Announcing Strips Finance $STRP to RabbitX $RBX Migration
We are excited to announce a major milestone in the evolution of the RabbitX platform: the launch of RabbitX (RBX) utility token and the migration of our v1 STRP token to RBX token on Ethereum. This token migration is a crucial step towards achieving our mission of building the most secure and liquid global derivatives network on Starknet.
With the migration to RBX, RabbitX is preparing to assume its leading role in the rapidly growing DeFi derivatives space. Our state-of-the-art platform built using a hybrid architecture, is optimized to deliver unparalleled speed and security for our traders. With the deepest orderbook liquidity, zero gas fees, and up to 20x leverage, RabbitX is the best derivatives DEX to trade on. The RBX utility token launch aligns the success of our platform with our community: if we succeed, you succeed.
STRP ↔ RBX
The migration will take place at a 1:10 ratio, with every 1 STRP tokens being exchanged for 10 RBX tokens. We have ensured that there is no dilution to STRP holders. The migration process is secure and transparent, with detailed instructions provided to ensure a seamless transition for our hodlers.
Key details of the token migration:
- Migration Date: begins April 27th, 2023
- Migration Page: https://app.rabbitx.io/portfolio/migrate
- Contract Address: https://etherscan.io/address/0x3Ba925fdeAe6B46d0BB4d424D829982Cb2F7309e
- Migration Process: To ensure a smooth and secure migration, we have developed an intuitive migration portal on our website https://app.rabbitx.io/portfolio/migrate. Users will be guided through a step-by-step process to swap their STRP tokens for RBX tokens. Please note that you should only use the official RabbitX website to perform the migration.
- Token Swap Ratio: The migration will occur at a 1:10 ratio. For each 1 STRP token you migrate, you will receive 10 RBX tokens.
- Exchanges and Wallets: We are working closely with major exchanges and wallet providers to facilitate the migration process. More information on supported exchanges will be provided in the coming days.
The RBX token will have an initial supply of 1 billion tokens (1,000,000,000 RBX). Here’s how the tokens will be allocated:
- Trading Rewards (32.5%): 325 million RBX tokens will be distributed as community trading rewards and airdrop for trading on the RabbitX platform. These rewards will be given to users based on their trading activity, encouraging more participation and promoting a healthy trading environment.
- Liquidity Mining Rewards (7.5%): 75 million RBX tokens will be dedicated to incentivizing users and market makers to provide liquidity to RabbitX. Deep liquidity is critical to RabbitX’s goal of becoming the premier global derivatives DEX.
- Treasury (20%): 200 million RBX tokens will be set aside in the RabbitX Treasury, providing a reserve for future protocol upgrades, strategic partnerships, and ecosystem development.
- Investors (20%): 200 million RBX tokens will be allocated to our early investors who have supported and believed in our vision from the start. These tokens will be subject to a vesting schedule to ensure a balanced and fair distribution.
- Current team (15%): 150 million RBX tokens will be allocated to the current RabbitX team to acknowledge their hard work, dedication, and ongoing commitment to the platform’s growth and success. These tokens will be subject to vesting, to ensure the team’s long-term alignment with the platform’s objectives.
- Future team members (3%): 30 million RBX tokens will be allocated to future team members. The future of RabbitX relies on our ability to attract the best talent; as we continue to grow, we must align team members’ incentives with the project’s long-term vision. These tokens will also be subject to vesting, ensuring a long-term commitment to the success of RabbitX.
- Advisors (2%): 20 million RBX tokens will be allocated to current and future advisors of the protocol. Advisors play a valuable role in shaping the strategic direction of RabbitX, providing invaluable insights and guidance throughout our journey.
RBX will provide utility and significant value to the RabbitX platform, including increased liquidity and rewards for users. Everything we do is committed to delivering the best possible trading experience and value to our users.
We would like to thank our outstanding community for their support. We deeply appreciate you all as we work towards building the most secure, liquid, and accessible derivatives platform for traders worldwide.
If you have any questions regarding this update or RBX tokenomics, please reach out to our support team in the
#token channel in our discord https://discord.com/invite/rabbitx.