Rage Trade, a decentralized exchange (DEX) perpetual aggregator, has revealed its plans to launch a new token, RAGE, through a liquidity generation event and a token sale on Fjord Foundry on August 7. The token will be based on the newly-established Hyperliquid blockchain, a layer-1 network that gained significant popularity with its decentralized perpetuals exchange.
The token sale will involve the offering of 20 million RAGE tokens at a fixed price of $0.30 on Fjord. In addition, nine million tokens will be utilized to provide liquidity on Hyperliquid during the token generation event. Furthermore, six million tokens have been earmarked for future market making and product incentives.
Rage Trade made the decision to launch its token on Hyperliquid following the network’s emergence as the primary platform on Rage’s Perp Aggregator. With more than 1,300 users generating $445 million in volume, Hyperliquid has become a preferred choice for Rage Trade.
The total supply of RAGE tokens will amount to 100 million, with 20% allocated to the token sale and 30% designated for the community treasury. The community treasury holdings will be subject to a 12-month cliff and a 24-month linear vesting schedule.
To provide flexibility for private investors and airdrop recipients, Rage Trade has introduced a deflationary mechanism called “Rage Quit.” This feature enables participants to bypass the vesting schedule and receive their allocation after a three-month cliff. However, opting for Rage Quit will result in a 60% reduction in the allocated tokens, leading to a decrease in the overall supply of RAGE tokens.
Overall, the launch of RAGE on the Hyperliquid blockchain signifies a significant milestone for Rage Trade and demonstrates the platform’s commitment to innovation and growth in the decentralized finance (DeFi) space. With the introduction of this new token, traders will have access to enhanced opportunities for managing their positions across multiple chains and earning rewards in the form of incentives.
In the rapidly evolving landscape of blockchain technology and digital assets, initiatives like the RAGE token launch serve to showcase the potential for decentralized exchanges and layer-1 networks to revolutionize the way in which individuals interact with financial instruments and participate in the broader DeFi ecosystem. As the market continues to mature and expand, innovations such as these are likely to play a crucial role in shaping the future of decentralized finance and driving further adoption of blockchain-based solutions.