Strips Finance, now RabbitX 🐰
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@StripsFinance
Strips is now RabbitX, a perps DEX on StarkNet: https://t.co/eA012VzNRl | Follow at @rabbitx_io | Discord: https://t.co/2PcsMhT89w 🐇
Ladder order types and native swaps now live on RabbitX. A quick demo of the smooth UI in action:
Now Live: Ladder Order Types Ladder orders let you target specific price points with surgical precision. This innovative order type lets you build a custom "bid wall" with full control over: - Order Size: Specify the exact amount you want to buy or sell. - Step Size: Define the price difference between each order (percentage or USD). - Size Scale: Choose how to distribute the total order value across each step. - Number of Orders: Set the number of individual limit orders within your ladder. Happy trading. Live on mainnet now 🐇
Here's what RabbitX is targeting in Q2 2024: - More multichain RabbitX, aka RabbitX Omnichain Liquidity - Multicollateral Portfolio Margining: allowing you to use ERC-20 tokens as trading collateral and for vault staking! - Many more perpetuals markets - RBX staking for the @BlastFutures airdrop (more guidance on this very soon) - RBX staking for crosschain airdrops - Unique RBX utility enhancements that directly integrate it into the RabbitX platform We’ve hit some huge milestones and are excited for what’s to come. Trade. Earn. Win. RabbitX
📣RabbitX Staking Dashboard is NOW LIVE! 📣 $RBX hodlers can now Stake $RBX Tokens and earn BFX Points at app.rabbitx.io/portfolio/aird… Thread Below 🧵👇
which DeFi perps platform will win the race to list MOG? @GainsNetwork_io @Kwenta_io @rabbitx_io @GMX_IO @vertex_protocol MOG spot volume is consistently higher than many projects listed Bybit has been doing $20m+ daily volume since listing MOG perps one of the benefits of DeFi should be rapid on-boarding of projects people want to trade
📣RabbitX Staking Dashboard is NOW LIVE! 📣 $RBX hodlers can now Stake $RBX Tokens and earn BFX Points at app.rabbitx.io/portfolio/aird… Thread Below 🧵👇
Markets Up Only, ETH ETF Approved?! - Leviathan Weekly Panel twitter.com/i/broadcasts/1…
A Q1 2024 recap of the RabbitX Grindset 🐇 - Launched liquidity vaults with @elixir - Launched multichain via @BlastFutures on Blast - hit $43M in total TVL - passed $80B trading volume - Airdrop 2 distribution - Launched proprietary DMM liquidity vaults on BFX - Launched 8 new markets (40 total) - Quantower integration - Latency and API optimizations Be on the lookout for more multichain access, many more markets, RBX staking for airdrops, and some unique RBX utility enhancements 🤝 We appreciate you guys 💚
RabbitX Thesis - sleeping giant white labeled perp dex While decentralised perps remain saturated as a sector and tricky to invest in, from a product perspective, orderbooks have clearly demonstrated superiority with lower fees, deeper liquidity, and a better overall UX. The top 7 perp dexes by trading volume all run on an orderbook model (with the exception of Vertex, which runs a hybrid model) @rabbitx_io is a well-funded team adopting the dYdX v3 playbook that trades significantly cheaper to peers at est. ~0.96 FDV/Revenue based on conservative assumptions while traction continues to increase amidst strong competition. 24Q1 was a big quarter for RabbitX despite lagging price action: - Launched market making vaults with Elixer → first pioneered by Hyperliquid and acts as a driver for TVL + deeper liquidity on the books. TVL has 2xed since launch - Launched @BlastFutures, a frontend on blast that routes through the RabbitX orderbook. Blastfutures did $11b volume in April which would rank it at #4 among perp dexes if tracked on Artemis. Upcoming catalysts that could trigger a rerating: - $BFX airdrop for $RBX holders in June not fully priced in. - Fee switch - long hinted by the team to turn on a fee switch for buybacks / rev share for stakers. Though protocol fees are currently unknown assumptions based on dYdX v3 take rate can be made for rough estimates (see comps table below) - Further white labeling the orderbook → following the success of BlastFutures, RabbitX team have prioritised multichain deployment to other chains that continue to drive value back to the RabbitX orderbook and $RBX - $HL Launch from @HyperliquidX could rerate lagging perp tokens - @BackTheBunny is incredibly based Risks - $BFX token launch creates uncertainty around value accrual - although the team has stated all value acrues back to $RBX, there could be community confusion surrounding two tokens that trade via the same order book. Although this is somewhat hedged based on team comments: - Incentive-driven trading - perp dexes are quite PvP and much volume is driven by incentives. $RBX has 7.5% supply for MM incentives and an ongoing airdrop program that rebates traders based on fees paid. Comps RabbitX is a) significantly more capital efficient and b) trading at much lower multiples than majority of its peers (based on a conservative take rate of 0.02%) Base case strategy would be to buy and hold til BFX airdrop while continuously monitoring team clarification on where the two tokens stand in terms of value accrual.
