Key Takeaways
What happened to Feb?! Seems we had our heads down and missed a Sitrep so this one is literally a Bumper edition.
Over the past month the protocol has hit $1.5m in trading volume which is something to celebrate. Particularly when we hit $1m only a few weeks before, we celebrated with an airdrop of BUMP tokens to early adopters just to say thanks. Thanks to users protecting their assets and also earning a yield we’ve been able to further optimise the protocol and improve outcomes.
Lead Metrics
Protocol Trading Volume: $1,614,728
Premium avg per day (wstETH / WBTC): 0.56% / 0.48%
Avg Realised Yield (wstETH / WBTC): 208.64% APY / 19.18% APY
Token Price: $0.051
Token Trading volume (24hr): $94,479
During the last month we’ve seen BTC down 18% and ETH down 26% from previous highs, we observed various hedged positions receive payouts at their protected floor prices. This provided traders with the opportunity to beat the market and accumulate crypto at lower prices.
Our intern, Brian, shared his wstETH position resulting in accumulating 13.3% more wstETH after his USDT claim at a 99% floor. A community member in Discord shared an even better 14.6% accumulation also on wstETH this week.
Watch our recent trading chat to see the numbers on screen.
We’ve seen the BUMP token trading volume increase consistently over the past month. This increase has also been reflected in an increase in buy pressure, helping drive a +30% change in token price over the past 30 days. Aside from the recent market downturn, the token has looked robust. Peak price was around 6.9c, up from 4c and is currently recovering from 5.2c so good solid growth lately.
Currently the total 24h volume across all markets is just shy of $100k but has reached to over double that fairly consistently in recent weeks.
Circulating Supply Methodology update
To keep in-line with industry practice, we are adjusting the calculations for circulating supply. To be clear, there are no more tokens in supply but this has come out of our work with Dune Analytics in formalising the token metrics that users require.
Except for the contract that contains tokens for protocol usage, and any tokens still vesting, all other tokens are considered in circulation. This will mean there will be a significantly closer relationship between total supply and the circulating supply. This is good news. We’ll announce official numbers in an article once we’ve made the change which should happen within a week.
Something we touched on in the latest Office Hours was our ongoing discussions with centralised and decentralised exchanges. We’ve had some brilliant input from community on this, both publicly and in DMs. This has helped shape our thoughts on exchanged
We’re still on track to announce our plans and timings before the next Sitrep.
The development team continues to optimise the protocol and make improvements. One area they’ve been working on lately is the rebalancing mechanism.
The latest code update to rebalancing went live last Thursday. This has introduced greater stabilisation and more efficient rebalancing when positions enter and exit.
Protocol optimisation will be ongoing as we monitor the market and usage.
The team are currently working on the re-parameterisation of markets to help drive more efficient premiums and even better yields.
User Interface Updates
Last week we rolled out a host of interface updates which aim to present better data on markets and positions. The most obvious change is the addition of a Markets Overview at the top of the main dashboard.
Part of the driver for this was to show the premiums that have been paid on Bumper positions. At this stage this is the best indicator of estimated premiums.
For a full breakdown on what everything means check out Gitbook:
Mobile Experience
We’ve also hugely improved mobile adaptiveness so mobile users get a better experience.
Position History
We heard from users that some actions weren’t showing up in the dApp History. This has now been resolved.
Please continue to let us know via the Feedback tab in the dApp what’s missing, what doesn’t work and any other feedback.
We’ve not spoken in much detail about how Artificial Intelligence in its various guises has been used throughout the development of Bumper. But it’s a question we get a bit. With AI being a leading narrative in the crypto space this is something we’ll be talking about more.
As you may already know, throughout the development of Bumper we’ve engaged various types of artificial intelligence (agent-based modelling, LLMs, ML etc.) to model and simulate behaviours and calculate the initial protocol parameters. We continue to use AI within the simulation and through the protocol development.
But, we can definitely push this further and we’ve dedicated time and resources to double down on AI to allow crypto traders to maximise revenue even further.
Insights into how the token and protocol are performing are important not only for the team, but also Bumper users and token speculators. So we’ve released Phase 1 of the Dune Dashboard.
This helps give better visibility of traded volume, pool balances and token metrics.
Check it out - https://dune.com/bumper/bumper
What else do you want to see in the dashboard? Tell us in Discord.
Getting Bumper positions integrated into other platforms all help with adoption. Recently we’ve got open positions recognised on DeBank and also Rabby. We’re continuing to look for opportunities like these that get Bumper more visibility.
We also spent a couple of days at the Blockworks Digital Asset Summit in London. This has pushed forward conversations about integrations and partnerships. It was also incredibly useful to understand how we can work towards institutional adoption.
If you use DeBank make sure you're following Bumper.
Our latest Office Hours covered some of the above and also answered some further community questions. If you’ve missed any recent Office Hours updates you can see them all on Youtube.
If you have any questions for the next Office Hours drop them here: https://www.bumper.fi/community-questions
With a more optimised protocol and a choppier market we’re seeing opportunities for users to outperform the market and gain that much needed protection.
To support this we’ll be focussing on a lot more marketing, communications and business development in the coming weeks. We’ve got a broad spread of KOLs we’re starting to work with along with some research coming out.
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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.
Stay Connected to Bumper:
Join our Discord — https://discord.gg/YyzRws4Ujd
Follow us on Twitter — https://www.twitter.com/bumperfinance
Visit our Website — https://bumper.fi
Disclaimer:
Any information provided on this website/publication is for general information purposes only, and does not constitute investment advice, financial advice, trading advice, recommendations, or any form of solicitation. No reliance can be placed on any information, content, or material stated on this website/publication. Accordingly, you must verify all information independently before utilising the Bumper protocol, and all decisions based on any information are your sole responsibility, and we shall have no liability for such decisions. Conduct your own due diligence and consult your financial advisor before making any investment decisions. Visit our website for full terms and conditions.
