Resolv: Boosting User Acquisition with Points and Referrals

What is Resolv?

Resolv is a protocol maintaining USR, a stablecoin natively backed by Ether (ETH) and pegged to US Dollar.

The protocol's main features include:

- Issuance and redemption of USR against other tokens;

- Maintaining sufficent backing by ETH at all times. This is achieved by hedging ETH price with short perpetual futures positions;

- Maintaining RLP (Resolv Liquidity Pool), a liquid insurance pool designed to keep USR overcollateralized.

Both USR and RLP can be minted and redeemed by users in exchange for collateral deposited on 1:1 basis.

The Challenge

As a new product in a crowded market, Resolv needed a way to quickly attract and retain users for its stablecoin, USR. The team wanted to incentivize actions like liquidity provision, lending, and swapping to help drive early adoption. Additionally, Resolv aimed to integrate with popular DeFi protocols to make the experience more appealing for users already familiar with other platforms.

The Solution

Resolv leveraged on Fuul to set up a customized points and referral program that aligned with their goals.

Conversion Events‍

Fuul enabled Resolv to reward users for specific actions such as liquidity provision, lending, holding, swaps and referrals. These events encouraged users to engage meaningfully with the platform, supporting the growth and adoption of USR.

Payout Rules‍

Resolv designed a payout structure that rewarded users with 10% of the earnings from each person they referred. Additionally, tiers and multipliers were introduced for users who held certain NFTs or were active on partner platforms like Hyperliquid and Dinero.xyz, offering extra rewards and incentives.

Incentives Hub‍

Through Fuul’s Incentives Hub, Resolv integrated its rewards system with other DeFi protocols, including Hyperliquid, Dinero, Morpho, Beefy, and Silo Finance. This allowed Resolv to connect with users from established DeFi communities and make it easier for them to earn rewards through USR.

Results

In just the first month, Resolv’s program showed strong results:

• The number of users holding USR and providing liquidity doubled.
• The referral program drove active participation, bringing in new users who continued to engage.
• Resolv's market cap for USR grew 2x, while their TVL increased 3x, significantly boosting liquidity and the stablecoin’s visibility in the market.

Conclusion

Fuul gave Resolv the tools to launch a straightforward, effective rewards program that helped attract new users and keep them engaged. By offering a well-structured points and referral program, Resolv successfully positioned USR for growth in the DeFi space.