Problem - Points are being adopted by many apps and protocols but users have little assurance they’ll ever lead to an airdrop. We need a trust system.

Enter ptsETH - Projects lock up some amount of stETH, enter a claim date, and the contract issues a non-transferable $POINTS ERC20. The project has authority on the $POINTS contract to mass mint tokens (but not burn) to distribute points. Should be on a cheap L3. The project continues to build and grow its loyal user base.

Before the claim date, the Project can call the `runAirdrop” function to convert all the points balances into a separate transferable ERC20 token and auto-creates an AMM market with the deposited ETH for liquidity.

If the claim date passes, a majority of points holders can vote and trigger a redemption of the deposited ETH, plus interest, proportionally to all points holders. So users can’t get rugged any less than the deposited stETH. 🤝

Web3 Pitches (W3P) are short product write-ups that describe an emerging problem or opportunity in the Web3 space and proposes a minimal-viable solution that could be tested and iterated with users. The pitches are presented in screenshot essay form, which is meant to be short enough to be consumed on one page of a mobile screen. :-)

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Problem - Points are being adopted by many apps and protocols but users have little assurance they’ll ever lead to an airdrop. We need a trust system.

Enter ptsETH - Projects lock up some amount of stETH, enter a claim date, and the contract issues a non-transferable $POINTS ERC20. The project has authority on the $POINTS contract to mass mint tokens (but not burn) to distribute points. Should be on a cheap L3. The project continues to build and grow its loyal user base.

Before the claim date, the Project can call the `runAirdrop” function to convert all the points balances into a separate transferable ERC20 token and auto-creates an AMM market with the deposited ETH for liquidity.

If the claim date passes, a majority of points holders can vote and trigger a redemption of the deposited ETH, plus interest, proportionally to all points holders. So users can’t get rugged any less than the deposited stETH. 🤝

Web3 Pitches (W3P) are short product write-ups that describe an emerging problem or opportunity in the Web3 space and proposes a minimal-viable solution that could be tested and iterated with users. The pitches are presented in screenshot essay form, which is meant to be short enough to be consumed on one page of a mobile screen. :-)

If you enjoy hearing about new novel Web3 use cases, please subscribe on Mirror. We appreciate the support.