Performances
| 1h | 24h | 7d | 30d | 60d | 90d |
|---|---|---|---|---|---|
| 0.09% | 0.05% | 0.70% | 16.11% | 32.66% | 23.87% |
Comparison
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Details
This content is generated by RD AI and is for reference only
RateX is a decentralized yield trading protocol that tokenizes yield-bearing assets (e.g., mSOL, JitoSOL) into Standard Tokens (ST) representing principal and Yield Tokens (YT) representing future yield, and enables leveraged margin trading of YT. Users can amplify gains from yield movements, hedge floating APY, or lock in fixed yield. Liquidity providers deposit yield-bearing assets to mint ST/YT and provide liquidity through a concentrated-liquidity AMM with a time-decay mechanism, earning yield and fees. It also offers fixed-yield and yield-liquidity farming features.
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About RateX
RateX is a leveraged synthetic yield trading exchange on Solana. It splits yield-bearing assets into Principal Tokens (PT) and Yield Tokens (YT), allowing users to trade future yields separately. Core business includes leveraged yield trading (long/short YT with up to 10x leverage), fixed-yield earning via PT, and liquidity provision through an AMM with an order book hybrid design.
Market pain points addressed: In traditional DeFi, users can only passively hold yield assets without tools to hedge or speculate on rate changes. RateX enables direct trading of yield expectations, improving capital efficiency through synthetic minting (no need to deposit underlying assets) and a dual-market structure (AMM + limit order book) for better price discovery.
Core competitiveness: 1) Synthetic issuance allows unlimited YT supply, avoiding liquidity constraints of deposit-based models; 2) Time-decay AMM model with TWAP-based price cages reduces manipulation risks; 3) Integrated liquidation engine with insurance fund and auto-deleveraging for risk control.
Development in the past six months (2026-03 to 2026-09): The protocol launched its RTX token and completed multiple exchange listings. Trading volume grew steadily, with increased adoption of leveraged yield positions. Notable negative events: In March 2026, a large token unlock (28.865% of circulating supply) caused short-term price volatility. Additionally, the protocol faced criticism over reliance on third-party yield sources (e.g., JitoSOL, BNSOL) which carry underlying asset risks such as validator slashing or depeg events. No major hacks or exploits were reported during this period.
RateX completed its seed round with participation from GSR and SNZ Holdings. It later raised $7 million in new funding backed by Animoca Ventures and others. As a Solana-based leveraged synthetic yield protocol, RateX unveiled its token economic model with a 6.66% Q1 airdrop. Binance Alpha launched on RateX on December 19.
Co-founders and core executives of RateX:
Sean Hu (Founder & CEO): Holds an M.S. in Mathematical Finance from the University of Southern California. Previously served as Fund Manager at Wanjia Asset Management and Head of Fixed Income Investment/Portfolio Manager at Haitong Securities, focusing on derivatives. With 13+ years in finance, he founded RateX to build a leveraged yield exchange.
Edmund Xing (Co-founder & CTO): Former Director of Security at HashKey Exchange and Phemex, where he built security frameworks; also worked at CFETS and Sumscope. At RateX, he leads protocol architecture, smart contract security, and liquidity design.
Steve Lin (Co-founder & COO): Former Fixed Income Portfolio Manager at Bank of China Investment Management and Director of Fixed Income at Haitong Securities, with 14 years of fixed income experience. At RateX, he oversees operations, institutional partnerships, and compliance.