We’re excited to announce that Bumper will be migrating to Arbitrum!
In the 10 weeks since the launch of Bumper v1.0 on Ethereum Mainnet, we’ve been able to monitor the protocol telemetry and deliver confidence that the protocol provides exactly the performance expected, ie. Taker Premiums and Maker Yields correlate strongly with simulation.
This has proven as a good testing ground for the protocol, but to scale user adoption and make positions more financially viable Bumper needed to act fast and explore which L2 technology would be best suited. The objective of reducing gas fees and complementing existing DeFi & Derivative Ecosystems are the top priorities for the migration.
Alongside the Arbitrum deployment, we have listened to the market and taken steps to bring three very significant protocol improvements.
Rolling out Bumper to a wider set of assets was part of the vision, we’ve brought expansion forward to provide more trading opportunities for users. Currently the intention is to launch with four markets:
Since the Ethereum Shapella upgrade we’ve seen a proliferation of use cases for staked ETH assets in the LSDFi space from collateralized loans to trading yield. Launching a stETH market on Bumper brings a layer of price protection for LSDFi assets that hasn’t been possible until now.
Hello yield-bearing price-protected ETH!
To provide traders absolute flexibility to manage their position, Bumper has already added shorter terms and higher floor prices. The further this flexibility Bumper will add functionality for traders to cancel their position and retrieve their principle deposited asset (minus premia) at any time.
We love the 80s, but our retro interface wasn’t providing an experience that resonated with professional traders and DeFi users so, alongside the Arbitrum launch, Bumper will roll out a radical-but-familiar style of interface.
The inputs and outputs are the same, but wrapped in a sleek one-page trading experience. We can’t wait for you to see it!
What does this mean for Bumper’s existing deployment on Ethereum Mainnet?
The promise of 100x cheaper gas on Arbitrum and a wider set of markets that we’re able to support there mean that it makes sense to sunset the existing single ETH-USDC pool.
Bumper will pause the protocol on Friday 17th November and ensure over the coming days to return Taker, Maker and Bump Bond assets to users. Yields and premiums will be calculated based a snapshot on 17 Nov 2023 9AM UTC.
If you have an open position please contact our team in our discord community.
You can watch our Office Hours announcement here.
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We're thrilled to share a groundbreaking announcement with our dedicated Bumper community! The countdown has begun, and on Friday, December 15th, Bumper will make its highly anticipated debut on Arbitrum. This milestone is not just a step forward; it's a leap into a new era of decentralised trading.