Author: Ashley
The market has long been a hotbed for insider trading. This is probably a sigh that every 'degen' who has been harvested by President Coin and Wife Coin will let out. After barely surviving the cabbage patch and rug pool, yesterday's waterfall wash-up has once again caused market sentiment to FUD.
At this very moment, "No LP, no insider trading." "We will save the bear market!" - A project called Super.exchange made a heroic market-saving declaration that struck a nerve and quickly caught the attention of the community. What magic does this new asset issuance platform in the Solana ecosystem possess?
An Upgraded Pump.fun
Why are meme insider trading incidents frequent, sniping constant, and pool withdrawals commonplace? In Super.exchange's view, a large part of the problem is that "Bonding Curves have already been ruined" - this is one of the core reasons why tokens cannot achieve price discovery and experience wild fluctuations.
To address the early control issue, Super.exchange has upgraded the traditional bonding curve into an Infinite Bonding Curve AKA Super Curve, making the price increase more gradual. The principle of the Super Curve is not complicated, and it can be seen as a Bonding Curve composed of 7 different curves. These seven curves are like the gears of a manual transmission car; for the car to accelerate, the gears must be shifted. Similarly, to "accelerate" the price of a token, the underlying liquidity must also "shift gears." The seven "gears" of the Super Curve maintain stable market depth while promoting rapid and sustained price growth.
So what does the Super Curve solve? The traditional bounding curve, due to its slow early growth, allows certain buyers to accumulate a large proportion of the token supply. In the later stage, due to the rapid growth of the curve, it will lead to a liquidity gap, and without the support of market makers, continuing to trade will be very difficult. But by using the Super Curve, there is permanent locked liquidity in all price ranges, avoiding the rug risk and ensuring sustainable price growth.
Comparison of token growth using Super Curve vs. traditional Bonding Curve, image from @_superexchange official account
More specifically, through the traditional Bonding Curve on Pump.fun, controlling 80% of the token supply only requires less than $20,000, and the price only increased 15x. But on Super, to buy 80% of the tokens, the price will increase 40,269x. This makes it much harder to accumulate a large amount of tokens at a low price in the early stages of the token.
Market depth characteristics of Super Curve vs. traditional model, image from @_superexchange official account
On Pump.fun, as the market cap increases, the pool depth quickly decreases. Super.exchange, by eliminating the dependence on liquidity providers, prevents pool withdrawals and ensures sustainable liquidity, creating a secure and growth-potential trading environment.
Not only the innovation of the Super Curve, Super.exchange is also very keen to solve another pain point that has plagued everyone from small-time 'p' to big-time 'p' - the uniqueness of the ticker.
Remember the broccoli war on the BNB Chain a couple of weeks ago? A large number of homogenized tokens were issued, all with the same pictures and names flooding the new token board, and an intense PVP was played out. But trying to search for $SUPER on Super.exchange, the results are refreshingly clear. No more need to check one by one to distinguish the real from the fake, each ticker is the unique identity of the token, and they are all in uppercase English letters, so the case dispute can also be settled.
Finally, Super.exchange has also created its own platform token, $SUPER. $SUPER is 100% owned by the community, with a deflationary mechanism and a transparent buyback and burn policy. $SUPER has a fair start with a total supply of 1 billion, with no pre-allocation, no rush, and no VC quota. 50% of the platform's transaction fee revenue is used to buy back and burn $SUPER, executed by a smart contract in 5-minute intervals, with the entire process transparent on-chain. And as the platform develops, the buyback scale will expand, driving long-term price growth and building a flywheel for community growth.
How to Use Super.exchange
How to get started with Super.exchange? After connecting their wallet to the main page, users can interact with the following three functions.
How to Issue Tokens
The "create" option can be seen in the top right corner of the homepage. After clicking it, enter the token avatar, ticker, and name to complete the creation. If the selected ticker is already taken, it is not possible to issue a token with the same name, and the system supports a combination of up to 10 digits and letters. Except for the ticker, which cannot be changed after creation, the other options can be modified through community voting. Based on the actual operation, token issuance requires about a 2.5% fee, slightly higher than Pump.fun.
How to Buy Tokens
Super.exchange also has an internal and external market. Clicking "MARKETS" on the homepage will show the token board, where "Markets" is the external market, and "New Pairs" is the internal market. The market cap of each token is calculated using the Super Curve. Clicking on the token avatar will take you to the purchase page where you can set the amount and slippage. After purchase, you can view the acquired assets in the "PORTFOLIO".
How to Earn $SUPER
The website currently only provides two ways to obtain $SUPER: trading and referrals. The higher the trading performance of a token, the more points you can earn; inviting friends will also earn you 25% of their trading points. 1 point = the right to buy 1 SUPER, which means that only active traders on the platform have the right to buy $SUPER, benefiting the early users who actually use the platform for trading, rather than whales locking millions of liquidity in a new DeFi protocol.
Will it be the Super hero of meme?
At this point, Super.exchange does seem to have solved to some extent the pain points plaguing the current meme market: insider trading, low-price accumulation, ticker confusion, and rug pulls after pump. These problems have turned the meme market into a complete casino, filled with uncertainty and a crisis of trust. In this regard, Super.exchange, through its unique design and mechanisms, appears to provide a solution to these chaos, at least on the surface, making the trading environment more transparent and fair.
However, if we look back at the entire meme super-cycle, its rise is more of a community-driven cultural phenomenon, rather than something that can be fully covered by technology or token issuance mechanisms. While Super.exchange has optimized the trading mechanism, it is hard to deny that a large part of the appeal of meme comes from the lottery-like payouts and the myth of becoming a millionaire that Pump.fun has tailored for it.
The current improvements may curb some speculative behavior, but it is also hard to answer the following questions: How to quickly build a strong and lasting community consensus without the short-term stimulation of pump-and-dump? If the meme's lottery-like payouts are no longer enticing, will it still attract so many people to sit and wait, bringing new liquidity? Especially in the current bear market, will meme be cleared out by the market as oversupply, or will it continue to cross cycles with its emotional and ideological value? This may be the real key to the future development of meme.
As for Super.exchange, can it, through a more reasonable price discovery mechanism, screen out the meme that truly has consensus and value in the market's patchwork? Under the dual drive of innovative mechanisms and community flywheel, can it become the Super hero that saves the meme? Perhaps only time can provide the answer.
