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- 1 Rumpel Labs Experiences Surge in Total Value Locked to $46 Million
Rumpel Labs Experiences Surge in Total Value Locked to $46 Million
Decentralized Tokenization Platform Sees 760% Increase in Total Value Locked
A decentralized tokenization platform, Rumpel Labs, has witnessed a remarkable surge in its total value locked (TVL) since its launch in September. According to DefiLlama data, the Ethereum-based platform now boasts a record $46 million in TVL, marking a staggering 760% increase over the last month.
Rumpel Revolutionizes Loyalty Points Tokenization
With its innovative approach as a point tokenization protocol, Rumpel Labs allows users to tokenize off-chain loyalty points for trading on decentralized secondary markets. This groundbreaking feature opens up new opportunities for point holders, airdrop hunters, and point issuers in the blockchain ecosystem.
Unlocking the Value of Loyalty Points
Traditionally, loyalty points have served as incentives for early adopters, but their value remains dormant until token launches or airdrops. Rumpel seeks to transform the points market by tokenizing them on the blockchain, enabling price discovery and liquidity for these previously static assets.
Tokenizing Points with Rumpel
Rumpel operates on the Ethereum network, allowing users to tokenize their points by converting them into ERC-20 tokens known as Point Tokens or kilo point tokens (kpTokens). These tokens represent off-chain points earned and future rewards, enriching the tokenization experience for participants.
Rumpel’s Ecosystem and Growth
Since its inception, Rumpel has supported prominent Ethereum-based projects like Ethena, Symbiotic, Zircuit, and Karak, offering a platform for tokenizing their points and promoting token liquidity within the ecosystem.
Popular Tokens on Rumpel
Currently, Wrapped eETH (WEETH) dominates Rumpel’s token ecosystem, accounting for two-thirds of total deposits. Other notable tokens include AMPHRETH and RSUSDE, linked to reputable projects like Amphor Labs and Ethena, showcasing the diversity of tokenized assets on the platform.
Record Token Inflows and Future Prospects
On November 21, Rumpel witnessed a surge in token inflows, with nearly $14 million worth of WEETH deposited on the platform, demonstrating the increasing adoption and confidence in Rumpel’s tokenization capabilities.
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The information in the article is for informational purposes only. It does not constitute any investment advice. The author and CryptoBlockNews.com are not responsible for your profits or losses arising from your investments. Investment is ultimately based on many foundations such as knowledge, accumulation, experience, research and personal decisions.
