that, and represents our commitment to rewarding and incentivising our community of supporters and early adopters’.
Early depositors of USDC into Bumper Finance’s liquidity pool will benefit from yields on stablecoin of over 300%, and will be eligible to swap up to 20% of their deposits for BUMP tokens at the private sale price of $0.60+. Depositors who choose not to buy into the private sale round will receive a yield of 100%+ APR on their USDC.
Funds deposited into the Bumper Finance liquidity pool will be locked until October 14th, which constitutes the private sale round. A token pre-sale will commence on October 7th allowing anyone to use 100% of their USDC deposit to buy tokens at $1.80+, if there are remaining tokens. Bumper Finance is offering their community over $22mil worth of BUMP tokens, which have been made available to be farmed and bought.
Bumper Finance’s CMO Jason Suttie commented on this, stating: ‘Bumper offers bullet-proof protection on the value of crypto against volatility. The higher the TVL in our stablecoin liquidity pool, the more effectively and efficiently it works. Because of this, and in recognition of the tremendous support and backing which our early community members have shown us, we’re providing very generous incentives to stake into our pool and partake in our LP program. This is just one way we believe we can show our appreciation to our community, and we’re planning further initiatives and incentives which we’ll be revealing further down the line.’
Bumper Finance is the first product on the market to offer efficient, flexible, cost effective, easy-to-use, and guaranteed protection against volatility. Policy-holders set a price floor, for which they’re charged a nominal fee of around 3% per annum, and the protocol’s groundbreaking near-zero slippage engine ensures they’re able to redeem their asset for stablecoin if the price falls below the floor they set.
The fees are dynamic, increasing as the price nears the floor and decreasing to negligible levels as it moves away from it. Users are able to easily switch in and out of protection whenever they want, after a brief initial lock up period, and there are no expiries or stop losses, meaning protection can last for any length of time users want, and if the market turns they’ll be able to capture the upside exposure.
Bumper Finance’s liquidity provision program will run until October 14th, and will be followed soon afterwards by a public sale which will take place via a launchpad. In November Bumper plans to list its BUMP tokens on decentralised exchanges (DEXs) including Uniswap, and are currently assessing their options for listing on centralised exchanges.
To find out more about Bumper Finance’s LP Program, and to deposit into their liquidity pool, visit https://bumper.fi/lpp
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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.
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SOURCE: Bumper Finance
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