Rage Trade Introduces RAGE Token on Hyperliquid
Are you ready for the latest news in the world of decentralized exchanges (DEX) and blockchain tokens? Let’s dive into the exciting launch of the new RAGE token by Rage Trade on the Hyperliquid blockchain. Here’s everything you need to know about this upcoming event.
The Launch of RAGE Token on Hyperliquid
- Rage Trade announces the issuance of its new token, RAGE, through a liquidity generation event and token sale on Fjord Foundry.
- RAGE will be launched on the Hyperliquid blockchain, known for its decentralized perpetual exchange.
- Rage Trade aggregates platforms like GMX, Synthetix, Dydx, Aevo, and Hyperliquid, offering traders the ability to manage positions across different blockchains.
RAGE Token Details
- 20 million RAGE tokens will be available for sale at a fixed price of $0.30 during the token sale.
- An additional nine million tokens will be used to seed liquidity on Hyperliquid, with six million reserved for future market-making incentives and product development.
- The total supply of RAGE tokens is set at 100 million, allocating 20% for sale and 30% to the community treasury with a lock-up period and release schedule.
Rage Quit Function and Token Allocation
- The “Rage Quit” function introduces a deflationary mechanism allowing private investors and airdrop recipients to receive their allocation after an initial cliff, accepting a 60% reduction.
- Rage Trade has chosen Hyperliquid for its token launch, following the platform’s popularity among users of the Perp Aggregator di Rage.
Hyperliquid Achievements in TVL
Switching gears to the exciting developments on the Hyperliquid platform, let’s explore its recent achievements in Total Value Locked (TVL) and its rise to prominence in the derivative platform rankings.
Hyperliquid TVL Surpasses dYdX
- Hyperliquid, based on Arbitrum, recently introduced a points program that propelled its TVL to $530 million, surpassing dYdX and reaching a new all-time high.
- The platform now ranks second in TVL among derivative platforms, following GMX, with a TVL of $542 million.
- The Hyperliquid points program, offering the distribution of 700,000 points weekly, played a significant role in driving user engagement and platform growth.
Hyperliquid’s Transition to Layer 1
- Yunt Capital’s founding member highlighted Hyperliquid’s transition from a perpetual DEX to a true Layer 1 blockchain, emphasizing the platform’s efforts to reward early adopters.
- The token PURR, the first spot token on Hyperliquid, has seen a 23% increase in value, signaling potential for continued growth and incentives on the platform.
Hot Take: Exciting Opportunities Ahead
Get ready for the launch of the RAGE token on Hyperliquid, offering trading opportunities and incentives for users. Stay tuned for more updates on the evolving DeFi landscape and the novel solutions introduced by platforms like Hyperliquid in the crypto space.
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