Here are the latest tech updates covering some of the work our engineering teams have been working on recently:
- Our protect and earn deposit flows have been updated in integrate Uniswap widget, which will allow users to purchase the BUMP token whilst staying in the dApp and creating a seamless experience for our Takers and Makers.
- We have also been working on updating our renew flow for our Takers and Makers. The Bumper protocol will allow a Taker to modify their terms and floor, and will allow makers to update their deposit period and risk tier. Therefore our design team had to head back to the drawing board and make adjustments to the renew flow where we have now integrated a form similar to one a user sees when creating a policy or creating a deposit position.
- Currently the focus of the web2 team is to create the 'chassis for the Lambo' making sure it allows users to leverage the power of Bumper Protocol ( Turbo charged V8 Engine ) that our Partners DMOB are currently working on!
- We will be revamping the deposit experience for the Makers. We are refactoring the flow and the code to enable our Makers to deposit their USDC to support asset markets ( ETH, WBTC ).
- We have been through a UI design review process and we have some outcomes that have to be fixed. Therefore, our next target it to integrate those UI changes in our test dApp.
- We have been testing the simulation for different deposited amounts, to test the consistency of both yields and premia. Going from $5,000 up to $100,000. While premia worked as expected, we found what we thought was an inconsistency in yield behavior. We finally found that the issue was related to how the “steady state” (or simulation “warm up”) was being configured.
- We are testing alternative formulations for the cumulative premia index. Currently, we compute a USD index and an ETH index, to differentiate premia of claimed and closed positions. However, a single index may be used in the upcoming version.
- An update on the PRF parameters was done, which improved all premia results. We were saturating the PRF too fast, so its contribution to the premia computation was minimal. Now it's showing the expected contribution (around 25% with respect to the LRF).
- A lot of work has been done to support the Web 3 team, in giving accurate parameters from our last experiments. Because of some fundamental differences between the languages used by each time, an effort was made to reconcile equivalent formulations (for example with the Maker and Taker Risk Matrices, that needed to be converted into functions).
- Our main task is the Simulation Report, where huge effort is being put into getting the most accurate results with realistic scenarios.
- A lot of debugging has been going on. With a simulation as complex as this one, we must pay close attention to any possible bug, no matter how small it may seem.
- An ongoing study on premium value under different price scenarios is being performed. We found some time ago that the premium is going up when we run scenarios where the ETH price goes down. This is inconsistent and we need to fix the issue and fully understand its origin.
- Discuss with Web3 which implementation the premia loop (update at every protocol step) would be more efficient in Solidity, and adapt it to our current simulation, to have more realistic results
- Finishing the Sim report. Which includes tuning the most relevant parameters, and running the simulation in a variety of price scenarios.
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