Rage Trade

The most liquid, composable, and omnichain ETH perp.

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Core features

  • ETH perp with 10x leverage
  • Omnichain recycled liquidity
  • Yield generating 80-20 Vaults

Omnichain recycled liquidity

Recycled liquidity allows Rage to re-use ETH+USD liquidity across chains and protocols to LP into ETH perp.

If you LP in:

Then you can recycle your LP shares into Rage using our 80-20 Vaults. This allows users to earn extra yield on their LP shares. And enables Rage to unify liquidity into an omnichain ETH perp.

80-20 Vaults

Each 80-20 vault accepts a different LP position as collateral (for example: Curve Tri-Crypto). The vault recycles these LP shares to provide liquidity in Rage's ETH perp. The goal of the 80-20 vault is to earn additional yield on your LP position while replicating the payoff of an ETH-USD LP in Uniswap v2. The vault maintains the following distribution of assets:

  • 80% of TVL lives in a yield-generating service (Curve, GMX, Sushi etc)
  • 20% of TVL provides concentrated liquidity on Rage Trade

What are the risks of 80-20 vaults

80-20 vaults have no liquidation risk, but face two forms of exogenous risk:

  • Arbitrum Downtime: If the Arbitrum network is down for an extended period of time, the vault payoff may deviate from the expected UNI v2 payoff.
  • Yield Generating Asset Risk: Yield generating assets such as Curve's Tri-Crypto may experience their own impermanent loss which could cause the payoff to deviate from UNI v2. To see the specific risks of a yield generating asset visit the 80-20 Backtests section.

How does Rage's vAMM work

Rage Trade is powered by UNI v3 using a vAMM (Virtual Automated Market Maker) design. The UNI v3 vAMM pool holds virtual tokens (for ex: vETH-vUSDC) that are synthetic representations of underlying tokens in the spot market (i.e. ETH-USDC). Traders and LPs (Liquidity Providers) use virtual tokens to place orders on the vAMM.