hey welcome back everybody to altcoin daily where you subscribe for daily videos on
everything going on in the cryptocurrency space today how are you guys doing today
how are you guys doing let me know below let's talk about volatility in cryptocurrency so
volatility in cryptocurrency can be life-changing right volatility i'm talking about the huge price
swings up and down it's honestly the reason why we're all here i love volatility volatility is
opportunity right now you can make huge amounts of money in cryptocurrency because of how high
these different coins pump however as we all know volatility can burn you too
you can lose because of volatility and nobody likes to lose question for you question for you
what are some of the best ways today that crypto investors and crypto traders can mitigate their
risk what are some of the best ways to mitigate risk on downwards volatility in the cryptocurrency
market comment your thoughts to this question in the comments section below i look forward to
reading what you all have to say and i actually have one unique solution to share with you today
i actually want to clue you in to a rather interesting d5 protocol called bumper finance
which offers a smart contract d5 solution to help protect you from downwards volatility it's
actually a really interesting product when people say that defy is going to disrupt traditional
financial products i think it's things like this that they're talking about bumper finance
is sponsoring today's video so let me tell you all about them first of all what is bumper finance
well created by the same team who started index and block 8 bumper finance a d5 protocol helps you
cryptocurrency trader cryptocurrency investor reduce your risk exposure when the crypto market
goes down so you connect your wallet to the bumper finance dap you set the floor you set the price
that you want to protect if the market crashes and if the market crashes your assets will not fall
below that price more importantly unlike a stop loss if the market pumps your crypto
assets will rise too so how does bumper work how does it manage this so bumper it's a
permissionless on-chain asset price protection protocol with takers and makers of protection
you'll need to stake bump in order to be either a maker or a taker bump is also a governance token
and holding it slash using bump it provides all kinds of loyalty benefits anyway let's talk about
how this works with the makers and the takers so makers of protection provide liquidity to bumper
to earn yield in a stable coin usdc and takers of protection get price protection also because
everything is executed with smart contracts all users have to do to protect their assets
is simply connect a compatible ethereum wallet like a meta mask to the bumper web 3d app
and you set the amount and you set the price floor that you wish to protect and then in return the
protocol actually locks the asset in the bumper smart contract and you receive a representative
token like for example a b eth and if you want to end the price protection all you have to do
is simply send your b eth or equivalent value back to the protocol and bumper returns the protected
amount back to the user's wallet minus any premium fees of course now liquidity providers actually
use the bumper dap to send usdc to the protocol to receive a yield and in return bumper sends
the user a corresponding amount of busdc if the user wants to withdraw their usdc
they can simply return their busdc to the protocol and bumper returns their original supplied
usdc plus the accrued interest of course all back to their wallet here's the thing guys
the current market of financial instruments to hedge volatility is actually underserved right
now options contracts are complex expensive have fixed expiration windows stop losses
take you out of the market completely meaning you can miss the subsequent surge
bumper finance is trying to corner the market provide value bringing affordable efficient and
permissionless price protection in d5 in just a couple clicks the bumper protocol actually has
already brought in over 25 million in deposits during the liquidity provision program bumper
is certainly one to watch as you can see so you saw the ui you saw the ux the user interface the
user experience intuitive easy to use anybody can use it they offer near zero slippage which is good
they're actually currently a top 10 d5 derivative by total value locked which is good they're going
after an addressable market of 2 trillion plus which is great and 10 million 10 million dollars
has actually been raised from vcs thus far and additional funding on top of that 10 million
was actually turned down because they assessed that the protocol was already primed to succeed
interesting fact the cto sam brooks he was the key economic architect of haven
which independently pivoted into synthetics we know synthetics d5 blue chip for your continued
research on this product and to find out more about the company the protocol and the token
or to participate yourself i will leave links to their website in the description
obviously do your own due diligence this video is just a starting off point
make your own decisions be smart follow all the laws in your respective country this video is not
financial advice just informational and opinion but my opinion is that this seems like pretty cool
and innovative tech i mean who doesn't want to protect yourself when the market dumps so i'll
leave links to all the pertinent websites in the comments below please give me your thoughts on all
of this in the comments is this something that interests you is this something that you'd use
anyways this is aaron at altcoin daily we drop one video every day sometimes more subscribe to
the channel like the video and let me leave you actually with a pr i love this is a pretty cool
promotional video from bumper really good use you know this products kind of hard to explain
really good use of mario and nintendo in this one minute promotion illustrating what bumper does
with mario and nintendo so anyways watch this video i will see you tomorrow and it is turning
out to be a great year am i right this public service announcement is brought to you by bumper
we all love to play the game of crypto problem is every time we grow our tokens to twice the size
a goomba lands on our heads and we're back to where we started but imagine if there was a cheat
code for invincibility god mode for crypto once you're big you stay big and more than that you
can go again and again no more panic selling or twitchy stop losses no more losing your position
this is one ride you don't have to get off a few clicks and you're protected when the acid rockets
you ride the pump but when the dump comes you won't care because if there's one sure thing
in crypto that goomba comes for us all protect your ambition enjoy your freedom engage god mode