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.
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