We’re seeking a Business Analyst with a markets mindset to translate trading and user data into growth actions for Rho X, our rates trading venue. You’ll monitor user behavior and trades in real time, design and evaluate token points/referral programs, and partner closely with Marketing and Product to drive active traders, liquidity, and fee growth—while staying compliant and on-brand.

‍Trading & User Monitoring:

• Track order flow, liquidity depth/spreads, funding/basis, OI, fees,slippage; surface anomalies and opportunities.
• Build daily/weekly dashboards on user cohorts (MMs/partners vs.others), retention, and contribution to volume/fees.
• Write crisp “what/why/so-what” notes when metrics move andpropose actions.Points / Referrals / Incentives
• Design and iterate points, rebates, and referral mechanics withanti-abuse guardrails (sybil, wash-like patterns).
• Model ROI (volume, OI, fees, retention vs. incentive spend) andrecommend parameter tweaks weekly.

Market Intelligence:

• Benchmark competitor incentives, listings, and policy changes;deliver concise GTM notes for the team.

Growth & Experimentation:

• Define metric tree for activation/retention/liquidity flywheel; owninstrumentation specs and dashboards.- Run A/B tests on campaigns, landing pages, fee/priceexperiments; report impact and next steps.

• Experience: 3–6+ years in business/growth/trading analytics (crypto, FX,equities/derivatives, or fintech).
• Technical Knowledge: Strong SQL; good Python/R; spreadsheet fluency; dashboarding(Metabase/Looker/Data Studio).Product analytics (Mixpanel/Amplitude) and experimentation (A/Btesting, cohort analysis, funnel math).‍
• Technical Familiarity: Familiarity with on-chain/market data tools (Dune/Flipside/Nansen)and basic blockchain data structures.‍
• Nice to have: Experience with points/loyalty/referrals (and fraudvectors), market-making or liquidity programs, and risk/complianceexposure for institutional, non-custodial platforms.‍
• Markets literacy: Order books vs. AMMs, spreads/depth, funding/fairbasis, maker/taker dynamics.Excellent, decision-oriented communication; comfortable briefingexecs and enabling self-serve for teams.