Thread by @RumpelLabs

1/ Meet Rumpel🪙: Transform your points into profit with the premier point tokenization protocol.

Launching in mid-Sept, Backed by Dragonfly & Variant, and with experience from MakerDAO & Aave.

Early Access details below👇

2/ Points are the golden thread of growth strategies in Crypto. They reward early adopters, incentivize specific behavior, and build loyal communities.

They offer key benefits to Web3, like day-one incentives, greater agility, and TGE timing.

mirror.xyz/kenton.eth/WLQ…

3/ Therefore, wildly successful GTM strategies can be implemented using point programs. Two notable examples:

- Blur overtook Opensea in NFT marketshare four months after launch.

- Ethena’s USDe proliferated DeFi and became the fastest stablecoin to reach $3b. thedefiant.io/news/nfts-and-…

https://x.com/leptokurtic_/status/1796823152003097062

4/ Both projects, while driven by strong teams and tailwinds, used points to (1) prime marketplaces and (2) meticulously guide user growth.

Other projects are now rapidly launching similar programs, with 50% of recent airdrops allocated to point holders.

5/ But users are upset with the state of points.

Some are feeling farmed because they can’t lock in a profit before an airdrop.

Others feel helpless and can’t “catch up” on point stacking.

Both cause user apathy, making it difficult for projects to incentivize growth.

6 / We need a secondary marketplace - where users can trade point exposure

Users get liquidity and access to new markets, and projects keep the flexibility of their point programs

Point trading markets have emerged but all have constraints that limit liquidity & price discovery

7 / @WhalesMarket & @BubblyFinance require additional collateral from the seller & caps the maximum payout for point buyers, fixed-rate protocols don’t allow YT holders to resell earned points, @PichiFinance & @AgentLabs markets aren't designed to trade singular point exposures, which limits flexibility.

8 / Rumpel addresses these issues by allowing users to wrap each earned point into a Rumpel Point Token via a personal Rumpel Wallet, a @safe multisig.

As points accrue, the Rumpel Oracle validates offchain point balances and updates user allowances for Point Token minting.

When/if the project announces an airdrop, point tokens can be redeemed for their underlying airdrop share, including any future vesting allotments.

9/ Once tokenized and onchain, Point Tokens benefit every stakeholder.

Point farmers can sell points, earn real yield + Rumpel rewards, and de-risk specific point exposures before airdrops.

Point investors can buy points and turbo-stack to their preferred exposure.

10/ Finally, projects can capture the benefits of a liquid point program while their users can earn with flexibility.

Liquid points = speculative market dynamics = marketing boost = more users.

11 / While Rumpel is focused on bringing liquidity to points, we can imagine a world where Rumpel’s Wallet & Oracle infra is used to spin other offchain value into gold.

While still early, we’re excited to explore these possibilities with the community & our partners.

🌾-> 🪙

12 / Rumpel is built by @kentonprescott and a team with exp across MakerDAO, Aave, SpaceX, and EY

We launched Sense Protocol (), a DeFi Protocol from ‘21-’23, are deeply familiar with pointenomics, and hold conviction in its role👇

sense.xyz

https://x.com/KentonPrescott/status/1810654153049358373

13 / Rumpel is backed by @dragonfly_xyz, @BainCapVC, @variantfund, @nascentxyz, @robotventures, @Collab_Currency, @TheLAOOfficial, @joshbuckley, @bodhi_ventures, and more.

14/ Additional investors include industry builders & figures, @RyanSAdams, @FreddieFarmer, @tomwalpo, @Jai_Bhavnani, @NoahZinsmeister, @DeFi_Dad, @mrblocktw, @AlanJamesCurtis, @bcmakes, @calebtebbe, and @mmckain_ .

15 / What’s Next?

Aug 26th (NOW) - Our public @sherlockdefi Audit contest kicks off, marking our third audit!

Next week - Releasing our tech docs & info on Rumpel rewards

Early Sept - Rumpel Early Access officially opens

Mid-Sept - Mainnet Launch with Partner Point Issuers

audits.sherlock.xyz/contests/494

16 / Rumpel Early Access is invite-only, and all users will be rewarded with Rumpel Straw 🌾, our native point. More info to come.

🎁 We have a surprise for some users of points trading marketplaces, so be sure to follow @RumpelLabs to catch its announcement!

17 / Ethereum L1 Mainnet Launch

Rumpel is excited to support @ethena_labs, @symbioticfi, @ZircuitL2, and @Karak_Network in bringing liquidity to their point programs

With Early Access, you can tokenize their points, trade them on Uniswap v3, and earn Straw🌾

Let's look at each

18 / @ethena_labs is a synthetic dollar with internet native yield fullly collateralized by crypto assets and offsetting derivative hedge positions

19 / @symbioticfi is a customizable and immutable shared security protocol designed to help developers innovate faster and safer. Decentralization should not be hard nor optional.

20 / @ZircuitL2 is a cutting-edge zk rollup with AI-enabled security, designed to enhance transaction safety and efficiency on Layer 2 networks. It is quickly becoming home to a large number of LRTs and other DeFi protocols, offering a seamless environment for dapp deployment.

21 / And finally, @Karak_Network is a universal restaking layer that boosts cryptoeconomic security by enabling users to repurpose staked assets across Ethereum and other networks. It provides a marketplace for developers to incentivize validators with non-dilutive rewards, ensuring scalable security.

22 / 🏗️ Integrations on the horizon

Our first distribution partner to announce is @RainmakerWallet, the airdrop-hunting smart wallet.

Rainmaker supports 10+ point programs, including all of the above, so we’re excited to bring point tokens & airdrop-hunting opportunities to their users.

More details alpha, to follow.

23/ Learn more about Rumpel Protocol, its origin story, vision, and other details on our first blog post:

mirror.xyz/0x25E426b153e7…

24 / You can get an invite to Rumpel Early Access by quote-tweeting this thread with why you’re excited about Rumpel.

We’ll DM invites to 20 random QTs.

+ follow @RumpelLabs and turn 🔔 on for important details on the Rumpel Straw Program.

https://x.com/RumpelLabs/status/1828090955209310238

25/ {End of thread}