Technology in the Blockchain market is always a necessity for projects to operate smoothly, in which Oracles is a technology that helps the participants in the Blockchain world communicate with each other more easily and intuitively. SupraOracles is a pioneering project that directly competes with the giant LINK in the Oracles segment, let's explore this project with Allinstation! However, let's first understand what Oracles are.

What are Oracles?

Blockchain oracles are services that connect smart contracts on the blockchain with data from the real world. Since blockchain is usually a closed system, they must rely on additional infrastructure layers to collect and input data. Most smart contracts require external data to function, such as the current cryptocurrency price for an exchange contract or the outcome of a real-world event for a betting platform.

Oracles on blockchain can be divided into two types: centralized and decentralized. Centralized oracles are managed by a single entity and often rely on a single data source. In contrast, decentralized oracles use multiple independent data sources. This helps ensure the accuracy and speed of the data required for smart contracts.

What are SupraOracles?

SupraOracles is a decentralized oracle solution that supports cross-chain, aiming to optimize decentralized applications (dApps) across blockchain ecosystems through fast, secure, and scalable data solutions. SupraOracles allows near-instant data access between Web2 and Web3.

With the strong development of DeFi, oracle platforms like SupraOracles have become an indispensable part of the blockchain infrastructure, helping to minimize risks and enhance security.

Technology of SupraOracles

The performance of SupraOracles is achieved through the Multi-Helix Ledger (MHL) distributed ledger technology. This technology enables parallel processing, leveraging powerful cryptographic primitives such as threshold cryptography and random sampling.

SupraOracles provides a model for permissioned, private DLTs and public, decentralized chains to communicate with each other, providing trustless data services for enterprises and standardizing data across all off-chain and on-chain sources.

Strengths of SupraOracles

• Fast speed: On-chain data is updated almost instantly with high reliability.
• Decentralization: SupraOracles' oracles are designed to be decentralized at all levels, from data collection from multiple sources to a global node distribution network.
• Enhanced security: SupraOracles is designed with integrated security mechanisms to maximize security assurance.
• Natural integration: Integrates with multiple blockchains such as Arbitrum, Ethereum, Optimism, Polygon.
• Scalability: SupraOracles has a unique consensus algorithm that can handle hundreds of thousands of transactions per second without compromising safety.

Products of SupraOracles

Supra VRF

Supra VRF is a new type of VRF (Verifiable Random Function) developed by SupraOracles, different from Chainlink VRF, to meet the needs of the Web3 market. When a random result is needed in an application, users can easily customize it to ensure randomness and on-chain storage.

Strengths of Supra VRF

• Real-time responsiveness: Ensures smooth and fast responsiveness of user actions.
• Designed for scalability: Ready to scale up to meet the increasing demand as Web3 becomes more widespread.
• Decentralization: Uses secret-sharing algorithms to distribute power across multiple nodes.
• Cross-chain support: Solves on-chain randomness for the entire Web3, supporting over 25 different networks.

IntraLayer

IntraLayer is an integrated framework of oracles, bridges and smart contract platforms developed by SupraOracles. The "hub and spoke" model of IntraLayer allows decentralized applications to communicate seamlessly with all connected chains through a single integration point.

How IntraLayer Works

Developers only need to deploy their Web3 application on SupraOracles and instantly gain the ability to connect to the many chains that SupraOracles has integrated, allowing developers to focus on building Web3 dApps without worrying about data and scalability.

SUPRA Token Information

SUPRA Token Metrics

• Ticker: SUPRA
• Blockchain: Updating
• Total Supply: 10,000,000,000 SUPRA

SUPRA Token Allocation

• Block Reward and Validator: 21%
• Treasury: 17%
• Founder: 16%
• Pre-seed round: 5.18%
• Seed round: 5.37%
• Strategic round: 2.25%
• 3AC/FTX Refund bridge round part 1: 1.84%
• 3AC/FTX Refund bridge round part 2: 1.1%
• Private seed 1 (Alpha testnet): 1.44%
• Private seed 2 (Liquid Staking): 0.88%
• Crowdsales: 3%
• Airdrop: 4%
• Ecosystem Development Fund: 11%
• Legal, Marketing, Admin: 2%
• OTC, Market Making, Listing Strategies: 4.09%
• Exchange Liquidity: 3.85%

SUPRA Token Release Schedule

Updating..

SUPRA Token Utilities

• Staking token: SUPRA tokens can be staked in smart contracts to validate and secure transactions on the network.
• Work token: SUPRA tokens are also used as a tool to participate in providing network services.
• Gas fee token: SUPRA tokens are used to pay gas fees for transactions.
• Subscription token: Token holders can lock SUPRA tokens to reduce service fees on the network.
• Data access token: This token unlocks access to data information.
• Governance token: Ensures decentralized governance is not concentrated in a few hands, based on performance and contribution to the ecosystem.

SupraOracles Development Roadmap

2017

• Established Unity Chain, Inc. Crypto Lab

2020

• Idea for Supra was born

2021

• Raised capital in Pre-Seed/Seed rounds
• Established Supra Labs, Inc. and Swiss Foundation
• Berkeley Blockchain Xcelerator program
• Mastercard Start Path - Cohort 1
• Alpha testnet launch
• Raised capital in Strategic Round
• Mastercard Start Path - Cohort 2

2022

• Dr. Aniket Kate joined as Chief Research Officer
• Completed R&D on DP-PBFT
• Data dashboard launched
• Beta testnet launch with EVM chains and MoveVM
• Raised capital in Private round
• Completed R&D on DORA

2023

• Completed R&D and PoC of HyperNova
• Crowdsales
• Incentive testnet

2024

• Mainnet Oracle Chain
• HyperNova
• SupraOracles operates as a decentralized IntraLayer

The core development team of SupraOracles

• Joshua D. Tobkin: CEO, architect of the Supra BFT Consensus Algorithm, has built SaaS companies over the past 10 years.
• Jon Jones: CBO, co-founder of the Research Lab, focusing on Digital Ledger Technology and Web 3.0 applications.
• Thief Farmstead: CTO, former senior engineer at Sony, blockchain application developer, smart contract developer, and protocol designer.
• Dr. Aniket Kate: CRO of SupraOracles with 15 years of experience working in the blockchain industry.
• Arman Abgaryan: Director of Academic Research on DeFi, with a Master's degree from the University of Cambridge and researching blockchain infrastructure applications.
• Arun Doraiswamy: CTO of SupraOracles with over 23 years of international experience in core engineering.
• Dr. David Yang: CSO of Supra, with over 14 years of research experience in cryptography and security systems.

Investors in the SupraOracles project

SupraOracles has raised over $24 million in funding from Private rounds, attracting investment from various funds such as Animoca, Coinbase Ventures, HashKey, Prosus Ventures, Razer, United Overseas Bank Venture Management, and Valor Equity Partners.

Summary