The previous chapter presented theoretical notions of token design in blockchain ecosystems. We now proceed with a case study of how these notions are in evidence in an existing token project. Our analysis will focus on “Bumper” [1], an ehereum-virtual-machine (EVM) compatible project, the business case of which revolves around price-risk hedging of existing token positions. As in the previous case studies we begin with an analogue business case from traditional finance in order to demonstrate how blockchain-based token ecosystems can be understood of as translations of established business practices into a new technological context. We then proceed with an examination of the apparent token design calibrations by the protocol designers, based on Bumper’s official documentation and on artefacts published under the auspices of its governance body. We thus demonstrate how traditional finance concepts and processes have found direct analogues in the construction of Bumper’s crypto-tokens.