2. Epoch closure
3. DevCon 2022, Columbia
4. Protocol tidbits
Standby for Sitrep #026
Circulating Supply: 35,979,948.2924 (14.39%)
BUMP price: $0.03060941
Price Changes: 24h: -1.2% 7d: -7.5% 14d: -0.3% 30d: -17.3%
Fully Diluted Market Cap: $7,652,352
Circulating Market Cap: $1,100,171
As at November 3, 2022
As discussed on our most recent Office Hours, our intention had always been to move pretty quickly from Alpha to Beta phases.
However, Alpha raised a number of issues which have taken longer than we anticipated to deal with.
There’s also been some delays with both Simulation and Web3 engineering, mainly as we’ve found it pretty challenging to onboard suitably talented developers with experience in this niche field.
The safety of users funds is our primary concern, and we’ve made a number of significant upgrades to our Sim to counter the sheer amount of computational power required to run effective modelling, but also to take into account new features which we expect to roll out into mainnet launch.
We have set about sourcing specialist engineers who can assist with designing and refactoring certain areas of the Sim. This in itself is a huge task, and has caused a knock on effect in our roadmap.
As a result, it’s become clear that we’re unlikely to hit our planned December rollout for main-net.
At this point we don’t have a clear date for when Beta or mainnet launches will be, however we’ll continue to release updates on our progress as we work through ticking off key development milestones.
For the last year or so, Bumper’s Epoch program has allowed early supporters to generate yield through our pooled farming programme.
As part of our progression towards launch, there is a need to restructure Bumper’s smart contracts to shift focus from LP staking via a third party yield farm, and more towards readying the protocol for liquidity provision on the Maker side.
As a result we will shortly be closing down our existing Liquidity Provider programme and advise users who have staked USDC to withdraw their funds as we wind this process down.
Note, this does not affect those users who are currently staking BUMP tokens via the Bumper dApp.
This is a long-planned step, preparing the ground for mainnet launch, allowing stablecoin holders to earn a yield by participating directly in the protocol.
October was DevCon month, and thousands of software engineers made their way to Bogota, Columbia for the first time since the Covid restrictions put the world into limbo.
Bumper was there, represented by COO Gareth Ward and CTO Sam Brooks. Much of the talk related to the post-merge future, as well as lots of interesting talk relating to MEV, Layer 2s and Roll-up technology.
Check out their video review of Devcon 2022 here.
We’re currently investigating the impact of introducing a mixed settlement model, in which users are able to exit the protocol with a combination of both stablecoins and protected assets, and the likely benefits in terms of liquidity on both sides of the risk market.
This includes looking at modelling the results in multiple different economic scenarios, and whether it is best to make this configurable during the time a position is open.
Bumper’s engineering teams continue to be busy in their basements, making steady progress across all workflows. The main headlines are:
You can view our latest development update in full here.
Our next Office Hours live stream will be taking place on Thursday, 24 November 2022 at 10am UTC: Make sure you’re subscribed to our channel to get an alert when we go live.
Watch the full live stream of our previous Office Hours session on Youtube.
Check out some of the highlights:
If you haven’t already, do check out some of our latest content here. There’s some really mind-blowing stuff here, and if you’re keen to learn more about how Bumper works, then it’s highly recommended:
Bumper are hiring!
If you would like to join a tight team with vision and a singular focus on releasing one of the most groundbreaking DeFi protocols, check out the full list of current vacancies on our careers page.
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
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Visit our Website — https://bumper.fi
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