Bumper Update: Addressing the Protocol Issues over the Holiday Period
We want to provide transparency on the issues raised around premium spikes and their impact on both Takers and Makers during December. Here’s where we’re at:
Assessment in Progress:
We are actively compiling a list of affected accounts via support emails to understand the full scope of the problem. If you haven’t already, please reach out via creating a ticket in Discord #support channel.
Please note the premium issue appears to only have affected a single user with two open positions only. Naturally, we will settle this matter via support correspondence.
We are currently doing a deep-dive into the reasons but at this stage cannot see anything untoward but merely a state of balance that required premium increases. This may very well be due to the levels within the protocol not yet surpassing what we call the “steady state” period.
Takers:
For Takers affected by excessive premiums, we are working to:
- Reimburse the excessive premiums.
- Assess overall positions to establish a fair policy over the matter.
Makers:
We’re analysing the drawdowns and require more time as this is a more complicated issue.
Next Steps:
Once we’ve reviewed all data, we will finalise a plan and communicate specific resolutions to those affected, and summarise to the community the solutions we provided. In the meantime, please continue to send your support inquiries if you’ve been impacted.
Office Hours:
We will host an Office Hours session later this month to provide updates and answer community questions directly. Details will be announced next week.
Thank you for your patience as we work to resolve this. We remain committed to ensuring fairness for all users and restoring confidence in the protocol.
Feel free to reach out with any questions or concerns, and we’ll do our best to assist.
Best,
The Bumper Team
We want to provide transparency on the issues raised around premium spikes and their impact on both Takers and Makers during December. Here’s where we’re at:
Assessment in Progress:
We are actively compiling a list of affected accounts via support emails to understand the full scope of the problem. If you haven’t already, please reach out via creating a ticket in Discord #support channel.
Please note the premium issue appears to only have affected a single user with two open positions only. Naturally, we will settle this matter via support correspondence.
We are currently doing a deep-dive into the reasons but at this stage cannot see anything untoward but merely a state of balance that required premium increases. This may very well be due to the levels within the protocol not yet surpassing what we call the “steady state” period.
Takers:
For Takers affected by excessive premiums, we are working to:
- Reimburse the excessive premiums.
- Assess overall positions to establish a fair policy over the matter.
Makers:
We’re analysing the drawdowns and require more time as this is a more complicated issue.
Next Steps:
Once we’ve reviewed all data, we will finalise a plan and communicate specific resolutions to those affected, and summarise to the community the solutions we provided. In the meantime, please continue to send your support inquiries if you’ve been impacted.
Office Hours:
We will host an Office Hours session later this month to provide updates and answer community questions directly. Details will be announced next week.
Thank you for your patience as we work to resolve this. We remain committed to ensuring fairness for all users and restoring confidence in the protocol.
Feel free to reach out with any questions or concerns, and we’ll do our best to assist.
Best,
The Bumper Team
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