Bumpers $20m bid to undercut Deribit Crypto Options goes live on September 7, 2023
–News Direct–
Bumper, a decentralised finance (DeFi) protocol, today launched its crypto options killer. The equation that underpins the protocol, promises jaw-dropping improvements over traditional Black-Scholes option desks, undercutting the market leader Deribit, by an average of 30% and set to disrupt a $13 trillion market.
Bumpers innovation is the culmination of a three-year research and development programme, backed by $20m in early funding, and collaboration with the Swiss Center for Cryptoeconomics, known for work on Synthetix, and coded by renowned developers Digital Mob, who previously worked on protocols such as Barnbridge, Gnosis and Filecoin.
The result is a protocol that undercuts traditional options desks by one-third, while paying between 3-18% APR to Liquidity Providers...