Blockchain
Bumper Finance Announces Price Protection Against Market Volatility
London, United Kingdom–(Newsfile Corp. – November 15, 2021) – Bumper Finance has announced Price Protection Against Market Volatility. The financial world is seeking to migrate assets on-chain to take advantage of the utilities of DeFi smart contracts in developing their financial instruments for the Web 3.0 economy, an initiative that is often set back by the volatile nature of the cryptocurrency markets.
This is especially true when compared to traditional markets, where asset price-protection is commonplace. Price protection of on-chain assets is one possible use of DeFi that is currently underexploited. Bumper Finance is announcing a new price-protection DeFi protocol that fills this market gap.
The protocol lets takers of protection (Takers) pay USDC premiums to set a price-floor for the current asset. They must also stake $BUMP, the native token of the protocol. The asset is staked and a representative token (which can be deployed into the ERC-20 ecosystem) is provided in its place. After two weeks, Takers can redeem the policy at any time at the value they set, irrespective of the current asset price, and return the representative token to complete the policy and receive its value.
The protocol is capitalised by the makers of this protection (Makers) and the protocol’s capital reserves. Makers earn a yield on their USDC deposits, and can participate in a low, medium, and high-risk pool to earn it. The protocol rebalances these pools in response to the market to ensure collateral-policy ratios are appropriate. There are further mechanisms in place to guarantee policies, including opening pools to arbitrage bots to rebalance it, and a USDC prudential reserve.
Bumper Finance pays out both policies and yield in USDC. It follows the trend of companies using the USDC stablecoin when conducting business on-chain. Visa, for example, did similar when it allowed transactions to be settled with USDC, in partnership with Crypto.com. As well as the USDC, the staked BUMP token, which is the protocol’s native governance and utility token, is redeemed by Takers. It is also earned by Makers participating in the yield-bearing pools alongside their USDC.
Although there are insurance-type protocols which protect assets in the case of Layer 2 error, smart contract risk, exploits and transaction completion risk, Bumper Finance is the first protocol to offer generalised price-protection for the assets it supports. On launch, the asset is ETH, but there are plans to increase the available asset pool after the protocol goes live. It has also planned an upcoming partnership with Panther to ensure ‘privacy by default’ for users of its product.
Financial instrumentation moving on-chain is a process that is expected to continue as the DeFi market continues to grow. Bumper’s announcement of the launch of their new DeFi price protection protocol may be greeted with interest, as traders and investors look for ways to smooth the cryptocurrency’s market’s famed volatility during the 2021 trend of increasing adoption of distributed ledger technologies.
Contact person: Jason Suttie
Email: [email protected]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/103632
Blockchain
Bybit Expands bbSOL Yield Opportunities Through Strategic DeFi Partnerships
Blockchain
This Week in Finance News: 11 Stories You Need to See
With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help finance journalists and consumers stay on top of the week’s most newsworthy and popular releases, here’s a recap of some major stories from the week that shouldn’t be missed.
The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download.
- Prosperity or catastrophe: #Insurance2040 study reveals four possible futures for the industry
By 2040, technological innovation driven by customer centricity could pave the way to greater climate resilience and more personalized offerings by the insurance industry. Alternatively, insurance could become a luxury afforded only to the wealthiest few. - Cardinal Health announces two strategic additions to its portfolio
Cardinal Health will acquire a majority stake in GI Alliance (GIA), the country’s leading gastroenterology (GI) management services organization (MSO), from a combination of GIA physician owners and funds managed by affiliates of Apollo. Cardinal Health will also acquire the Advanced Diabetes Supply Group (ADSG), one of the country’s leading diabetic medical supplies providers, for approximately $1.1 billion in cash. - BlackRock Launches New BUIDL Share Classes Across Multiple Blockchains to Expand Access and Potential of BUIDL Ecosystem
This initiative represents the next step in the evolution of the tokenization market, by enabling BUIDL to be used within leading blockchain-based financial products and infrastructure across ecosystems. - Primo Brands Corporation Announces Successful Completion of Merger of Primo Water and BlueTriton Brands
“I believe Primo Brands is positioned to be a leader in the healthy hydration beverage category, thanks to the strength of its iconic, sustainably-sourced brands, its robust operations and extensive North American network, and its responsible operation of numerous springs across the country,” said Dean Metropoulos, Non-Executive Chairman of the Board of Directors of Primo Brands. - Jackson Hewitt Tax Services Expands Workforce, Offering Job Opportunities Nationwide for Upcoming Tax Filing Season
The week-long event will launch the combined hiring of 18,000 employees to prepare for the upcoming tax filing season. The Jackson Hewitt hiring events are open to the public and include on-site interviews. Qualified candidates could receive a job offer immediately. - PNC Bank to Double Planned Branch Openings to More Than 200 Across Six States This announcement brings the bank’s total investment to approximately $1.5 billion to open more than 200 new branch locations in 12 cities across the U.S. over the next five years, while completing the renovations of 1,400 existing branches during the same time period.
- Alchemy Pay Expands Virtual Card Functionality with Google Pay Support The new card BINs added will significantly enhance the capabilities of crypto cards, expanding their support for a broader range of payment scenarios and improving transaction success rates. This advancement is particularly impactful when paired with Google Pay, one of the most popular and widely used digital payment platforms, trusted by millions for its convenience and security.
- Finaya Unveils Nationwide Homeownership Platform
From providing rich and current information about home values and property conditions, to finding helpful repair and remodeling providers, to shopping for and securing the right insurance, the platform simplifies the homeownership process, making it more accessible, convenient and efficient. - GenAI predicted to inspire revenue growth in 76% of businesses, but only 4% qualify as “leaders” in AI and analytics
Kearney’s report confirms that businesses are not only aware of how big data, AI, and analytics will impact revenue generation and enhance business strategies, but they are investing to stay ahead of the curve, too. - GameAbove Sports Acquires Meaningful Ownership Stake in Brisbane Bullets with NBA Legend George Gervin as Part of Ownership Team
This move marks a significant milestone for GameAbove Sports, a CapStone Holdings Inc. company, as it expands its influence on international basketball ahead of the Brisbane 2032 Olympics. - Most US shoppers are encountering generative AI while shopping without realizing it
A survey of 700 online shoppers in the US shows 71% are unaware of having used generative AI while shopping online even though most had recently shopped at retailers currently using it. 41% of customers say they would feel comfortable using a generative AI tool from a brand they trust.
For more news like this, check out all of the latest finance-related releases from PR Newswire.
Do you have a finance press release to distribute? Sign up with PR Newswire to share your story with the audiences who matter most.
Helping Journalists Stay Up to Date on Industry News
These are just a few of the recent press releases that consumers and the media should know about. To be notified of releases relevant to their coverage area, journalists can set up a custom newsfeed with PR Newswire for Journalists.
Once they’re signed up, reporters, bloggers, and freelancers have access to the following free features:
- Customization: Users can create customized newsfeeds that will deliver relevant news right to their inbox. Newsfeed results can be targeted by keywords, industry, subject, geography, and more.
- Photos and Videos: Thousands of multimedia assets are available to download and include in a journalist or blogger’s next story.
- Subject Matter Experts: Journalists will have access to ProfNet, a database of industry experts to connect with as sources or for quotes in their articles.
- Related Resources: Our journalist- and blogger-focused blog, Beyond Bylines, features regular media news roundups, writing tips, upcoming events, and more.
The post This Week in Finance News: 11 Stories You Need to See appeared first on .
Blockchain
Fintech as a Service Market: A Comprehensive Trends Analysis Predicts a USD 1,329.12 Billion by 2032 CAGR: 17.4% | PMR
-
Blockchain Press Releases5 days ago
Notabene Raises $14.5M in Series B Funding Led by DRW VC to Drive the Future of Stablecoins and Payments
-
Blockchain Press Releases6 days ago
Moby, Engages GSR to Enhance Liquidity and OTC Trading for Moby Token
-
Blockchain6 days ago
The First Cold Wallet for Miners: EMCD & Tangem Launching Limited Edition Wallets
-
Blockchain Press Releases4 days ago
Bybit WSOT 2024 Shatters Records with $100 Billion in Trading Volume, Redefining Crypto Trading Competition
-
Blockchain Press Releases3 days ago
Vantage Markets Named Leading Broker in Investing.com’s Latest Rankings for 2024 during the US Election Period
-
Blockchain3 days ago
Money Transfer Apps Industry Worth $47.67 Billion by 2029 – Regional Markets Analysis and Profiles of Leading Players PayPal, Western Union Financial Services, Wise Payments, Remitly, WorldRemit, Revolut & More
-
Blockchain7 days ago
Bybit Web3 and Aptos Kick Off APT Ecosystem Airdrop
-
Blockchain Press Releases6 days ago
Bitget Lists peaq (PEAQ) on Launchpool with 12,125,000 Tokens in Rewards