• Rho’s next generation platform, Rho X is live.
• The platform uniquely offers rates trading across perp funding rates for the top 3 CEX and top 2 DEX markets, yield-bearing stablecoin rates and Ethereum staking rates, all in one venue.
• Rho X is a Hybrid DEX, delivering a professional level experience, with enhanced trading precision, speed, and efficiency.
• Unified collateral management on Rho X enables multi-asset portfolio margining, multiple assets including major stablecoins such as USDT and USDC are supported.
• Rho X is now supported on Ethereum Mainnet for added interoperability and security.

Rho Labs announces the launch of its next generation cryptonative rates venue, to revolutionize 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, 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.

Ermin Sharich, CEO and Co-founder of Aegis commented: “YUSD is the first delta-neutral stablecoin to have yield futures live on Rho X. Users can now secure fixed yield positions for set periods, unlocking predictable returns while maintaining the transparency and capital efficiency that Aegis is built on.”

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.

The new infrastructure provides unmatched performance for crypto rates traders, enabling full and precise control over order size and timing. Execution is near instant and there are no gas fees for trading.

Rho X allows deeper market liquidity to be realized, as market makers can take advantage of this advanced user experience to manage complex trading strategies efficiently and reliably.

Unified Collateral Accounts On Rho-X For Multi-Asset Portfolio Margining

User collateral on Rho-X is unified across all the platform’s products, showing one USD-denominated P&L for efficient, easy management of overall risk and capital. The venue offers the un-matched advantage of being able to use a portfolio of different assets, without having to convert to others first to trade. Currently supporting USDT and USDC, more stablecoins and other digital assets will be added in the near future.

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.

Alex Ryvkin, CEO and Founder of Rho Labs commented; “The Rho X upgrade has ramped up the user experience and functionality so that it may be a truly integral part of professional trading infrastructure, deepening liquidity and igniting the potential for rates trading to have a profound effect on the wider market.”

Sarthak Jain Head of Institutional BD at dYdX  added; “Rho is leading the way in making rates trading a core part of crypto markets, and Rho X takes that mission further. By integrating dYdX markets, Rho adds new depth and flexibility to its platform, giving traders more ways to engage with funding and yield opportunities. The partnership with Rho enablesdYdX traders to hedge their rates exposure on major markets directly on the Rho X platform, providing even greater flexibility and control. We’re excited to see Rho expand what’s possible in this space, and proud that dYdX markets can help fuel that growth.”

Source: Rho