Rage Trade, a perpetual DEX aggregator, will hold a token sale and liquidity creation event on August 7 to launch its new token called RAGE.
The Hyperliquid blockchain, a layer-1 network that gained prominence initially for its decentralized perpetual trade, will serve as the foundation for the currency. The Hyperliquid blockchain was just released.
Currently, Rage Trade combines Hyperliquid, GMX, Synthetix, Dydx, and Aevo. It is intended to enable traders to control their positions across several chains and receive rewards on each.
Nine million more RAGE tokens will be utilized to seed liquidity on Hyperliquid during the token production event, and 20 million tokens will be sold on Fjord at a set price of $0.30. Additionally, six million tokens have been reserved for potential product incentives and market development.
With over 1,300 users generating $445 million in volume, the network became the most famous avenue on Rage’s Perp Aggregator, leading Rage Trade to decide to release its token on Hyperliquid.
There will be a 100 million token supply; of that, 20% will go toward the token sale, and 30% will go toward the community treasury. The token will have a 24-month linear vesting schedule and a 12-month cliff.
A deflationary mechanism called “Rage Quit” enables airdrop recipients and private investors to forego the vesting schedule and receive their allotment upon completing an initial three-month cliff. Those who choose to employ Rage Quit will incur a 60% haircut, reducing the RAGE supply.
