The most liquid, composable, and omnichain ETH perp.
- 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.
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.