Rage Trade, a decentralised exchange (DEX) perpetual aggregator, has announced the launch of its new token, RAGE, set for August 7. The token will be introduced through a liquidity generation event and a sale on Fjord Foundry. This token will operate on the Hyperliquid blockchain, a recently popular layer-1 network known for its decentralised perpetuals exchange.
Rage Trade aggregates several platforms, including GMX, Synthetix, Dydx, Aevo, and Hyperliquid. It allows traders to manage positions across multiple chains while earning incentives. The token sale will offer 20 million RAGE tokens at $0.30 each on Fjord, with an additional nine million tokens designated for seeding liquidity on Hyperliquid during the event. Another six million tokens are reserved for future market-making and product incentives.
Let’s talk $RAGE Tokenomics
There are 3 big ideas we tried to bake into $RAGE:
1. Community > Team + Investors
2. Rage Quit for vesters
3. Airdrop to CultsCommunity Ownership
To put it simply: the community should own more than team + investors from day 1. In our case the… https://t.co/Hh1GbksQSO pic.twitter.com/yOyXGW3Wbu
— noodles (@crypto_noodles) July 11, 2024
Rage Trade chose Hyperliquid due to its popularity on Rage’s Perp Aggregator, with over 1,300 users generating $445 million in volume. The total supply of RAGE tokens will be 100 million, with 20% allocated for the token sale and 30% for the community treasury, subject to a 12-month cliff and a 24-month linear vesting schedule.
A deflationary mechanism called “Rage Quit” allows private investors and airdrop recipients to bypass the vesting schedule after an initial three-month cliff, although this comes with a 60% reduction in their allocation, effectively reducing the RAGE supply.