Decentralized Exchange Rage Trade Launches New Token RAGE on Hyperliquid Blockchain

Decentralized Exchange Rage Trade to Launch New Token RAGE

Decentralized exchange (DEX) perpetual aggregator Rage Trade has unveiled plans to introduce a new token called RAGE through a liquidity generation event and a token sale hosted on Fjord Foundry on August 7. The token will be established on the recently-released Hyperliquid blockchain, a layer-1 network that gained significant popularity for its decentralized perpetuals exchange.

RAGE Token Details

• Token Sale: 20 million RAGE tokens will be available at a fixed price of $0.30 on Fjord. An additional nine million tokens will be utilized to seed liquidity on Hyperliquid during the token generation event.
• Use Cases: Rage Trade currently aggregates GMX, Synthetix, Dydx, Aevo, and Hyperliquid, enabling traders to manage their positions across multiple chains and earn incentives on each.
• Total Supply: The RAGE token will have a total supply of 100 million tokens. 20% of the supply has been allocated to the token sale.

Token Distribution

• Community Treasury: 30% of the total supply will be placed in the community treasury, subject to a 12-month cliff and a 24-month linear vesting schedule.
• Deflationary Mechanism: A deflationary feature called “Rage Quit” allows private investors and airdrop recipients to opt-out of the vesting schedule after a three-month cliff, with a 60% haircut applied to the allocation for those choosing to use Rage Quit, thus reducing the overall supply of RAGE tokens.

Hyperliquid Partnership

Rage Trade decided to launch its token on Hyperliquid following the network’s significant traction on Rage’s Perp Aggregator. With over 1,300 users generating $445 million in volume, Hyperliquid emerged as the preferred platform for Rage Trade’s token issuance.

Future Plans

Additionally, six million tokens have been reserved for future market-making activities and product incentives, demonstrating Rage Trade’s commitment to fostering liquidity and enhancing user benefits within the ecosystem.