According to CoinDesk, the full-chain ETH perpetual contract agreement Rage Trade announced plans to issue a new token RAGE through a liquidity generation event and a token sale on Fjord Foundry on August 7. The token will be built on the recently released Layer1 blockchain Hyperliquid. 20 million RAGE tokens will be sold on Fjord at a fixed price of $0.3, and another 9 million will be used to inject liquidity into Hyperliquid during the token generation event. In addition, 6 million tokens are reserved for future market making and product incentives.
The total supply of RAGE tokens is 100 million, of which 20% has been allocated to token sales, and 30% will be deposited in the community treasury, subject to a 12-month lockup period and a 24-month linear unlocking plan. Earlier news, Rage Trade released token economics, of which token sales accounted for 35%, community finances accounted for 30%, the team accounted for 15%, private buyers accounted for 13.5%, and airdrops accounted for 6.5%.
