Rage Trade DEX to Launch Token on Hyperliquid in August
Rage Trade (RAGE) will be among the first projects to issue tokens on the new Hyperliquid blockchain.
Rage Trade DEX to Launch Token on Hyperliquid in August
On July 11, the DEX Aggregator platform Rage Trade announced its plan to launch tokens at the beginning of August.
Rage Trade allows users to manage trading positions on various DEXs such as GMX, Synthetix, dYdX, Aevo, and Hyperliquid.
The Rage Trade token, named RAGE, will exist on the newly launched layer-1 blockchain, Hyperliquid. The total supply of RAGE is 100 million tokens, with at least 35% in circulation at the time of the Token Generation Event (TGE).
The token allocation is as follows:
- Community Fund (30%): 12-month lock, gradually unlocked over the next 24 months;
- Development Team (15%): 12-month lock, gradually unlocked over the next 24 months;
- Private Sale (13.5%): 3-month lock, gradually unlocked over the next 15-21 months;
- Public Sale (20%): To be sold on Fjord Foundry on August 7 at $0.3 per token; fully unlocked at TGE;
- Liquidity on Hyperliquid (9%): Fully unlocked at TGE;
- Market Making Fund (6%): Fully unlocked at TGE;
- Airdrop (6.5%): Distributed to Rage V1 users (4%), Rage V2 users (1.25%), and Hyperliquid users (1.25%) - 3-month lock, gradually unlocked over the next 3 months.
Additionally, after the 3-month lock period, airdrop recipients can choose to receive 40% of the airdrop immediately, with the remaining 60% burned, or receive 100% over the standard 3-month period.
Rage Trade chose Hyperliquid as its "home" after it became the blockchain generating the most revenue for the project, with $445 million in trading volume from over 1,300 users.
According to DefiLlama, Hyperliquid currently has a TVL of nearly $600 million, showing rapid growth since its launch earlier this year.
Hyperliquid TVL trends, screenshot from DefiLlama at 8:15 PM on July 12, 2024.
