Woah, chill dude
Bumper Crypto Price Protection isn't live yet.
Bumper Crypto Price Protection isn't live yet.
500 BUMP per day will be issued proportionally among stakers, according to how many BUMP are staked, and what type of stake is chosen.
The point of Bumper’s Staking module is to provide BUMP holders a means to support the protocol without participating as a Maker or a Taker in v1.0 and beyond. Stakers will earn a variable yield, paid in BUMP, by locking some of their BUMP into the module.
The staking functionality will be live via our dApp, or the Bumper smart contracts if you're that way inclined. When you choose to stake you'll have the option of Fixed Staking or Flexible Staking. These are explained below.
For now, the staking contract is configured to issue 500 BUMP per day in staking rewards. The important thing to note here is that it will be issued proportionally among the stakers, according to how many BUMP are staked, and what type of stake is chosen.
Staking under the Flexible option means you can jump ship whenever you feel like a dip in the ocean. However, it’s a long way down, and there’s a cooldown after you press the eject button.
1x reward multiplier
10-day cooldown period
BUMP Re-staked if not claimed within 2 days
A Fixed Term Stake of BUMP locks tokens into the protocol for a fixed time period. Fairly self-explanatory really. The interesting bit is that you get a bonus for choosing fixed, and the longer the term, the bigger the bonus.
Fixed term:
30 days = 1.5x reward multiplier
60 days = 2.75x reward multiplier
90 days = 6.0x reward multiplier
Claimable at the end of the term.
Say you had two people staking:
Person A: 20 BUMP, Flexible
Person B: 5 BUMP, Fixed 3 months
Person A has 4 times what Person B has in BUMP. But, Person B gets a 6x multiplier, so rewards are issued as if they had 6x their stake (i.e. 6x5 = 30)
Person A earns ( 20 / [20 + 6 x 5] ) x 500 = 200
and
Person B earns ( [ 6 x 5] / [20 + 6 x 5] ) x 500 = 300
Protect the price of your crypto assets with Bumper