News
a new era for DEX tokens
The DEX aggregator Anger Trading is about to issue its RAGE token on the new Layer 1 blockchain Hyperliquid. The token sale is scheduled for August 7, with 20 million tokens out of a total supply of 100 million available on Fjord Foundry at a fixed price of $0.30.
Additionally, the “Rage Quit” feature has been introduced, which allows private investors to get their allocation early by accepting a 60% cut.
RAGE will be among the first tokens to be launched on Hyperliquidmarking a significant moment for this new blockchain. Let’s see all the details below.
DEX News Rage Trade: New RAGE Token Arrives on Hyperliquid
As expected, decentralized exchange (DEX) aggregator Rage Trade has announced the issuance of its new token ANGER. The launch is happening through a liquidity generation event and token sale on Fjord Foundry, scheduled for August 7th.
The token will be launched on the newly launched layer 1 blockchain Hyperliquidwhich has rapidly gained popularity due to its decentralized perpetual exchange.
Rage Trade currently aggregates platforms such as GMX, Synthetix, Dydx, Aevo and Hyperliquid, allowing traders to manage their positions across multiple blockchains and earn incentives.
During the event, 20 million RAGE tokens will be sold at a fixed price of $0.30, while another nine million will be used to inject liquidity into Hyperliquid.
Additionally, six million tokens have been reserved for future market making and product development incentives.
The token will have a total supply of 100 million, with 20% earmarked for sale and 30% for community treasury. The latter is subject to a 12-month lock-up period and a 24-month linear release.
The “Rage Quit” feature introduces a deflationary mechanismThis allows private investors and recipients of the air launch to receive their assignment after an initial three-month stalemate, accepting a 60% cut.
Rage Trade has chosen Hyperliquid as the platform for its token after the network became the preferred choice of users of the Anger Aggregatorwith over 1,300 users generating $445 million in volume.
Hyperliquid surpasses dYdX in TVL
Hyperliquid, the exchange decentralized based on Referee, recently introduced a new points program, which has catalyzed significant growth in total value locked (TVL) on the platform.
According to data from DefiLlama, Hyperliquid has reached a TVL of $530 million, surpassing dYdX’s $484 million and reaching a new all-time high.
This figure places Hyperliquid in second place among derivatives platforms, just behind GMX, which maintains a TVL of $542 million.
Rounding out the top five platforms by TVL are Solana-based Jupiter with $415 million and Drift with $365 million. Hyperliquid had a stellar year in 2024, jumping from eighth to second place in just six weeks.
This rapid increase was largely attributed to the new Hyperliquid points program, which launched on May 29.
The points program provides for the distribution of 700,000 points weekly for four months. With an additional 2 million points awarded for activity between May 1 and May 28.
Despite community criticism over the decision to extend the incentive program and delay the token launch and airdrop, the platform has continued to attract numerous traders.
From Perpetual DEX to Layer 1
Steven, founding member of Capital Yuntwhich has backed some of the largest cryptocurrency firms, including Zerion, noted that Hyperliquid has distributed approximately 51 million points in four periods.
He further stressed that the project aims to reward its early adopters and move from simply being a perpetual DEX to a true Layer 1:
“The team is clearly making an effort to communicate that Hyperliquid is an L1 and not just a DEX for derivatives.”
Furthermore, he highlighted that the token holders PURSUE were significantly rewarded, with a 23% increase in the token’s value.
PURR was the first spot token launched on Hyperliquid and looks set to continue receiving attention and incentives from the platform.