Web3 Business Analyst - Trading
Rho is a decentralized crypto-native interest rate derivatives market with a unique product lineup and maximum capital efficiency. It allows users to trade funding rates, hedge risk, and fix staking rewards.
Projects
About Rho Protocol
Rho Protocol is a decentralized, crypto-native interest rate derivatives market designed for maximum capital efficiency. It enables users to trade funding rates from major CEXs and DEXs, hedge funding rate risk, and secure fixed staking rewards. The platform offers unique leveraged interest rate trading opportunities, bringing a large TradFi asset class to Web3. For passive investors, the Rho Liquidity Vault allows users to deposit stablecoins (USDC/USDT) to earn protocol trading fees without active trading. Rho Protocol caters to a diverse user base, including liquidity providers, traders, and service providers who can embed Rho's products into their own offerings. It provides tools for hedging against interest rate fluctuations, capitalizing on rate movements, executing arbitrage strategies, generating income through enhanced yield strategies, and diversifying portfolios. The protocol features a router for write-based interactions, a quoter for calculations and decision-making data, and a ViewDataProvider for retrieving the protocol's state. It is designed to benefit a wide range of users by providing safety, dependability, and various trading mechanisms like an automated market maker (AMM) model and a liquidity vault.
Skills
About the Role
You'll dive deep into trading and user data for Rho X, the company's rates trading venue, translating what you find into concrete growth actions. You'll monitor order flow, liquidity, funding, open interest, fees, and slippage in real time, building dashboards that track user cohorts, retention, and contribution to volume and fees. When metrics move, you'll write clear notes explaining what happened, why, and what to do about it. You'll design and iterate on points, rebates, and referral mechanics, building in anti-abuse guardrails against sybil attacks and wash-like trading patterns, and you'll model the ROI of incentive spend to recommend weekly parameter tweaks. You'll also keep an eye on the competitive landscape, benchmarking competitor incentives, listings, and policy changes into concise go-to-market notes. On the growth side, you'll define the metric tree for activation, retention, and the liquidity flywheel, own instrumentation specs and dashboards, and run A/B tests on campaigns, landing pages, and fee or pricing experiments, reporting back on impact and next steps.
Requirements
- 3–6+ years in business/growth/trading analytics (crypto, FX, equities/derivatives, or fintech)
- Strong SQL; good Python/R; spreadsheet fluency; dashboarding (Metabase/Looker/Data Studio)
- Product analytics (Mixpanel/Amplitude) and experimentation (A/B testing, cohort analysis, funnel math)
- Familiarity with on-chain/market data tools (Dune/Flipside/Nansen) and basic blockchain data structures
- Nice to have: experience with points/loyalty/referrals (and fraud vectors), market-making or liquidity programs, and risk/compliance exposure for institutional, non-custodial platforms
- Markets literacy: order books vs. AMMs, spreads/depth, funding/fair basis, maker/taker dynamics
- Excellent, decision-oriented communication; comfortable briefing execs and enabling self-serve for teams
Responsibilities
- Track order flow, liquidity depth/spreads, funding/basis, OI, fees, and slippage to surface anomalies and opportunities
- Build daily/weekly dashboards on user cohorts, retention, and contribution to volume/fees
- Write concise notes explaining what/why/so-what when metrics move and propose actions
- Design and iterate points, rebates, and referral mechanics with anti-abuse guardrails
- Model ROI of incentive spend and recommend parameter tweaks weekly
- Benchmark competitor incentives, listings, and policy changes and deliver GTM notes
- Define metric tree for activation/retention/liquidity flywheel and own instrumentation specs and dashboards
- Run A/B tests on campaigns, landing pages, and fee/price experiments and report impact and next steps