Decentralized exchange (DEX) aggregator Rage Trade has revealed its plan to issue a new token, RAGE, through a liquidity generation event and token sale hosted on Fjord Foundry, set for August 7.

The RAGE token will be built on the newly-launched Hyperliquid blockchain, a Layer-1 network that gained rapid popularity with its decentralized perpetuals exchange.

Currently, Rage Trade aggregates liquidity from GMX, Synthetix, Dydx, Aevo, and Hyperliquid, allowing traders to manage their positions across multiple chains and earn incentives on each.

A total of 20 million RAGE tokens will be sold at a fixed price of $0.30 on Fjord, with an additional nine million tokens allocated to seed liquidity on Hyperliquid during the token generation event. Another six million tokens are reserved for future market making and product incentives.

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Rage Trade chose to issue its token on Hyperliquid after the network emerged as the most favored platform on Rage’s Perp Aggregator, boasting over 1,300 users and generating $445 million in volume.

The token will have a total supply of 100 million, with 20% allocated to the token sale and 30% placed in the community treasury. The treasury is subject to a 12-month cliff and a 24-month linear vesting schedule.

Additionally, a deflationary mechanism called “Rage Quit” allows private investors and airdrop recipients to bypass the vesting schedule and receive their allocation after an initial three-month cliff, with a 60% haircut applied to those opting for Rage Quit, thus reducing the overall supply of RAGE