Strips Finance, now RabbitX 🐰

Strips is now RabbitX, a perps DEX on StarkNet: Follow at @rabbitx_io
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[Strips Finance, now RabbitX 🐰 @StripsFinance]

✨ INTRODUCING ✨

🎉 RabbitX Perpetuals Exchange 🎉

Get access to perpetual futures on DeFi with incredible speed, zero gas fees and a great UI.

A truly permissionless exchange where you can access the most liquid markets from anywhere, anytime.

🐰 https://t.co/KyrRKweOpc

[RabbitX 🐇 @rabbitx_io]

learn the nuances of funding rate arbitrage, a highly profitable trading strategy on RabbitX 👇🐇

[RabbitX 🐇 @rabbitx_io]

RabbitX Fiat On-Ramp

RabbitX is always improving the user experience, and we’ve just made the onboarding process easier for millions with our new Fiat On-Ramp feature, powered by Transak One.

RabbitX fiat onramp allows users to deposit onto RabbitX with bank wire, Visa, Mastercard, Sepa, Apple Pay, and Google Pay. You don’t need to have any ETH in your onchain wallet to do so, you go direct from credit card to RabbitX.

Step 1: Click Deposit in the RabbitX UI and input the USDT amount

Your wallet is automatically populated from the one you have connected, you cannot change it manually. If it’s not the wallet you want the funds to be sent to, please connect a different wallet to your browser extension and restart.

Step 2:

Select your payment currency. Once selected, the USDT equivalent amount for that currency will automatically be calculated.
For currency conversions, Transak uses a current market rate without slippage. In our example here, 50 USDT is the equivalent of 66.59 Singapore Dollars (SGD). If you choose USD, you can send it as a wire.
You will see the fee for the service and the total amount to be deducted from your payment method.
If you wish to change your USDT deposit amount, please close the widget and re-input a new USDT amount in Step 1

Step 3:

Provide your email and input the verification code. You’ll receive a notification when the deposit is made to RabbitX and we’ll also send the transaction hash so you can track your onchain deposit.

Step 4:

Transak supports different levels of KYC and requires it to access the Fiat On-Ramp service. You only need to KYC if you're using the fiat onramp service.

Level 1: you only provide your personal information without uploading photo ID
Level 2: provide photo ID

Step 5 (optional, if doing L2 KYC):

Scan your phone to upload photo ID and selfie
You’ll be notified that your information is received and when it’s approved
It typically only takes 3 min for L2 KYC to be approved, in some cases it can take up to 24 hours.

Step 6: Add your credit card information

Step 7: Confirm your wallet address and final amount

You’ll be able to see the fee breakdown for the transfer.

Your total charges and USDT deposit are shown again to confirm accuracy.

Step 8:

You can track your deposit onchain. This shouldn’t take more than 10 minutes, sometimes as little as 1 min.

You’ll receive an email from Transak on how to track your USDT deposit onchain.

Once completed, you'll get a notification from RabbitX and see your successful deposit on RabbitX under the Transfers tab and you can start trading!

Important: users never need to worry about losing money with RabbitX fiat on-ramp. All transactions are tracked and if there is any issue, RabbitX will ensure your funds are credited.

Join us while we work to onboard millions into DeFi and financial freedom.

Trade. Earn. Win.

Back The Bunny 🐇

[RabbitX 🐇 @rabbitx_io]

RabbitX has been decreasing RBX rewards for the Liquidity Bootstrapping Program in addition to recently buying back a large amount of RBX.

RBX incentives will continue to decline, and are slated to end entirely in Feb 2025. Here's the schedule (found in our docs):

[RabbitX 🐇 @rabbitx_io]

NEW LISTING 🐇

Trade $BLAST with up to 20x leverage, now live on RabbitX.

The best trading experience in DeFi (see for yourself, link in comments).

[RabbitX 🐇 @rabbitx_io]

Ladder order types and native swaps now live on RabbitX.

A quick demo of the smooth UI in action:

[RabbitX 🐇 @rabbitx_io]

Some unique new features just released on RabbitX

Multi-collateral trading soon...? 👀

Details:

- Estimated Market Order Execution Price: See the predicted price your market order will likely be filled at. No more guesswork!

- Liquidation Price: Stay on top of your risk with clear visibility of your liquidation price.

- Slippage Risk Warnings: Exceed a pre-set threshold? We'll warn you of potential slippage risk before you confirm, helping you avoid unwanted surprises for your fills.

- 100x the Insight: You can now view up to 100 rows within the order book, providing a more comprehensive picture of buy and sell orders, especially for larger tick sizes.

- Just Press Enter: You can now confirm key actions with just the Enter key, no more mouse clicks needed! Streamline your trading flow and execute trades at lightning speed.

- Mid price button for limit orders: Say goodbye to manual calculations! Our limit order field now features a "Mid" button. With a single click, it automatically populates the order price at the current mid-point between the bid and ask.

There has also been a lot of work going on in the background for our Margin V2 release. Multi-collateral trading in the works friends.

Trade. Earn. Win. RabbitX.

[RabbitX 🐇 @rabbitx_io]

> fastest execution
> deep liquidity
> best UX
> elite aesthetics

peak performance 🐇

[RabbitX 🐇 @rabbitx_io]

The snapshot for locked RBX & LP tokens has been taken and your BFX points are now reflected in the RabbitX UI.

Go to Portfolio -> Earn Points -> and see your earnings here.

Check it out: https://t.co/9rHTRjM2uB

[RabbitX 🐇 @rabbitx_io]

gm

[RabbitX 🐇 @rabbitx_io]

What's this??

More soon 👀🐇

[RabbitX 🐇 @rabbitx_io]

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 🐇

[RabbitX 🐇 @rabbitx_io]

MOG is now live on RabbitX 😹🫵

become uncrustable here ---> https://t.co/z8zegnBo93

miladycore 🐇

[RabbitX 🐇 @rabbitx_io]

Who's going to @consensus2024 in Austin, TX? RabbitX will be there May 28th - June 2nd.

Catch @BackTheBunny and @quetzalcap at the main conference and side events handing out based bunny merch (trucker hats go hard) and discussing all things DeFi. Link up with us via DMs or in our discord.

Trade. Earn. Win. RabbitX. 🐇

[RabbitX 🐇 @rabbitx_io]

AIRDROP REMINDER

You must stake your $RBX for the $BFX airdrop by June 1st! Keep your RBX staked for 2 months to qualify. The 2-month countdown starts the moment you stake.

Stake more = get more.

Do it here: https://t.co/9rHTRjM2uB

[RabbitX 🐇 @rabbitx_io]

check out the podcast/livestream interview with @BackTheBunny on @leviathan_news with @DAdvisoor

covering regulation, the election, the ETF, RabbitX, liquid restaking, political messaging, and more 🐇

[RabbitX 🐇 @rabbitx_io]

RabbitX has been non-stop shipping in the background with new releases that include major UI/UX improvements, bug fixes, and feature releases. Here's a brief recap of these last several weeks:

1. Add liquidation price on chart view

Users were unable to clearly see their liquidation prices of active open positions on the trading view chart. With this change, users are now able to see an orange 'Liq Price' indicator on their charts.

2. Redesigned trading popups/overlays

The following popups/overlays went through a full overhaul to provide consistency and an improved user experience with a more cohesive flow in mind when placing/amending orders.

• Closing positions
• SL/TP
• Amend Orders
• Chart Trading
• Quick Trade / Orderbook Trading
• Cancel Order/All

3. Notification revamp

We felt like our exchange had heaps of redundant notifications that could either be removed and/or replaced by making actions unperformable instead of spamming the user with confusing error messages.

Additionally, the max notification stack has been set to 2 to avoid screen filling up with notifications.

Notifications removed for:
• Placing order
• Cancelling order
• Amending order
• Profile data connection lost/reconnected

4. Option to remove order confirmation popups

Tired of clicking "confirm" every time you change an order? There's good news for those need-for-speed traders! You can now disable confirmation pop-ups. Just check a box, and your trades will be executed immediately, saving you valuable time.

5. Orderbook trading just got a major upgrade

Blaze through orders: Left-click any row for a quick trade window - execute in just 2 clicks!

Set prices in a flash: Right-click a row to instantly set that price in your order panel. No more time wasted typing!

Trade. Earn. Win.

[RabbitX 🐇 @rabbitx_io]

this man gets it. devs will be chained to their desks until the job is done.

higher 🐇

[AC @Azyxbt]

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.