e. CCoinbase
Users could historically connect a supported wallet, provide collateral, select a perpetual market, and manage positions through the trading interface. Because derivatives and leverage can magnify both gains and losses, traders needed to understand liquidation, margin, funding, and position-size concepts before using such a platform.
Getting Started With a Wallet
When RabbitX was active, wallet connectivity was an important part of the user experience. A compatible self-custodial wallet could be used to interact with the platform and authorize blockchain transactions.
Users should always verify the official website and wallet integration before connecting a wallet to any decentralized application. A familiar brand name does not guarantee that a website is authentic.
Since RabbitX has shut down, users should not connect wallets or send funds to websites claiming to be the current RabbitX exchange. Be particularly cautious of websites offering withdrawals, account recovery, refunds, airdrops, or “reactivation” services in exchange for an upfront payment or wallet credentials.
Understanding Perpetual Trading
Perpetual contracts were a major part of RabbitX's historical offering. Unlike traditional futures contracts, perpetual contracts generally do not have a fixed expiration date. Traders can take long or short positions based on their expectations about an asset's price.
Leverage allows a trader to control a position larger than the amount of collateral deposited. However, leverage also increases the potential impact of adverse price movements. A relatively small market movement can therefore create significant losses or trigger liquidation.
Anyone researching perpetual exchanges should understand leverage, margin requirements, liquidation prices, funding rates, and trading fees before considering this type of product.
Security and Self-Custody
Security was an important consideration for RabbitX users because decentralized applications interact with user-controlled wallets and blockchain transactions. The historical RabbitX mobile-app description stated that users interacted with smart contracts through their own self-custodial wallets rather than RabbitX directly holding the asse