Rage Trade, a decentralized exchange aggregator (DEX), made an announcement on June 7th regarding the launch of their new token, RAGE. The token issuance will be done through a liquidity generation event and a token sale hosted at Fjord Foundry on August 7th.
RAGE will be built on the layer 1 blockchain, Hyperliquid. Currently, Rage Trade is responsible for aggregating GMX, Synthetix, Dydx, Aevo, and Hyperliquid.
As part of their plan, they will sell 20 million RAGE tokens at a fixed price of US$0.30 on Fjord. Additionally, nine million tokens will be used to provide liquidity to Hyperliquid during the token generation event. The official announcement also revealed that six million tokens have been reserved for future market creation and product incentives.
The team provided an overview of the token distribution, stating that 35% will be allocated to the token sale, 30% to the community treasury, 15% to the team, 13.5% to private purchasers, and 6.5% to the airdrop. Within the airdrop, 4% is designated for V1 users, 1.25% for V2 users, and 1.25% for Hyperliquid OG spot traders.
“To put it simply: the community must own more than the team and investors from day one. In our case, the community owns 41.5% (Public Sale + Hyperliquidity + Airdrop + Incentives) and the team + investors own 28.5%. The remaining 30% is in our community treasury, governed by token holders,” wrote a team member.
One of the team’s central ideas for the token launch is called Rage Quit. The purpose of this feature is to make it easy for people who want to exit their investment. By utilizing Rage Quit, users can receive 40% upfront and burn the remaining 60% of their tokens. This burning mechanism increases the ownership of other token holders.
It is important to note that the views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.