We're announcing the wind-down of Rumpel Labs. Our engineering team is joining 0x Labs, and we will be ceasing active operation of the protocol.

It's not easy to write this, and this isn’t the outcome we set out for, but we’re also proud of what we accomplished:

• The first fully liquid points marketplace across Ethereum and HyperEVM, supporting 17 point markets including Ethena, EtherFi, Mellow, Hyperbeat, Kinetiq, Symbiotic, and more.

• Protocol TVL grew from $28M to $171M in two months during the summer of 2025, and our largest pToken market redeemed for over $5m

• Eight successful tokenized point redemptions across multiple protocols (EtherFi S4 & S5, Ethena S3 & S4, Resolv S1 & S2, Kinetiq S1, etc), turning points into real value.

• Over 2,000 users maximizing yield and converting points into profit.

None of this happened without you. Thank you for your trust, your feedback, and your willingness to use something bold and new.

What's Changing

• No new chains, protocols, or strategies will be added

• Oracles will no longer push updates on a regular cadence

• Rumpel Season 5 points have terminated. No rewards will be distributed for Rumpel Straw from any prior season

• PToken markets in the pre-deployment phase (Ethena S5 & Ventuals S1) will not be deployed

• Rumpel will no longer assist with unfreezing non-whitelisted assets sent to Rumpel Wallets

• If time permits, Rumpel may whitelist unexpected rewards made available to Rumpel Wallets, but users are responsible for notifying the team and initiating the appropriate withdrawal method

• The protocol will continue attempting to process redemptions for outstanding pTokens that receive an airdrop, up to December 1st, 2026. After that date, any pTokens not already pending redemption or whose points are issued by uncooperative point issuers will not be placed into redemption

• The Rumpel Web App will shut down on December 14th, 2026.

What You Should Do

• For Depositors / Point Farmers - Withdraw your principal assets and mint any accrued point tokens at app.rumpel.xyz. If you withdraw and mint after today, your wallet may still accrue residual point tokens, so check back before the respective airdrop

• For Point holders - Either hold until point token redemption or sell early (be aware of illiquid markets). Some redemption timelines are unknown, but we expect to process redemptions within five business days of each point issuer's airdrop launch

It has been a distinct pleasure building for this community, and we’ll always be grateful for getting this opportunity.

Thank you for being part of it,

The Rumpel Labs Team (Kenton, Josh, Steven, and Phil)

• Hit new ATHs across TVL ($175m), pToken Market Cap ($8.4m), Total pToken Transaction Volume ($2.8m), Weekly Auto-Seller Volume ($35.4k), and Rumpel Wallets (1.8k)

• Expanded to HyperEVM Chain

• Launched several product / UI updates including: Supported TVL Display, Rumpel Tracker Updates, Referral Program Improvements, and more…

• Added 36 new strategies from 7 ecosystems including Hyperbeat, Sentiment, Kinetiq, Felix, Fluid, and Pendle

• Launched our native analytics dashboard

Rumpel continues to see budding interest for Straw, our native point, which is continuing to incentivize the growth of Rumpel’s TVL, and Rumpel’s Point Markets. With Chapter 4 concluded, we’re excited to announce Chapter 5 of Rumpel’s Straw Program to reward and encourage protocol usage and ecosystem growth.

Similar to Chapter 4, Chapter 5 is designed to be transparent, drive growth, and reward adoption. It inherits the same mechanisms and is not fungible with Chapter 5 points.

Chapter 5 points began accruing on October 1st  and will end on Jan 31st.

Continuous Rewards

The majority of Chapter 5 straw will be distributed through Continuous Emissions, rewarding users a certain amount of straw per $, per day, and per strategy. Distributions occur once a day.

Strategies

• Earning Points through Rumpel - Earn external points and be awarded straw per $ of principal deployed through Rumpel. Point earners can tokenize and sell external points without losing access to earning daily straw.

• Provide liquidity on Uniswap v3 & Hyperswap - Provide single-sided or dual asset liquidity to the designated 1% fee Point Token market on Uniswap v3. Entire range orders are eligible for daily straw, so long as their edges are within +- 10% of the 24-hour point token price range.

• Buying pTokens - Users who purchase pTokens will be awarded X straw per $ of pTokens they’ve previously purchased.

Chapter 5’s reward schedule prioritizes LPs in the early months to encourage liquidity catchup to Rumpel’s existing deposit TVL. The straw daily accrual rate will decay over time until Jan 31st, rewarding users more for participating earlier. Point buying and liquidity provision outside of Rumpel’s designated Point Token markets will be rewarded at Rumpel Lab’s discretion.

Discrete Rewards

Ambassador Program

In Chapter 5, up to 5% of Straw will be allocated and rewarded to users participating in Rumpel’s ambassador program. More Details (Link)

Boosts on Continuous Rewards

Users can earn boosts on continuous rewards for various behaviors across Chapter 5.

There are four public boosts in Chapter 5: New Market boost, Referral Boost, Community Boost, and Loyalty Boost.

New Market Boost

To invite liquidity during the early stages of market development, eligible LPs will earn a 2x boost on continuous rewards for two weeks after new point token markets are deployed.

Referral Boost

Users can accumulate Straw through referrals. Any user who refers a friend will receive 10% of Straw their referral accrues through the duration of Chapter 5.

Community Boost

Specified addresses from publicly announced Partner communities will receive a 1-2x reward boost on all actions (for a maximum of 4 weeks). Partner communities will be added at Rumpel’s discretion throughout Chapter 5.

Loyalty Boost

Addresses that participated in previous Straw seasons will be rewarded with a 1.1x Loyalty boost (equivalent to 10% boost) in Chapter 5.

How to join the Rumpel Story

Eager to join the Rumpel Story? Join our community and learn more about Rumpel to contribute to its storyline. We’re in the early Chapters.

• Learn more on our Website and Docs

• Stay up to date by following us on Twitter

• Engage with the community on our Discord

FAQs

• Do I need to stake my UniV3 LP NFT with Rumpel?

  • No, you do not need to stake your UniV3 LP NFT. Our Straw accrual system automatically picks up range orders whose edges are within +-10% of the pToken’s 24-hour price range.

• Will my Straw holding be rewarded?

  • We anticipate rewarding point holders of all seasons in the future, so stay tuned!

• Where can I see my Rumpel Straw balance?

  • At the top of the Rumpel UI

• What jurisdictions are restricted from participating in the Straw program?

  • United States, or any restricted jurisdiction or country subject to any sanctions or restrictions pursuant to any applicable law, including the Crimea region, Cuba, Iran, North Korea, Syria, Russia, or any other country to which the United States, the United Kingdom, the European Union or any other jurisdiction embargoes goods or imposes similar sanctions, or any jurisdictions in which the transacting cryptocurrencies is prohibited or restricted in any form or manner.

• When can I begin seeing my straw?

  • Oftentimes, it takes over 24 hours to see your Straw on the Rumpel UI, but for some strategies, such as Fluid Looping, it can take up to 48 hours.

• How does Straw accrual technically work? How often and on what values does Straw accrue?

  • Straw accrues once a day. The Straw calculations take into account your lowest balance over the last 24 hours, so once a position is deposited, it can take up to 24 hours before it starts accruing straw. This also goes for when a position is adjusted (increased/decreased).

  • When a user enters a position, the entry Protocol Size is set. If a user updates a position, a weighted entry Protocol Size is created, based on the original entry Protocol Size * original principal, and the new entry Protocol Size * new principal.

• What happens to my Entry Protocol Size if I withdraw temporarily?

  • If you need to withdraw, you won’t lose any straw you’ve earned. However, it will reset your entry Protocol Size for the Protocol Size Boost multiplier. You earn straw based on your lowest balance of the day. So the day you withdraw fully, you’ll not earn points. And then you’ll earn straw again when your position has been in the protocol for a full ~24-48 hours.

• Can I sell my Point Tokens and still earn straw?

  • Yes. For the Depositor Farm, straw accrues to one’s principal that’s earning external points.

• Will there be a point token market for Rumpel Straw?

  • No, there’s too much legal/regulatory uncertainty for Rumpel Labs to launch its point token market.

• What happens if my Straw stops accruing?

  • Open up a ticket on our discord, and we’ll give it a look!

Disclaimer

This document is intended solely for informational purposes regarding Rumpel's straw program. It does not constitute investment advice, nor does it serve as a recommendation or solicitation to engage in any investment activities. Participants should not rely on this document for accounting, legal, tax advice, or investment recommendations. The assumptions and figures presented are illustrative and intended to help participants understand Rumpel’s Reward program; they do not represent any commitments by Rumpel or its affiliates. These views are subject to change without notice.

By launching on HyperEVM, we’re joining a high-performance, rapidly growing ecosystem that’s redefining decentralized finance. In addition to our HyperEVM debut, we are excited to announce our first protocol launch partners: Hyperbeat and Sentiment. Together, we’re poised to deliver immediate value to users through instant point liquidity and maximized yields, amplifying HyperEVM’s potential for growth.

Why Rumpel Labs is a Game-Changer for DeFi

Rumpel Labs introduces a groundbreaking approach to DeFi reward points, addressing longstanding pain points in the airdrop and token generation event (TGE) model. Our protocol enables users to tokenize offchain loyalty points—such as those from Ethena, Symbiotic, Zircuit, and Resolv—and trade them as Rumpel Point Tokens. This innovation delivers several key benefits:

• Instant Liquidity for Points: Users no longer need to wait for airdrops or TGEs to realize value. Rumpel allows point farmers to sell their points immediately, providing real-time price discovery and capital efficiency. This eliminates the uncertainty and delays often associated with airdrop payouts, which have historically underperformed expectations.

• Enhanced Transparency and Value: By tokenizing points, Rumpel creates a transparent secondary market for trading, enabling better price discovery for point holders, traders, and issuers. This fosters trust and ensures points reflect their true market value.

• Empowering All Stakeholders: Point farmers can monetize their efforts early, investors can gain exposure to promising protocols, and issuers benefit from increased engagement and marketing through speculative trading dynamics.

Rumpel’s infrastructure, including our specialized wallet and oracle for validating offchain point balances, ensures seamless minting and redemption of Point Tokens. This not only solves liquidity constraints but also sets a new standard for how DeFi protocols incentivize and reward user engagement.

Why HyperEVM is the Ideal Chain for Rumpel

HyperEVM, launched in February 2025, is an EVM-compatible layer integrated into Hyperliquid’s high-performance Layer 1 blockchain. Its unique architecture and vibrant ecosystem make it the perfect platform for Rumpel’s innovative approach. Here’s why HyperEVM stands out:

• Unmatched Performance: Built on HyperBFT, a consensus mechanism derived from HotStuff, HyperEVM delivers sub-second block times and a theoretical capacity of 2 million transactions per second. This ensures fast, low-cost interactions critical for powering speed and scale, which are both critical for providing Rumpel’s users with the best possible on-chain experience.

• Rapid Growth and Vibrant User Base: HyperEVM’s ecosystem is expanding quickly, with daily transaction volumes exceeding 300,000 and over 20,000 active addresses. Despite explosive TVL growth to $1.2B, user saturation remains low, offering early adopters like Rumpel users a significant edge.

• Rich DeFi Opportunities: HyperEVM hosts a growing suite of tokenless protocols with active point campaigns, creating a fertile ground for airdrop farming. With 39% of $HYPE tokens ($4B at current prices) reserved for future community rewards, user activity on HyperEVM could become highly incentivized in the coming weeks/months.

• Community-Driven Rewards: Hyperliquid’s history of massive airdrops—distributing 31% of $HYPE to 94,000 users in November 2024—underscores its commitment to rewarding early participants. HyperEVM’s focus on organic engagement aligns perfectly with Rumpel’s mission to empower users.

By launching on HyperEVM, Rumpel taps into a high-performance, user-centric ecosystem to deliver liquid, transparent, and rewarding DeFi experiences.

Strategic Launch Partners: Hyperbeat and Sentiment

We’re excited to announce this launch with our innovative partners, Hyperbeat and Sentiment, both of which enhance Rumpel’s value proposition and strengthen the HyperEVM ecosystem.

• Hyperbeat: A leading protocol on HyperEVM, Hyperbeat simplifies DeFi with automated strategies and native leverage, managing $123M in TVL across its vaults and strategies. Rumpel’s first supported strategy, Hyperbeat Ultra HYPE vault distributes capital across multiple protocols, earning users Heart points and rewards from partners like HyperLend and HypurrFi.

• Sentiment: As a leveraged DeFi lending protocol, Sentiment supports core HyperEVM assets like $HYPE and $USDXL, providing a robust foundation for lending and borrowing. Sentiment’s core innovation is its ability to house Hyperliquid Perp positions as collateral. Rumpel's first two supported strategies are Sentiment’s HYPE Superpool lending position & wstHYPE/wHYPE looping.

These partnerships enable Rumpel users to seamlessly integrate point trading with automated yield farming and leveraged lending, creating a powerful synergy within HyperEVM’s ecosystem.

Why This Launch Matters

Rumpel’s launch on HyperEVM is a defining moment for DeFi. By enabling users to tokenize and trade points without waiting for airdrops or TGEs, we’re removing barriers to liquidity and empowering users to capture value in real time. This addresses critical issues in the current airdrop model, where 23 of 31 major airdrop tokens have lost value post-listing, often due to opaque criteria and underwhelming allocations.

HyperEVM’s high-performance infrastructure and vibrant, undersaturated ecosystem provide the ideal environment for Rumpel to scale. Our partnerships with Hyperbeat and Sentiment further amplify this potential, offering users diverse, high-yield strategies to engage with the ecosystem.

This launch isn’t just about Rumpel—it’s about redefining how DeFi rewards work. By bringing liquidity, transparency, and flexibility to points, we’re setting a new standard for user empowerment. HyperEVM’s growth trajectory and innovative architecture make it the perfect stage for this transformation.

Get Started with Rumpel on HyperEVM

Join us as we go live on HyperEVM. To get started:

1. Visit the Rumpel app: app.rumpel.xyz

2. Connect your wallet & create a Rumpel Wallet

3. Deposit into one of our featured HyperEVM Strategies

4. Earned points are automatically tokenized & sold for USDC & HYPE profits (for auto-seller opt-in users). Hyperbeat & Sentiment points accrue weekly, on Monday & Tuesday, respectively.

The HyperEVM ecosystem is still early, and the opportunities are vast. With Rumpel, you can be at the forefront of DeFi’s next evolution. Stay tuned for updates, and follow us on X or Discord for the latest updates and announcements.

Let’s spin points into gold.

Since the start of Chapter 3, Rumpel has:

• Deployed our Auto-Seller, which automatically tokenizes and sells user points, allowing our opt-in users to generate true Passive Point profits

• Added 42 new strategies from four ecosystems (Pendle, Fluid, Contango, Mellow)

• Launched 2 new pToken Markets (Ethena S4, Resolv S2)

• Launched our official Dune Dashboard

• Completed our largest point redemption with Ethena Labs Season 3

Rumpel continues to see budding interest for Straw, our native point, which is continuing to incentivize the growth of Rumpel’s TVL, and Rumpel’s Point Markets. With Chapter 3 concluded, we’re excited to announce Chapter 4 of Rumpel’s Straw Program to reward and encourage protocol usage and ecosystem growth.

Similar to Chapter 3, Chapter 4 is designed to be transparent, drive growth, and reward adoption. It inherits the same mechanisms and is not fungible with Chapter 3 points.

Chapter 4 points began accruing on June 1st and will end on Sept 30th.

Onboarding Rewards

Chapter 4 of the Straw Program features several novel rewards to encourage and incentivize onboarding. Onboarding rewards will be issued as raffle entries that unlock eligibility to participate in receiving a portion of the 0.1% of Season 4 Straw allocated to onboarding rewards.

The onboarding rewards entries will be awarded to the following first-time actions:

• Deploy Rumpel wallet (with auto-sell enabled) - 10 entries

• Mint & Sell pToken - 1 entry

• Buy pToken - 1 entry

Continuous Rewards

The majority of Chapter 4 straw will be distributed through Continuous Emissions, rewarding users a certain amount of straw per $, per day, and per strategy. Distributions occur once a day.

Strategies

1. Earning Points through Rumpel - Earn external points and be awarded straw per $ of principal deployed through Rumpel. Point earners can tokenize and sell external points without losing access to earning daily straw.

2. Provide liquidity on Uniswap v3 - Provide single-sided or dual asset liquidity to the designated 1% fee Point Token market on Uniswap v3. Entire range orders are eligible for daily straw, so long as their edges are within +- 10% of the 24-hour point token price range.

3. Buying pTokens - Users who purchase pTokens will be awarded 100 straw per $ of pTokens they’ve previously purchased.

Chapter 4’s reward schedule prioritizes LPs in the early months to encourage liquidity catchup to Rumpel’s existing deposit TVL. The straw daily accrual rate will decay over time until Sep 30th, rewarding users more for participating earlier.

Discrete Rewards

In Chapter 4, up to 5% of Straw will be allocated and rewarded to users participating in Public Engagement campaigns designed to spread the word about using Rumpel to access instant point liquidity & maximize yields. These campaigns will be announced on Rumpel’s Social Media & Community channels and will be tracked & rewarded through specified publicly available InfoFi dashboards.

Boosts on Continuous Rewards

Users can earn boosts on continuous rewards for various behaviors across Chapter 4.

There are four public boosts in Chapter 4: New Market boost, Referral Boost, Community Boost, and Loyalty Boost.

New Market Boost

To invite liquidity during the early stages of market development, eligible LPs will earn a 2x boost on continuous rewards for two weeks after new point token markets are deployed.

Referral Boost

Users can accumulate Straw through referrals. Any user who refers a friend will receive 10% of Straw their referral accrues through the duration of Chapter 4.

Community Boost

Specified addresses from publicly announced Partner communities will receive a 1-2x reward boost on all actions (for a maximum of 4 weeks). Partner communities will be added at Rumpel’s discretion throughout Chapter 4.

Loyalty Boost

Addresses that participated in previous Straw seasons will be rewarded with a 1.1x Loyalty boost (equivalent to 10% boost) in Chapter 4.

How to join the Rumpel Story

Eager to join the Rumpel Story? Join our community and learn more about Rumpel to contribute to its storyline. We’re in the early Chapters.

• Learn more on our Website and Docs

• Stay up to date by following us on Twitter

• Engage with the community on our Discord

FAQs

1. Do I need to stake my UniV3 LP NFT with Rumpel?

   1. No, you do not need to stake your UniV3 LP NFT. Our Straw accrual system automatically picks up range orders whose edges are within +-10% of the pToken’s 24-hour price range.

2. Where can I see my Rumpel Straw balance?

   1. At the top of the Rumpel UI

3. What jurisdictions are restricted from participating in the Straw program?

   1. United States, or any restricted jurisdiction or country subject to any sanctions or restrictions pursuant to any applicable law, including the Crimea region, Cuba, Iran, North Korea, Syria, Russia, or any other country to which the United States, the United Kingdom, the European Union or any other jurisdiction embargoes goods or imposes similar sanctions, or any jurisdictions in which the transacting cryptocurrencies is prohibited or restricted in any form or manner.

4. When can I begin seeing my straw?

   1. Oftentimes, it takes over 24 hours to see your Straw on the Rumpel UI, but for some strategies, such as Fluid Looping, it can take up to 48 hours.

5. How does Straw accrual technically work? How often and on what values does Straw accrue?

   1. Straw accrues once a day. The Straw calculations take into account your lowest balance over the last 24 hours, so once a position is deposited, it can take up to 24 hours before it starts accruing straw. This also goes for when a position is adjusted (increased/decreased).

   2. When a user enters a position, the entry Protocol Size is set. If a user updates a position, a weighted entry Protocol Size is created, based on the original entry Protocol Size * original principal, and the new entry Protocol Size * new principal.

6. What happens to my Entry Protocol Size if I withdraw temporarily?

   1. If you need to withdraw, you won’t lose any straw you’ve earned. However, it will reset your entry Protocol Size for the Protocol Size Boost multiplier. You earn straw based on your lowest balance of the day. So the day you withdraw fully, you’ll not earn points. And then you’ll earn straw again when your position has been in the protocol for a full ~24-48 hours.

7. Can I sell my Point Tokens and still earn straw?

   1. Yes. For the Depositor Farm, straw accrues to one’s principal that’s earning external points.

8. Will there be a point token market for Rumpel Straw?

   1. No, there’s too much legal/regulatory uncertainty for Rumpel Labs to launch its point token market.

9. What happens if my Straw stops accruing?

   1. Open up a ticket on our discord, and we’ll give it a look!

Disclaimer

This document is intended solely for informational purposes regarding Rumpel's straw program. It does not constitute investment advice, nor does it serve as a recommendation or solicitation to engage in any investment activities. Participants should not rely on this document for accounting, legal, tax advice, or investment recommendations. The assumptions and figures presented are illustrative and intended to help participants understand Rumpel’s Reward program; they do not represent any commitments by Rumpel or its affiliates. These views are subject to change without notice.

• Deployed Point Stream States, adding transparency to Real Yield performance for point sellers

• Automated Rumpel Oracle Updates to up users’ minting cadence

• Added 41 new strategies from four ecosystems (Euler, Resolv, Mellow, and Symbiotic)

• Launched two new pToken markets (EtherFi s5, Resolv s1) and initiated redemption for the EtherFi s4 pToken

• Announced sENA rewards for Rumpel Ethena S3 pToken LPs on Univ3, unlocking three new point streams for our users

Rumpel continues to see budding interest for Straw, our native point, which continues to incentivize growth in Rumpel’s Protocol Size. With Chapter 2 concluded, we’re excited to announce Chapter 3 of Rumpel’s Straw Program to reward and encourage early usage.

Similar to Chapter 2, Chapter 3 is designed to be transparent, drive growth, and reward early users. It inherits the same mechanisms and is not fungible with Chapter 2 points.

Chapter 3 points began accruing on Mar 1st.

Continuous Rewards

The majority of Chapter 3 straw will be distributed through Continuous Emissions, rewarding users a certain amount of straw per $, per day, and per strategy. Distributions occur once a day.

Strategies

1. Earning Points through Rumpel - Earn external points and be awarded straw per $ of principal deployed through Rumpel. Point earners can tokenize and sell external points without losing access to earning daily straw.

2. Provide liquidity on Uniswap v3 - Provide single-sided or dual asset liquidity to the designated 1% fee Point Token market on Uniswap v3. Entire range orders are eligible for daily straw, so long as their edges are within +- 10% of the 24-hour point token price range.

Chapter 3’s reward schedule prioritizes LPs in the early months to encourage liquidity catchup to Rumpel’s existing deposit TVL. The straw daily accrual rate will decay over time until Jun 1st, rewarding users more for participating earlier.

Boosts on Continuous Rewards

Users can earn boosts on continuous rewards for various behaviors across Chapter 3.

There are three public boosts in Chapter 3: Protocol Size boost, New Market boost, and Referral Boost.

Protocol Size Boost

With the Protocol Size Boost, users are rewarded for depositing early & helping grow TVL & liquidity. All straw earners get a boost multiplier as a function of protocol growth.

Protocol size is composed of Deposit TVL, Univ3 liquidity eligible for straw, and in-wallet point token market cap.

The boost continuously ranges between 1x-3x, ensuring users never earn less than their base continuous rewards. For example: if Rumpel grows 3x after a user creates a position, then they’re earning: 3 x 9 = 21 points per $ per day.

A user’s average starting protocol size, the one used to measure their “entry”, will carry over from Chapter 2. E.g. if a user entered at $10m of Protocol Size in Chapter 2 and the current protocol size is $40m during Chapter 3, then their deposit accrues at a 3x boost (cap). This carries on for all future chapters.

New Market Boost

To invite liquidity during the early stages of market development, eligible LPs will earn a 2x boost on continuous rewards for two weeks after new point token markets are deployed.

Referral Boost

Users can accumulate Straw through referrals. Any user who refers a friend will receive 10% of Straw their referral accrues through the duration of Chapter 3.

How to join the Rumpel Story

Eager to to join the Rumpel Story? Join our community and learn more about Rumpel to contribute to its storyline. We’re in the early Chapters.

• Learn more on our Website and Docs

• Stay up to date by following us on Twitter

• Engage with the community on our Discord

FAQs

1. Do I need to stake my UniV3 LP NFT with Rumpel?

   1. No, you do not need to stake your UniV3 LP NFT. Our Straw accrual system automatically picks up range orders whose edges are within +-10% of the pToken’s 24-hour price range.

2. Where can I see my Rumpel Straw balance?

   1. At the top of the Rumpel UI

3. What jurisdictions are restricted from participating in the Straw program?

   1. United States, or any restricted jurisdiction or country subject to any sanctions or restrictions pursuant to any applicable law, including the Crimea region, Cuba, Iran, North Korea, Syria, Russia, or any other country to which the United States, the United Kingdom, the European Union or any other jurisdiction embargoes goods or imposes similar sanctions, or any jurisdictions in which the transacting cryptocurrencies is prohibited or restricted in any form or manner.

4. When can I begin seeing my straw?

   1. Oftentimes, it takes over 24 hours to see your Straw on the Rumpel UI, but for some strategies, such as Fluid Looping, it can take up to 48 hours.

5. How does Straw accrual technically work? How often and on what values does Straw accrue?

   1. Straw accrues once a day. The Straw calculations take into account your lowest balance over the last 24 hours, so once a position is deposited, it can take up to 24 hours before it starts accruing straw. This also goes for when a position is adjusted (increased/decreased).

   2. When a user enters a position, the entry Protocol Size is set. If a user updates a position, a weighted entry Protocol Size is created, based on the original entry Protocol Size * original principal, and the new entry Protocol Size * new principal.

6. What happens to my Entry Protocol Size if I withdraw temporarily?

   1. If you need to withdraw, you won’t lose any straw you’ve earned. However, it will reset your entry Protocol Size for the Protocol Size Boost multiplier. You earn straw based on your lowest balance of the day. So the day you withdraw fully, you’ll not earn points. And then you’ll earn straw again when your position has been in the protocol for a full ~24-48 hours.

7. Can I sell my Point Tokens and still earn straw?

   1. Yes. For the Depositor Farm, straw accrues to one’s principal that’s earning external points.

8. Will there be a point token market for Rumpel Straw?

   1. No, there’s too much legal/regulatory uncertainty for Rumpel Labs to launch its point token market.

9. What happens if my Straw stops accruing?

   1. Open up a ticket on our discord, and we’ll give it a look!

Disclaimer

This document is intended solely for informational purposes regarding Rumpel's straw program. It does not constitute investment advice, nor does it serve as a recommendation or solicitation to engage in any investment activities. Participants should not rely on this document for accounting, legal, tax advice, or investment recommendations. The assumptions and figures presented are illustrative and intended to help participants understand Rumpel’s Reward program; they do not represent any commitments by Rumpel or its affiliates. These views are subject to change without notice.

Recently, Rumpel has seen budding interest for Straw, our native point, contributing to its expansion. With Chapter 1 concluded, we’re excited to announce Chapter 2 of Rumpel’s Straw Program to reward and encourage early usage.

Similar to Chapter 1, Chapter 2 is designed to be transparent, drive growth, and reward early users. It inherits the same mechanisms and is not fungible with Chapter 1 points.

Chapter 2 points began accruing on Dec 1st.

Continuous Rewards

The majority of Chapter 2 straw will be distributed through Continuous Emissions, rewarding users a certain amount of straw per $, per day, and per strategy. Distributions occur once a day.

Strategies

1. Earning Points through Rumpel - Earn external points and be awarded straw per $ of principal deployed through Rumpel. Point earners can tokenize and sell external points without losing access to earning daily straw.

2. Provide liquidity on Uniswap v3 - Provide single-sided or dual asset liquidity to the designated 1% fee Point Token market on Uniswap v3. Entire range orders are eligible for daily straw, so long as their edges are within +- 10% of the 24-hour point token price range.

Chapter 2’s reward schedule prioritizes LPs in the early months to encourage liquidity catchup to Rumpel’s existing deposit TVL. The straw daily accrual rate will decay over time until Mar 1st, rewarding users more for participating earlier.

Boosts on Continuous Rewards

Users can earn boosts on continuous rewards for various behaviors across Chapter 2.

There are three public boosts in Chapter 2: Protocol Size boost, New Market boost, and Referral Boost.

Protocol Size Boost

With the Protocol Size Boost, users are rewarded for depositing early & helping grow TVL & liquidity. All straw earners get a boost multiplier as a function of protocol growth.

Protocol size is composed of Deposit TVL, Univ3 liquidity eligible for straw, and in-wallet point token market cap.

The boost continuously ranges between 1x-3x, ensuring users never earn less than their base continuous rewards. For example: if Rumpel grows 3x since a user’s first deposit in Dec, then they’re earning: 3 x 9 = 21 points per $ per day.

A user’s average starting protocol size, the one used to measure their “entry”, will carry over from Chapter 1. E.g. if a user entered at $10m of Protocol Size in Chapter 1 and the current protocol size is $40m during Chapter 2, then their deposit accrues at a 3x boost (cap).

New Market Boost

To invite liquidity during the early stages of market development, eligible LPs will earn a 2x boost on continuous rewards for two weeks after new point token markets are deployed.

Referral Boost

Users can accumulate straw through referrals. Any user who refers a friend will receive 10% of straw their referral accrues through the duration of Chapter 2.

Discrete rewards

Chapter 2 includes one discrete reward to boost usage within the Rumpel ecosystem. Rumpel may add another type of discrete reward as unique growth opportunities arise, but it will have minimal impact on the total straw supply.

Veteran reward

Rumpel is most valuable to those who have experienced the pain point of illiquid incentives.

So, as a token of appreciation, we’re awarding another 100,000 straw (almost two weeks’ worth of depositor rewards) to each address that:

1. Earns some amount of Straw in Chapter 2

2. Has interacted with the following secondary marketplaces with over $1000 worth of value as of Sept 10th, 2024: KelpDAO’s $KEP Market, Whales Market for Points, and Point markets on Pendle Finance.

Veteran rewards will be retroactively distributed at the end of Chapter 2.

How to join the Rumpel Story

Eager to to join the Rumpel Story? Join our community and learn more about Rumpel to contribute to its storyline. We’re in the early Chapters.

• Learn more on our Website and Docs

• Stay up to date by following us on Twitter

• Engage with the community on our Discord

FAQs

1. Do I need to stake my UniV3 LP NFT with Rumpel?

   1. No, you do not need to stake your UniV3 LP NFT. Our Straw accrual system automatically picks up range orders whose edges are within +-10% of the pToken’s 24-hour price range.

2. Where can I see my Rumpel Straw balance?

   1. At the top of the Rumpel UI

3. What jurisdictions are restricted from participating in the Straw program?

   1. United States, or any restricted jurisdiction or country subject to any sanctions or restrictions pursuant to any applicable law, including the Crimea region, Cuba, Iran, North Korea, Syria, Russia, or any other country to which the United States, the United Kingdom, the European Union or any other jurisdiction embargoes goods or imposes similar sanctions, or any jurisdictions in which the transacting cryptocurrencies is prohibited or restricted in any form or manner.

4. When can I begin seeing my straw?

   1. Oftentimes, it takes over 24 hours to see your Straw on the Rumpel UI, but for some strategies, such as Fluid Looping, it can take up to 48 hours.

5. How does Straw accrual technically work? How often and on what values does Straw accrue?

   1. Straw accrues once a day. The Straw calculations take into account your lowest balance over the last 24 hours, so once a position is deposited, it can take up to 24 hours before it starts accruing straw. This also goes for when a position is adjusted (increased/decreased).

   2. When a user enters a position, the entry Protocol Size is set. If a user updates a position, a weighted entry Protocol Size is created, based on the original entry Protocol Size * original principal, and the new entry Protocol Size * new principal.

6. What happens to my Entry Protocol Size if I withdraw temporarily?

   1. If you need to withdraw, you won’t lose any straw you’ve earned. However, it will reset your entry Protocol Size for the Protocol Size Boost multiplier. You earn straw based on your lowest balance of the day. So the day you withdraw fully, you’ll not earn points. And then you’ll earn straw again when your position has been in the protocol for a full ~24-48 hours.

7. Can I sell my Point Tokens and still earn straw?

   1. Yes. For the Depositor Farm, straw accrues to one’s principal that’s earning external points.

8. Will there be a point token market for Rumpel Straw?

   1. No, there’s too much legal/regulatory uncertainty for Rumpel Labs to launch its point token market.

9. What happens if my Straw stops accruing?

   1. Open up a ticket on our discord, and we’ll give it a look!

Disclaimer

This document is intended solely for informational purposes regarding Rumpel's straw program. It does not constitute investment advice, nor does it serve as a recommendation or solicitation to engage in any investment activities. Participants should not rely on this document for accounting, legal, tax advice, or investment recommendations. The assumptions and figures presented are illustrative and intended to help participants understand Rumpel’s Reward program; they do not represent any commitments by Rumpel or its affiliates. These views are subject to change without notice.

Join us and start turning points into profits!

Origin Story

Rumpel is a pure point tokenization protocol, one that directly tokenizes each point. We started Rumpel because we wanted to sell our points before an airdrop. None existed with the UX we wanted, so we built it ourselves.

Rumpel enables secondary market liquidity and price discovery for offchain loyalty points, unlocking new opportunities for everyone.

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

We have experience launching and contributing to DeFi protocols, such as Sense Protocol, MakerDAO (now Sky Protocol), and Aave, and are backed by Dragonfly, Variant, Nascent, and Bain Cap Ventures, among others.

Liquid Point Token Markets

Out of the gate, Rumpel supports some of the largest, most demanded points on Ethereum:

• Ethena season 3 sats

• Symbiotic points

• Zircuit season 2 points

• Karak phase 2 XP

These points are wrapped into Point Tokens, in lots of 1000, and are dubbed kilo point tokens, or kpTokens. Point farmers who earn points through whitelisted strategies on Rumpel can mint and sell them as they accrue.

Users are earning up to 9.8% of real yield by tokenizing & selling their points, all without principal capital lockups. Just imagine the yields when Rumpel tokenizes all point streams.

Right now, point traders can buy/sell these points on the following designated 1% fee Uniswap v3 pools:

• Ethena kpSATs-3 / ENA

• Symbiotic kpSYM-1 / wstETH

• Zircuit kpZRC-2 / wstETH

• Karak kpKARAK-2/wstETH

On day one, these Uniswap pools are already some of the largest liquid single-point marketplaces, with ~$140k of tight, buy-side liquidity in each market.

Airdrop hunters who hold point tokens until the airdrop announcement can redeem them for their reward payout, subject to any vesting requirements.

Zero Protocol Fees

While there’s a protocol fee switch on minting and burning point tokens, there will be zero protocol fees at launch and for the foreseeable future. If Rumpel decides to enable this fee, it will notify its users well in advance.

Rumpel Straw & Early Access

We recently unveiled Rumpel Straw 🌾, our native point, and can’t wait for our earliest users to earn the first batch of rewards. Ending Dec 1st, we’ve designed Chapter 1 to be short, effective, and generous. To earn straw, just tokenize points on Rumpel, provide liquidity in one of the Uni pools, or engage with our socials on Galxe.

If you’re a previous user of a secondary points marketplace, such as KelpDAO’s KEP market, Whales market, or points markets on Pendle, we’re awarding an extra straw reward if you use Rumpel and earn straw by Oct 1st (~2 weeks). Check out the blog post for the full list & claim the reward before it’s gone!

Only Point Farmers with Early Access can access the Rumpel Portal and begin earning straw. To get Early Access, follow us on Twitter/X and RT our pinned tweet for a chance to get early access. We’re DMing 20 random accounts an early access code in 24 hours.

Finally, learn more on our Website and Docs, and engage with the community on our Discord.

See you in the new world of liquid points.

Throughout Rumpel’s Story, Straw 🌾 will represent and track how much a user has contributed to Rumpel’s growth. The story unfolds across multiple seasons, or “Chapters”, each rewarding different activities involving Rumpel Point Tokens and ecosystem development.

Drawing inspiration from our Pointenomics research, we’ve designed Chapter 1 to be short, transparent, drive growth, and reward users for being early in time and protocol size.

Unfortunately, the Rumpel dApp will block access to restricted users in certain jurisdictions, including the United States.

Continuous Rewards

The majority of Chapter 1 straw will be distributed through Continuous Emissions, rewarding users a certain amount of straw per $, per day, and per strategy. Distributions occur once a day.

Strategies

1. Earning Points through Rumpel - Earn external points and be awarded per $ of principal deployed through Rumpel. Point earners can freely tokenize and sell external points without losing access to earning daily straw.

2. Provide liquidity on Uniswap v3 - Provide single-sided or dual asset liquidity to the designated 1% fee Point Token market on Uniswap v3. Entire range orders are eligible for daily straw, so long as their edges are within +- 4% of the 24-hour point token price range.

Chapter 1 started in May with a small Private Alpha testing group. We 2x’d the reward rates to sufficiently incentivize future depositors after launch.

Still, the straw daily accrual rate will decay over time until December, rewarding users more for participating earlier.

Boosts on Continuous Rewards

Users can earn boosts on continuous rewards for various behaviors across Chapter 1. There are three public boosts in Chapter 1, Protocol Size boost, New Market boost, and Referral Boost.

Protocol Size Boost

Drawing inspiration from 3Jane’s AMPLOL point system, we’re excited to unveil Protocol Size Boost, a new type of boost mechanism that interfaces with a continuous reward schedule.

With the Protocol Size Boost, users are rewarded for depositing early & helping grow TVL & liquidity. All straw earners get a boost multiplier as a function of protocol growth.

Protocol size is composed of Deposit TVL, Univ3 liquidity eligible for straw, and in-wallet point token market cap.

The boost continuously ranges between 1x-3x, ensuring users never earn less than their base continuous rewards. For example: if Rumpel grows 3x since a user’s first deposit in June, then they’re earning: 3 x 24 = 72 points per $ per day.

New Market Boost

To invite liquidity during the early stages of market development, eligible LPs will earn a 2x boost on continuous rewards for two weeks after new point token markets are deployed.

The point token markets deployed before Rumpel’s Launch Announcement, namely Ethena, Symbiotic, Karak, and Zircuit, will not receive a New Market Boost.

Referral Boost

Users can accumulate straw through referrals. Any user who refers a friend will receive 10% of straw their referral accrues through the duration of Chapter 1.

Discrete rewards

Chapter 1 includes two discrete allocations to kickstart usage within the ecosystem and boost Rumpel’s marketing reach.

Veteran reward

Rumpel is most valuable to those who have experienced the pain point of illiquid incentives.

So, as a token of appreciation and to kickstart awareness of Rumpel, we’re awarding 84,000 straw (one week of depositor rewards) to each address that has interacted with the following secondary marketplaces with over $1000 worth of value as of Sept 10th: KelpDAO’s $KEP Market, Whales Market for Points, Pichi Finance, Agent Exchange, Bubbly Finance, Point markets on Pendle Finance.

To claim, users need to earn any amount of straw for at least a day by Oct 1st UTC 00:00. Veteran rewards will be distributed to wallets shortly after Oct 1st.

Social Engagement Reward

Rumpel will launch Galxe Quests to encourage social engagement for mainnet launch and major announcements thereafter. Check out Rumpel’s Galxe Space to stay tuned for the first quest at launch!

How to join the Rumpel Story

We’re launching this week, so follow us to stay informed to be one of the first to earn Rumpel Straw.

• Learn more on our Website and Docs

• Stay up to date by following us on Twitter

• Engage with the community on our Discord

Disclaimer

This document is intended solely for informational purposes regarding Rumpel's straw program. It does not constitute investment advice, nor does it serve as a recommendation or solicitation to engage in any investment activities. Participants should not rely on this document for accounting, legal, tax advice, or investment recommendations. The assumptions and figures presented are illustrative and intended to help participants understand Rumpel’s Reward program; they do not represent any commitments by Rumpel or its affiliates. These views are subject to change without notice.

Rumpel aims to improve liquidity and price discovery for offchain loyalty points, unlocking new opportunities for point holders, traders, airdrop hunters, and point issuers.

Points play a central role in crypto incentives, and with Rumpel, points will become the evergreen gold standard for allocating rewards for the years to come.

The Power of Points in Crypto

Points have emerged as the golden thread in growth strategies across the crypto landscape. They serve as a crucial mechanism to reward early adopters, incentivize specific behaviors, and foster loyal communities. Oftentimes, Web3 points convert into the free money that drives user engagement.

Points offer significant unique advantages for Web3 projects, including day-one incentives, enhanced agility, and optimized token generation event (TGE) timing. Instead of obfuscating airdrop criteria, teams can leverage pointenomics to “line up” user participation in specific ways, prime new markets, and predictably expand across the ecosystem. These benefits make points an indispensable tool for rapid growth and user engagement.

The effectiveness of point programs in go-to-market (GTM) strategies is evident from notable examples:

• Blur surpassed Opensea in NFT marketshare just four months post-launch

• Ethena’s USDe proliferated DeFi and became the fastest stablecoin to reach $3 billion market cap

Both projects, while driven by strong teams & tailwinds, leveraged points to prime their marketplaces and meticulously guide user growth.

As a result, web3 projects are now adopting point programs at an accelerated pace, with 50% of recent airdrops having already been allocated to point holders.

Challenges with Current Point Systems

Despite their benefits, the current state of points is leaving multiple stakeholders frustrated, including point farmers, point investors, and point-issuing projects. Let’s go through each perspective.

Point farmers are feeling farmed

Caused by a cooled Alt-token market, underwhelming allocations, surprise airdrop criteria, point farmer’s returns are far below users’ expectations of early 2024.

When reality undershoots expectations, many users feel "farmed", especially as no strong alternative exists. Some may even elicit strong public emotional reactions from perceived user betrayal. All press is good press, but teams generally want positive reactions to their airdrops. They want to be viewed as trustworthy, generous, and collaborative to their long-term believers.

Point investors can’t get upside

At the same time, point investors, usually retail users, have struggled to "catch up" on point stacking, when compared to blue whale behemoths that suck up most point streams.

As Cobie says, all the upside is being captured in private markets, so point programs are the last avenue for getting exposure before a project’s TGE & future airdrops.

Still, we’ve spoken to many users who feel they’re “late to a points program”, “aren’t comfortable with exposing their capital” to excessive smart contract risks, or “don’t want to jump through all the hoops” of getting extra allocation before an airdrop.

Point issuers can’t influence behavior

These problems are leading to user apathy among both groups, hindering project growth and diminishing the impact of point programs.

Projects have every incentive to use points. The largest benefit of points is that it allows projects to “borrow” liquidity from their future token market to fuel incentives today. It’s a powerful mechanism for attracting depositors, but it’s only as strong as their users’ perception of their points’ value.

If airdrop timelines are delayed due to a cooled alt-token market, and/or if a few “bad” actors abuse user trust, then the perceived value of points will not elicit a kinetic reaction from users. Projects need users to want their points — it’s what gives points their influence power.

As new programs come online each week, it can be even more difficult to lure users to competing point farms. How does a user quickly compare complex programs?

In summary, the problems are:

• Point farmers are feeling farmed. They have the short end of the stick in both yield payout and flexibility, and there’s no better yield opportunity outside lending & delta-neutral stablecoins, such as sUSDe and deUSD.

• Point investors are feeling left out. They’ve missed the opportunity to get exposure to some of the hottest projects.

• Point issuers are losing their ability to influence behavior with points, and they’re at risk of bad press since some users can’t de-risk before an airdrop

While these problems can be solved by resetting user expectations & a stronger alt-token market, we believe there’s a better solution.

A Secondary marketplace

The industry needs a crypto-native, secondary marketplace for points. Such a market could simultaneously solve all stakeholder problems:

• Point farmers can sell points and de-risk before an uncertain airdrop

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

• Point issuers can continue issuing points and lean on secondary markets to demonstrate the real value of their rewards program

However, we discovered many stakeholders were blocked out from these benefits, due to the limitations levied by existing point trading markets.

Our co-founders, Kenton & Josh, saw these constraints first-hand when they tried to sell their Ethena Shards on Whales Market, one of the first point trading marketplaces. Lured in by a competitive market price, they excitedly rushed to the Whales app, ready to lock in their profits.

They arrived at the “sell page” when, all of a sudden,… their hopes were shattered. Unbeknownst to them, Whales Market imposes collateral requirements on sellers! They remembered thinking:

“Wait, we have to lock up thousands of dollars just to agree on a price today? and then we have to come back after the airdrop to deliver the airdrop? else our collateral is gone?”

This feels absurd! Why can’t we just sell the points?

Instead of fronting valuable capital, they left the dapp, but decided to jump into the design space of points marketplaces.

While we’re excited about market diversity, and respect the builders in this space, we see a few structural limitations that will prevent the onchain points ecosystem from flourishing:

• Whales & Bubbly requires additional collateral from the seller & caps the maximum payout for point buyers

• Fixed-rate protocols, such as Pendle, Spectra, and Hourglass, don’t allow YT holders to resell earned points. Moreover, their point sellers’ principal is subject to liquidity if they want to withdraw early.

• Pichi & Agent markets aren't designed to trade singular point exposures, limiting user preference and flexibility

We weren’t satisfied with the solutions, so we decided to jump into the action and see where we could contribute. Time to unveil what the team has been building:

Rumpel, the premier point tokenization protocol

Rumpel addresses these constraints allowing users to wrap each earned point into a Rumpel Point Token via a personal Rumpel Wallet, a specialized 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.

Once tokenized and onchain, Point Tokens benefit all stakeholders. Rumpel allows point farmers to sell points, point investors to buy points, and point issuers to continue issuing points with greater transparency around their tangible value.

Moreover, speculative forces in the point token market will give projects a marketing boost, increasing user engagement and core metrics.

Future Possibilities with Rumpel

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.

We are excited to explore these possibilities with our community and partners, paving the way for innovative applications beyond the current scope.

Built & Backed by Industry Leading Builders and Investors

Rumpel Labs is founded by Kenton Prescott & Josh Levine, and they have a team with experience across MakerDAO, Aave, SpaceX, and EY.

We launched Sense Protocol, a DeFi Fixed Income Protocol from 2021-2023, and we’ve grown deeply familiar with pointenomics, strongly believing in its continued role in crypto incentives.

We understand what it takes to build through bears and launch in bulls.

Prominent investors, including Dragonfly, UDHC, Bain Capital Ventures, Variant, Nascent, Robot, Collab currency, LAO, Buckley ventures, Bodhi Ventures, and more back Rumpel. Additional investors include industry builders & figures like Ryan S. Adams, Freddie Farmer, Tom Walton-Pocock , Jai Bhavnani, Noah Zinsmeister, DeFi Dad, Mr. BlockTV, Alan Curtis, Brandon Curtis, Caleb Tebbe, and Mike McKain.

"We're pleased to support Rumpel as they work on enhancing the liquidity and transparency of point programs. Their approach to creating a secondary marketplace for points addresses a clear need in the market, and we believe it has the potential to benefit point holders and issuers alike.” Tom Schmidt General Partner

What’s Next for Rumpel?

• August 26th (NOW): Our public Sherlock Audit contest kicks off, marking our third audit

• Next Week: Release of website, tech docs and info on Rumpel rewards

• Early September: Rumpel Early Access opens, offering select users the opportunity to engage with our platform ahead of the general release.

• Mid-September: Mainnet Launch with partner point Issuers

Early Access and Ethereum L1 Launch

Rumpel Early Access is invite-only, rewarding users with Rumpel Straw, our native point 🌾, in proportion to their usage.

At launch, Rumpel is excited to support Ethena, Symbiotic, Zircuit, and Karak in bringing liquidity to their latest point programs. Early Access users can tokenize points, trade them on Uniswap v3, and earn Rumpel Straw 🌾.

Here’s a quick look at each project:

• Ethena is a synthetic dollar with internet-native yield fully collateralized by crypto assets and offsetting derivative hedge positions.

• Symbiotic is a customizable and immutable shared security protocol designed to help developers innovate faster and safer. Decentralization should not be hard nor optional.

• Zircuit 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.

• And finally, Karak 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.

Upcoming Integrations

While building Rumpel, we’ve been busy spreading awareness among fellow builders and have a couple of integrations lined up. Our first distribution partner to announce is Rainmaker, the airdrop-hunting smart wallet.

Rainmaker supports 10+ point programs, including Ethena, Symbiotic, Zircuit, and Karak, so we’re excited to bring point tokens & airdrop-hunting opportunities to their users.

More details, and alpha, to follow.

How to join the Rumpel Tale

Follow us for important updates on the Rumpel Straw Program and join us on this exciting journey to redefine the future of point tokenization.

• Learn more on our Website (coming soon!).

• Stay up to date by following us on Twitter.