Token Sale Mechanism
Rage Trade is launching the first of its kind Token Sale + Liquidity Generation Event for $RAGE on Hyperliquid L1
The launch is divided into two phases:
- Public Sale on Fjord Foundry
- TGE on Hyperliquid L1
Rage Trade will be conducting a public sale at a fixed price on Fjord Foundry on Jul 31st, 2024.
On August 7th (12pm UTC), $RAGE will be listed on Hyperliquid’s spot market, with Hyperliquid serving as the homebase for the $RAGE’s liquidity.
We’ll be using Hyperliquidity which will permanently commit liquidity into the spot orderbook for $RAGE.
- Launch Date: July 31st, 2024
- Public Sale Price: $0.30
- Market Cap: $10.50M ($30M FDV)
- Total Supply: 100,000,000 $RAGE
- Circulating Supply: 35,000,000 $RAGE (35% of total supply) allocated with the following distribution:
- Public Sale on Fjord Foundry: 20% of total supply (20M $RAGE)
- TGE on Hyperliquid L1: Up to 10% of total supply (10M $RAGE) seeded into Hyperliquidity
- Market Making / Product Incentives: 5% of total supply (5M $RAGE)
- Token Vesting: All of the tokens will be unlocked at TGE for Public Sale participants
Note: Community owns more than private purchasers+team from Day 1.
- 35% Public Sale + TGE + MM / Product Incentives (no cliff, no vesting)
- 6.5% Airdrop (3-month cliff + 3-month linear vesting)
- 13.5% Private Purchasers (3-month cliff + 15-21 month linear vesting)
- 15% Team (12-month cliff + 24-month linear vesting)
- 30% Treasury (12-month cliff + 24-month linear vesting)
This ensures no additional token supply for at least 3 months beyond the initial 35% allocated to the token sale, enabling secondary market buyers to participate without extra sell pressure and potentially earn Hyperliquid points during the L1 season.
- Date: July 31, 2024
- Allocation: 20% of total token supply (20,000,000 $RAGE)
- Price: $0.30 (Fixed Price Sale)
- Duration: 7 days
- More Details:
- Part of the funds raised from the public sale will be earmarked for liquidity provision activities.
- These funds will initially seed USDC in hyperliquidity after the sale.
- Any remaining funds or unsold tokens will solely be used for future market-making to support liquidity.
- Date: August 7, 2024 (12pm UTC)
- Allocation: 10% of $RAGE + portion of the funds raised.
- Allocation: 5% of total token supply (5,000,000 $RAGE)
- More Details: Earmarked for future market-making or community incentives
- $10,500,000 at the public sale price ($0.30)
The Rage Team is offering the token at a low FDV and high float to set precedent for a community oriented TGE (similar to old-school token sales). Given the fact that Hyperliquid is itself a community first L1, it's an ideal platform for such a TGE.
