How to open an earn position

In order to open a protection position using Bumper, you need to commit USDC stablecoins to the protocol and bond some BUMP tokens. Here are the basic steps to follow:
Open an earn position
  • Navigate to the dApp and ensure your wallet is connected
  • Select ‘EARN’ from the tab menu
  • Click the orange ‘EARN’ button to start the process
  • From the dropdown menu, select the stablecoin asset you wish to deposit to the protocol and choose the amount you wish to deposit (you can click MAX to commit all your available funds)
  • Choose the market you wish to provide liquidity for. Each market (e.g. ETH, wBTC) uses different liquidity pools. You can provide stablecoin liquidity to as many pools as you like.
  • Now, in the next pane, choose an earning period. This is how long your position will be open for.
  • In the next pane, select a Risk Tier. The higher the number you set, the more you are exposed to potential gains and losses. The risk tier you choose is relative to all other users with open earning positions in the protocol.
  • You will see the required bond in the next pane below. This is the number of BUMP tokens you must have in your wallet that will be bonded into the protocol. Your bond is returnable when you close your position
  • In the bottom pane, you will see the stats for your position. If you’re happy, click ‘NEXT’
  • Now you need to confirm your Earn policy. Read through the details, and when you’re ready to proceed, tick the checkbox and then hit ‘CONFIRM’
  • Now approve the transaction in your Web3 wallet, and then wait for it to be confirmed on the blockchain
  • Once completed, you’ll see a summary of your position and can set a reminder on your calendar and/or an expiry alert for when the position ends.