RabbitX- A decentralized perpetual derivatives exchange

In the world of decentralized exchanges, there are several platforms that end you up in confusion as to which one you should go ahead with. Well, this usually happens when you have multiple options to choose from. One such DEX that I would like to introduce you to is “RabbitX.” This is a decentralized perpetual futures exchange that is built on Starknet. This platform uses the security of the Ethereum blockchain to make sure traders get to enjoy the features of a high-performance platform without having to pay a gas fee.

Apart from that, users on RabbitX enjoy low latency and can also enjoy up to 50x leverage. The platform was launched in 2023 and it aims to provide an environment for trading that is secure, permission-less, and global. This platform comes with support for a wide range of assets including cryptocurrencies, commodities, interest rates, etc.

Key features of the RabbitX platform

Some of the notable features of this platform that you should not miss out on are given below. This will help you understand whether or not this platform is worth all the hype:

• No Gas Fees: This turns out to be one of the most cost-effective platforms in the DeFi Space as it comes with the feature to eliminate gas costs for all the trades.

• High Leverage: If you trade crypto assets through RabbitX, then you can easily access up to 50x leverage which leads to amplified trading positions.

• Advanced Risk Engine: In case you measure the security quotient of the platform, you will get to know that there is a real-time risk engine that can audit each order before it is executed. Meanwhile, this helps ensure the safety and solvency of the exchange. Apart from that, it also adheres to the ACID framework (Atomicity, Isolation, Durability, and Consistency). On this platform, the processing time of an order is less than 0.001 seconds which helps in preventing negative balances.

• Starknet Integration: This platform is built on Starknet. It offers millisecond latency and scalability which comes together with the security of Ethereum alongside the efficiency of Layer-2 solutions.

• Fusion AMM: The platform also introduces Fusion which is also a next-gen Automated Market Maker (AMM). This is empowered by Elixir which has been crafted to provide deep liquidity as well as sustainable yields making it perfect for liquidity providers.

Usage and Access of RabbitX

Here are the key details that you should know about the usage and access of RabbitX. So, check them out before you miss out on an important detail:

• Access to the Global Market: The platform is known for supporting a diverse market. This includes FX, commodities, interest rates, etc. which are available to users 24x7 worldwide.

• User-friendly Interface: RabbitX comes with a beginner-friendly interface that is suitable for both beginners as well as professional traders. Apart from that, it also comes with some advanced charting tools and order types to help you use the platform efficiently.

• Mobile accessibility: The platform is easily accessible via mobile devices which makes sure that traders can manage their positions as and when they want.

A step-by-step guide to using RabbitX

If you’re willing to, you can follow this straightforward guide and get started with this platform in a very easy way:

1. Set up a Starknet Wallet: First of all, you should install a wallet such as Argent X or Braavos (either mobile or browser).

2. Add some ETH to your wallet: Afterwards, you can send some ETH to your wallet on Starknet (for a small fee). If needed, you can use a bridge like StarGate to do so.

3. Connect Your Wallet: Go to the https://rabbitx.com/trade/BTC website and then select the “Connect” option at the top. After that, choose a supported wallet from the available options.

4. Deposit Funds: Following this, you should take the necessary actions to deposit USDC or ETH to your RabbitX wallet to start the trading process.

5. Choose a market: After this, you can choose a trading pair of your choice which could be ETH/USDC or BTC/USDC.

6. Start placing trades: It is time to select your order type (it could be a market or a limit order). You can also choose your leverage (up to 50x) and then choose the Buy or Sell option.

A glance at the RBX Token and its usability  

The RBX token serves a wide range of purposes while being within the RabbitX ecosystem. Here are the usability conditions of the token:

• Staking and rewards: By using and staking the RBX tokens, you can easily earn rewards and take part in the governance of the platform.

• Liquidity mining: This token is used for the purpose of incentivizing liquidity providers which ensures deep order book liquidity.

• Governance: The RBX token holders have the right to vote for protocol upgrades and decisions. This leads to a transparent decentralized governance model.

• Token Distribution model:

  • 5% for community rewards

  • 5% for liquidity mining

  • 20% for the treasury

  • 20% for early investors

  • 15% for the current team

  • 3% for future team members

  • 2% for advisors

Is RabbitX secure?

When we talk about the Security aspect of the platform, we get to know that it prioritizes user transparency as well as security.

• Real-time auditing: Each order is being audited before it can be executed to ensure compliance with the margin. Apart from that, risk requirements are also being measured which ultimately helps in preventing issues before they actually take place.

• Provable transactions: This particular platform also utilizes ZK-STARK technology. This helps in the verification of transaction data which leads to enhanced trust and transparency for anyone using it.

Concluding Thoughts:

When it comes to decentralized derivatives trading, RabbitX is the name that strikes our mind as it comes with security, and efficiency and has a beginner-friendly interface. The platform comes with innovative features, zero gas fees, and strong risk management. In short, it is a perfect decentralized platform for both beginners as well as professional traders to trade derivatives.