Rho X Is Launched: Taking Rates Trading to the Heart of Crypto Markets

Today, we are excited to announce the launch of Rho X, the next-generation cryptonative rates marketplace from Rho Labs. This new venue revolutionizes the rates trading experience across multiple markets.

From First Mover Advantage to Best-in-Class Functionality Across Multiple Markets

Since Rho Protocol went live in May 2024, thousands of traders have taken advantage of Rho, the first cryptonative rates market, to hedge, profit from, and manage risk on both funding and staking rates across multiple markets, more than on any other venue of its kind.  
This has amounted to over $23B in cumulative volume traded to-date.

Rho offers funding rates on Binance, Bybit, and OKX, as well as Ethereum staking rates. Recently, Rho added PerpDEX funding rate futures on Hyperliquid and dYdX, marking the first DEX rate integrations on the platform.* And today, as Rho X goes live, we introduce a brand-new market, opening the door to stablecoin yield rates: Aegis YUSD Yield Futures. This product enables users to trade the yield on YUSD directly, with maximum capital efficiency.

Rho X – A Hybrid Rates Trading Infrastructure

In early 2024, Rho pioneered the first virtual Automated Market Maker for crypto rates trading.
Rho X now augments the vAMM with traditional orderbook architecture for a professionalized trading experience.

Some highlights:
- Full control: traders have full and precision control over order size and timing.
- Speed: near instant execution.
- Costs optimized: gas fees are not required for trading on the platform.

This upgrade also supports deeper liquidity, as it enables professional market makers to deploy advanced strategies on a robust, predictable, and impermanent-loss-free orderbook infrastructure.

Now Secured on Ethereum Mainnet

The efficiency, speed and precision of Rho X’s orderbook is combined with Ethereum’s unmatched security and reliability, as user funds are secured on Ethereum Mainnet, thus creating a hybrid solution which is unique to crypto rates trading venues.  

In addition, this architecture lays the foundation for future multi-chain expansion, which would enable seamless deployment to other networks, including Ethereum Layer 2s.

Unified Collateral Accounts

Collateral on Rho X is unified across all products, making collateral deposit and management smoother and more intuitive. The platform currently supports USDT and USDC for most products for a more stable and predictable experience, with more assets to be added in the future. CESR Staking Futures require ETH as collateral.

Cross-Margining

Rho X introduces a professional-grade cross-margining system. Positions within the same market category automatically offset each other, dramatically improving capital efficiency. Traders can deploy multiple strategies while optimizing collateral requirements — a key feature for both risk management and leverage optimization.

Meeting the Demands of Professional Traders

With its unique hybrid trading infrastructure and unified collateral management, Rho X delivers the level of efficiency and transparency that institutional players demand. It makes rates trading not only more efficient for individuals but also a credible, scalable infrastructure for funds, corporates, and professional market makers entering the space.

Ready to trade the future of funding? Try Rho X now!

*All these markets will be live soon on Rho X

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