Bumper’s $20M Attempt to Outdo Deribit Crypto Options Launches on September 7, 2023
Bumper, a decentralized finance (DeFi) protocol, has officially launched its revolutionary crypto options platform. This groundbreaking protocol is set to disrupt the $13 trillion options market, offering significant improvements over traditional Black-Scholes option desks and undercutting market leader Deribit by an average of 30%.
The development of Bumper’s innovative protocol has been a result of three years of intensive research and development, with $20 million in early funding and collaboration with the highly respected Swiss Center for Cryptoeconomics. The protocol was coded by the renowned developers at Digital Mob, who have previously worked on major protocols such as Barnbridge, Gnosis, and Filecoin.
What sets Bumper apart is its ability to undercut traditional options desks by one-third, while also offering attractive annual percentage rates (APRs) of 3-18% to Liquidity Providers (LPs) who supply USDC to the protocol. Early adopters of the protocol will also have the opportunity to benefit from $250,000 worth of incentives, either by protecting their ETH or earning on their USDC.
The protocol charges a premium that is calculated incrementally throughout the term, taking into account market conditions, protocol rebalancing, and the user’s floor. This approach generates real yields for liquidity providers, allowing them to earn returns ranging between 3-18% APR on average, without the need to sell options contracts.
Until now, the options market has relied on the fifty-year-old Black-Scholes model to calculate the price for hedging risk. Bumper’s introduction to the Ethereum mainnet marks a significant shift in this methodology, offering a more efficient and cost-effective solution.
Bumper is currently accepting deposits in ETH and USDC on the Ethereum mainnet, with plans to add additional ERC-20 tokens and multi-chain support in the near future.
For more information on Bumper, including details on their early user rewards and incentives for users of rival DeFi options protocols, please visit their website at bumper.fi.
About Bumper:
Bumper is a DeFi risk market that provides protection from the downside volatility of crypto assets. Users can purchase protection at a desired price to safeguard their crypto in the event of a market downturn, while still benefiting if the market moves upward. Additionally, users can earn a yield by providing stablecoin liquidity to the protocol.
For more information, please visit Bumper’s website, follow them on Twitter, or join their Discord community.
Contact:
Jason Suttie
CMO, Bumper
[email protected]
Disclaimer: This is a press release. Coinfomania does not endorse and is not responsible for any content, accuracy, quality, advertising, products, or other materials mentioned in this article. Readers are advised to conduct their own research before making any decisions regarding the company mentioned.
