Rumpel Labs Announces DeFi Protocol for Tokenizing Airdrop Points

by Giorgi Kostiuk

a year ago

Goal and Support
Issues with Existing Airdrop Model
Rumpel's New Approach

In September, Rumpel Labs will launch a new DeFi protocol aimed at tokenizing and trading airdrop points.

Goal and Support

The Rumpel Labs protocol is backed by venture capital firms including Dragonfly and Variant, aiming to improve liquidity and price discovery for offchain loyalty points, creating new opportunities for point holders, traders, airdrop hunters, and point issuers.

Issues with Existing Airdrop Model

The existing airdrop model is plagued by token underperformance and contention over arbitrary payouts. This results in returns that are significantly lower than users' expectations. Some users feel they are 'late to a points program' or 'uncomfortable exposing their capital' to smart contract risks.

Rumpel's New Approach

Rumpel offers a solution by allowing each earned point to be ‘wrapped’ into a Rumpel Point Token via a specialized wallet. This allows points to be bought and sold, providing transparency around their tangible value.

Rumpel Labs' new protocol promises to address existing airdrop issues and improve liquidity and price discovery for loyalty points.

Rewards

More rewards

Discover enhanced rewards on our social media.

Other news

Corporations Experiment with Digital Asset Treasuries

Corporations are testing digital asset treasuries and tokenized collateral for various financial applications.

Maya Lundqvist2 minutes ago

Binance Alpha's Strategy Focuses on Early-Stage Coin Listings

Binance Alpha focuses on early-stage coin listings, providing a curated trading environment within the Binance Wallet for sophisticated users seeking emerging innovations.

Li Weicheng4 minutes ago

AIAV Listing on Binance Alpha Expected to Boost Liquidity

The listing of AIAV on Binance Alpha is expected to enhance liquidity and provide a validation signal for the project.

Leo van der Veen4 minutes ago

Circle USDC Experiences Significant Redemption and Circulation Decrease

Circle USDC experienced a significant decrease in circulation, redeeming $57 billion while issuing $46 billion, resulting in a net decrease of $11 billion.

Aisha Farooq15 minutes ago

Circle's Reserve Composition and Market Position

Circle's reserve composition is heavily weighted toward short-term US government securities, with approximately $51 billion in overnight reverse repurchase agreements and around $146 billion held in Treasury bills with maturities under three months.