Bumper Raises $3.75million in Week-Long Token Presale; God-Mode Price Protection Is on Its Way!
LONDON, UK / ACCESSWIRE / October 31, 2021 / Bumper, the radically innovative DeFi protocol that protects the price of crypto assets, recently announced the closure of a highly successful BUMP token presale that saw them raise over $ 3.75 million during a a highly anticipated week, with the first day alone seeing over 5,500 visitors to the presale site.
Commenting on the presale, Bumper CEO Jonathan De Carteret said, “The success we’ve seen throughout the presale process reflects the incredibly high demand we’ve seen for BUMP at every stage of our fundraising; the DeFi space calls for a solution. to the perennial problem of volatility, and with Bumper they don’t have to look any further. We look forward to building on the phenomenal momentum that has been established so far and taking BUMP to the next level! “
The presale marked the last opportunity for investors to purchase the BUMP token at a discounted price for the IDO and the public sale which will take place later this year. Members of the crypto community who do not yet own BUMP will now need to participate in the IDO in order to receive the rock-solid price protection that the token facilitates.
The Bumper Protocol definitely solves the long-standing problem of crypto volatility by protecting assets against market downturns while ensuring users have full upside exposure. It allows investors to set a “floor” price: a protected level at which they can exchange their assets for a stablecoin if they wish to buy them back. The important point to note here is that the protocol does not close the investor’s position, which means the user is still exposed to the upside.
To subscribe to protection when the Bumper protocol goes live, users will need to hold BUMP tokens. The token is built into every facet of the platform and is the first point of entry into the Bumper ecosystem – because the two price protection “takers” who want it to participate by protecting their assets from price shocks, they will have to deposit BUMP tokens for the duration of their protection position.
Once users have protected their crypto, these Bumpered Assets can then be used in other protocols within the DeFi ecosystem, such as Collateralized Debt Positions (CDP); a user could, for example, put Bumpered Eth in a MakerDAO pool in order to receive DAI stablecoin, and could do so safely knowing that they are protected against black swan events that could trigger a liquidation of their assets.
In addition, to gain liquidity from the protocol, the “makers” will also have to hold BUMP; when the protocol goes live, they will be required to deposit BUMP tokens while contributing stablecoin to the liquidity pool. The utility of the BUMP token also comes in the form of governance rights which are conferred on holders, and which allow them to play a role in the future of Bumper as it evolves into a decentralized autonomous organization (DAO).
Further in Bumper’s roadmap, the project has plans
Commenting on the usefulness of the BUMP token, Bumper COO Gareth Ward said, “BUMP is the fuel behind the Bumper Protocol fire; We have integrated the utility token into the very heart of the Bumper ecosystem, so that we can drive more value for token holders as the project grows. We have always viewed the community as the driving factor. most decisive in the success of the project, so we fundamentally believe in offering significant rewards and incentives to every member of the Bumper community and BUMP token holder. With them by our side, we have no doubt that Bumper and BUMP will continue to achieve great things! “
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About the bumper
Bumper protects the value of your crypto using a radically innovative DeFi protocol. Set the price you want to protect and if the market collapses, your asset will never fall below that price. Importantly, if the market goes up, so does your asset.
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THE SOURCE: Exceptional funding
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