diff --git a/ratelimit/rate.go b/ratelimit/rate.go
new file mode 100644
index 0000000..6aebdce
--- /dev/null
+++ b/ratelimit/rate.go
@@ -0,0 +1,36 @@
+package ratelimit
+
+import (
+	"fmt"
+	"strconv"
+	"strings"
+	"time"
+)
+
+// ParseRate parses rate in form of "N/D", e.g "10/1s" or "100/1ms"
+func ParseRate(rate string) (count int, interval time.Duration, err error) {
+	parts := strings.SplitN(rate, "/", 2)
+	if len(parts) != 2 {
+		err = fmt.Errorf("invalid rate format in %q: missing slash", rate)
+		return
+	}
+
+	count, err = strconv.Atoi(parts[0])
+	if err != nil {
+		err = fmt.Errorf("invalid rate format in %q: %v", rate, err)
+		return
+	}
+
+	interval, err = time.ParseDuration(parts[1])
+	if err != nil {
+		err = fmt.Errorf("invalid rate format in %q: %v", rate, err)
+		return
+	}
+
+	if interval < 0 {
+		err = fmt.Errorf("invalid rate format in %q: negative interval", rate)
+		return
+	}
+
+	return
+}
diff --git a/ratelimit/rate_test.go b/ratelimit/rate_test.go
new file mode 100644
index 0000000..297619a
--- /dev/null
+++ b/ratelimit/rate_test.go
@@ -0,0 +1,32 @@
+package ratelimit
+
+import (
+	"testing"
+	"time"
+
+	"github.com/stretchr/testify/require"
+)
+
+func TestParseRate(t *testing.T) {
+	count, dt, err := ParseRate("10/1s")
+	require.NoError(t, err)
+	require.Equal(t, 10, count)
+	require.Equal(t, time.Second, dt)
+
+	count, dt, err = ParseRate("1/1ms")
+	require.NoError(t, err)
+	require.Equal(t, 1, count)
+	require.Equal(t, time.Millisecond, dt)
+}
+
+func TestInvalidRate(t *testing.T) {
+	for _, invalid := range []string{
+		"",
+		"1/2",
+		"/10m",
+		"abc",
+	} {
+		_, _, err := ParseRate(invalid)
+		require.Errorf(t, err, "rate %q is invalid", invalid)
+	}
+}
diff --git a/ratelimit/ratelimit.go b/ratelimit/ratelimit.go
new file mode 100644
index 0000000..9641aa2
--- /dev/null
+++ b/ratelimit/ratelimit.go
@@ -0,0 +1,22 @@
+// +build !solution
+
+package ratelimit
+
+import (
+	"context"
+	"time"
+)
+
+// Limiter is precise rate limiter with context support.
+type Limiter struct {
+}
+
+// NewLimiter returns limiter that throttles rate of successful Acquire() calls
+// to maxSize events at any given interval.
+func NewLimiter(maxCount int, interval time.Duration) *Limiter {
+	panic("not implemented")
+}
+
+func (l *Limiter) Acquire(ctx context.Context) error {
+	panic("not implemented")
+}
diff --git a/ratelimit/ratelimit_test.go b/ratelimit/ratelimit_test.go
new file mode 100644
index 0000000..0095944
--- /dev/null
+++ b/ratelimit/ratelimit_test.go
@@ -0,0 +1,120 @@
+package ratelimit
+
+import (
+	"context"
+	"sync"
+	"testing"
+	"time"
+
+	"github.com/stretchr/testify/require"
+	"golang.org/x/sync/errgroup"
+)
+
+func TestNoRateLimit(t *testing.T) {
+	limit := NewLimiter(1, 0)
+
+	ctx := context.Background()
+
+	require.NoError(t, limit.Acquire(ctx))
+	require.NoError(t, limit.Acquire(ctx))
+}
+
+func TestBlockedRateLimit(t *testing.T) {
+	limit := NewLimiter(0, time.Minute)
+
+	ctx, cancel := context.WithTimeout(context.Background(), time.Millisecond)
+	defer cancel()
+
+	err := limit.Acquire(ctx)
+	require.Equal(t, context.DeadlineExceeded, err)
+}
+
+func TestSimpleLimitCancel(t *testing.T) {
+	limit := NewLimiter(1, time.Minute)
+
+	ctx, cancel := context.WithTimeout(context.Background(), time.Millisecond)
+	defer cancel()
+
+	require.NoError(t, limit.Acquire(ctx))
+
+	err := limit.Acquire(ctx)
+	require.Equal(t, context.DeadlineExceeded, err)
+}
+
+func TestStressBlocking(t *testing.T) {
+	const (
+		N = 100
+		G = 100
+	)
+
+	limit := NewLimiter(N, time.Millisecond*10)
+
+	var eg errgroup.Group
+	for i := 0; i < G; i++ {
+		eg.Go(func() error {
+			for j := 0; j < N; j++ {
+				if err := limit.Acquire(context.Background()); err != nil {
+					return err
+				}
+			}
+
+			return nil
+		})
+	}
+
+	require.NoError(t, eg.Wait())
+}
+
+func TestStressNoBlocking(t *testing.T) {
+	const (
+		N = 100
+		G = 100
+	)
+
+	limit := NewLimiter(N, time.Millisecond*10)
+
+	var eg errgroup.Group
+	for i := 0; i < G; i++ {
+		eg.Go(func() error {
+			for j := 0; j < N; j++ {
+				if err := limit.Acquire(context.Background()); err != nil {
+					return err
+				}
+
+				time.Sleep(time.Millisecond * 11)
+			}
+
+			return nil
+		})
+	}
+
+	require.NoError(t, eg.Wait())
+}
+
+func BenchmarkNoBlocking(b *testing.B) {
+	b.ReportAllocs()
+	b.SetBytes(1)
+
+	limit := NewLimiter(1, 0)
+
+	ctx := context.Background()
+
+	b.RunParallel(func(pb *testing.PB) {
+		for pb.Next() {
+			if err := limit.Acquire(ctx); err != nil {
+				b.Errorf("acquire failed: %v", err)
+			}
+		}
+	})
+}
+
+func BenchmarkReferenceMutex(b *testing.B) {
+	var mu sync.Mutex
+
+	var j int
+	for i := 0; i < b.N; i++ {
+		mu.Lock()
+		j++
+		mu.Unlock()
+	}
+}