Thanks for talking to us. Let’s start by talking about what Bumper is and what you do.
Bumper protects the value of your crypto using an 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.
What’s the story behind Bumper? What made you set it up?
I was running a crypto yield farming fund in late 2019 and started to witness the developments in DeFi, which at that stage was worth $30m. I was interested if DeFi, which is a natively high frequency and low latency ecosystem and capable of solving problems that have never resolved. Volatility is the biggest problem in any financial market, so that seemed like a good place to start.
What effect can a drop in the market have on someone with crypto?
Ever reached for your phone at 3am in the morning to check your crypto portfolio? What if you could set a price that your asset would never fall below? That would be a game-changer. No more liquidations, leverage more but without risk, protect your portfolio from crashes. We call it Crypto-God-Mode.
What separates Bumper from any competitors you might have?
Bumper offers a new type of asset price protection. The nearest competitor is a Stop-Loss which can trigger you out of the market, while you miss a subsequent pump. Or Options, which is a 50 year old tech that is clunky, expensive and has fixed expiry windows
How important is competitor analysis in how Bumper operates?
Little to none, right now.
Crypto is obviously one of the hottest talking points right now, what do you think the future holds for it?
DeFi will continue to explode and will categorically be the ecosystem where finance is domiciled. Along that path DeFi will eat TradFi, hoover up Sovereign digital currencies and interface seamlessly into the Metaverse. NFTs will continue to be a store of culture and become ever complex in the types of intellectual proper it can protect – again weaving into the Metaverse.
Do you have any Bumper success stories you can share with us?
Closing $20m in funding, attracting a further $25m into our protocol – launching us into the Top 10 biggest Derivative projects. New entry into the 101 Top UK Tech startups. Projected by independent consultant Economic Design to hit a $2bn TVL and our BUMP token price hitting $4.5.
This must be quite a fast-paced environment to work in?
Lightening fast. Clearly a revolution of innovation and untethered ambition, powered by some of the smartest people I’ve ever known.
It looks like you have a really strong presence on social media with Twitter, Discord, Medium, LinkedIn and YouTube. Has that delivered you any big wins you can share with us?
Community is everything to Bumper, it is who we craft our entire vision around. Our 20k strong Telegram group and 20k Twitter followers continue to push us, support and are the bedrock of all our future iterations.
And finally, what do you hope the future holds for Bumper going forward?
Bumper has discovered a new approach to combat volatility that is intuitive, efficient and composable. Its a game-changer that may become ubiquitous not only in crypto, but can be ported over to traditional finance. Unsurprising then that Bumper was highlighted in Credit Suisse Annual Symposium. Watch this space