Bumper’s $20M Bid to Undercut Deribit Crypto Options Goes Live on September 7, 2023

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Chainwire announced on September 7, 2023 @ 22:06 the launch of its cutting-edge DeFi protocol Bumper, designed to revolutionalize and disrupt the $13 trillion dollar options market. An outcome of a 3 year research and development process, backed by over $20 million of early investor financing, and programmed by Digital Mob, the protocol promises to undercut current market leader Deribit on pricing by an average of 30%.

Bumper plans to offer users not only the security of reduced costs but unparalleled rewards ranging 3-18% APR to those who provide liquidity in USD Coin (USDC). Additionally, early users of the platform have been granted free entry incentives valued up to $250k in either protection for ETH or yield interests of USDC. The pricing for protection is based on how close the user is the specified floor in terms of market conditions, protocol rebalancing, and other quantitative control methods.

The platform is deployed on the Ethereum mainnet and currently accepts deposits in ETH and USDC, with other ERC-20 tokens and multi-chain support to be added soon. To learn more about the protocol and incentivized yields visit bumper.fi, follow them on Twitter, or join the Bumper Discord.

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Robert Wilson author
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