Rumpel Labs, a decentralized tokenization platform, has seen a remarkable surge in its total value locked (TVL) since its launch in September. According to DefiLlama, the Ethereum-based application now boasts $46 million in TVL, marking a 760% increase over the past month.

Rumpel facilitates the tokenization of off-chain loyalty points, enabling their trade on decentralized secondary markets. This innovation aims to enhance the dynamics of the points market by allowing price discovery through blockchain tokenization.

The platform supports popular Ethereum projects like Ethena and Symbiotic, with Wrapped eETH (WEETH) comprising the majority of deposits.