Bumper is a decentralized finance protocol aimed at protecting cryptocurrency holders from downside risk while preserving opportunities for appreciation. Bumper consists of a decentralized software facility for 'Takers' of protection to operate diametrically to 'Makers' of liquidity.
BUMP is the ERC-20 standard governance token for Bumper and is designed to provide increasing levels of decision-making ability and control over the product to the users, asset owners, and other stakeholders.
The Bumper protocol will be governed by holders of the Bumper Governance Token, BUMP, an ERC-20 token. BUMP can be acquired in several ways. The primary method of receiving Bumper will be as a reward for acting as a Maker or Taker in using the protocol. BUMP can also be acquired through pre-existing token allocations, token rewards for protocol research and design tasks, decentralized "Yield Farming" in protocol bootstrap phase ahead of v1.0 launch, decentralized swaps / purchases in protocol bootstrap phase ahead of v1.0 launch, and payment to service providers.
Voting and Control
The holders of BUMP will control policies critical to the development and functions of the Bumper protocol and the Bumper marketplace. BUMP holders will propose and vote on referendums regarding protocol safety, economics, expansion and updates, as well as decisions on which digital assets should be accepted in the Reserve.