The market has long suffered from insider trading. This is probably a sentiment echoed by every degen who has been harvested by President Coin and Wife Coin. After enduring the struggles of being a retail investor and rug pulls, yesterday's waterfall washout once again stirred up market emotions and FUD.
At this moment, "No LP, no insider." "We will save the bear market!" — a project named Super.exchange has made a market-saving declaration akin to a superhero, quickly capturing the community's attention. What magic does this new asset issuance platform in the Solana ecosystem possess?
Upgraded Pump.fun
Why are meme insider trading incidents frequent, sniper attacks continuous, and pool withdrawals common? According to Super.exchange, a significant part of the problem lies in the fact that "Bonding Curves have been broken" — this is one of the core reasons why tokens fail to achieve price discovery, leading to wild price fluctuations.
To address early control issues, Super.exchange has upgraded the traditional bonding curve to an Infinite Bonding Curve, also known as Super Curve, which allows for a more gradual price increase. The principle of Super Curve is not complex; it can be viewed as a Bonding Curve composed of seven different curves. These seven curves function like the gears of a manual transmission car; to accelerate the car, a gear shift is necessary. Similarly, to "accelerate" the price of a token, its underlying liquidity must also "shift gears." The seven "gears" of Super Curve promote rapid and sustained price growth while maintaining market depth stability.
So what does Super Curve solve? Traditional bonding curves often allow certain buyers to accumulate a large proportion of the token supply due to slow early growth. Later, rapid curve growth can create liquidity gaps, making continued trading difficult without market maker support. However, with Super Curve, all price ranges have permanently locked liquidity, avoiding rug risks and ensuring sustainable price growth.
A comparison of token growth using Super Curve versus traditional Bonding Curve, image from @_superexchange official account.
More specifically, controlling 80% of the token supply through traditional Bonding Curve on Pump.fun requires less than $20,000, resulting in a price increase of only 15 times. In contrast, to acquire 80% of the tokens on Super, the price would rise 40,269 times. This makes it difficult to accumulate a large number of tokens at a low price early on.
Market depth characteristics of Super Curve versus traditional models, image from @_superexchange official account.
On Pump.fun, as market capitalization increases, the depth of the pool rapidly decreases. Super.exchange prevents pool withdrawals by eliminating reliance on liquidity providers, ensuring sustainable liquidity and creating a safe trading environment with growth potential.
Not only is there innovation in Super Curve, but Super.exchange has also keenly addressed another pain point that troubles everyone from small players to big players during meme trading — the uniqueness of tickers.
Do you remember the Broccoli War on the BNB Chain half a month ago? A large number of homogeneous tokens were issued simultaneously, flooding the new coin board with the same images and names, leading to intense PVP. However, searching for $SUPER on Super.exchange yields refreshing results. No more need to check each one for authenticity; each ticker serves as a unique identifier for the token, all in uppercase letters, thus ending the case of case sensitivity.
Finally, Super.exchange has created its own platform token, $SUPER. $SUPER is 100% owned by the community, featuring a deflationary mechanism and a transparent buyback and burn policy. A total supply of 1 billion $SUPER was fairly launched, with no reservations, no front-running, and no VC allocations. Of this, 50% of platform fee revenue is used to buy back $SUPER and burn it, executed by smart contracts every five minutes, with the entire process transparently recorded on-chain. As the platform develops, the scale of buybacks will expand, driving long-term price growth and building a community growth flywheel.
How to Use Super.exchange
How can users get started with Super.exchange? After entering the homepage and linking their wallet, users can interact with the following three main functions.
How to Issue Tokens
In the upper right corner of the homepage, there is a "create" option. By clicking it and entering the token icon, ticker, and name, the creation process can be completed. If the chosen ticker is already in use, a token with the same name cannot be issued, supporting combinations of numbers and letters up to 10 characters. Other options can be modified after community voting, except for the ticker, which cannot be changed once created. Based on practical results, issuing a token requires about a 2.5% fee, slightly higher than Pump.fun.
How to Buy Tokens
Super.exchange also distinguishes between internal and external markets. By clicking "MARKETS" on the homepage, users can see the token board, where "Markets" refers to the external market; "New Pairs" corresponds to the internal market. The market capitalization of each token is calculated using Super Curve. By clicking on the token icon, users can enter the purchase page and set their amount and slippage. Purchased assets can be viewed in "PORTFOLIO."
How to Obtain $SUPER
Currently, the official website provides two ways to obtain $SUPER: trading and referrals. The higher the trading performance of a token, the more points earned; inviting friends allows users to earn 25% of their trading points. 1 point = the right to purchase 1 $SUPER, meaning only active traders on the platform have the right to buy $SUPER, benefiting early users who genuinely use the platform for trading, rather than allowing whales to lock millions in liquidity in new DeFi protocols.
Will it be the Super Hero of Memes?
It seems that Super.exchange has indeed addressed some of the pain points currently plaguing the meme market: insider trading by manipulators, low-price accumulation, difficulty in distinguishing tickers, and rug pulls after price surges. These issues have created uncertainty and a crisis of trust in the market after memes have completely devolved into a casino. In this regard, Super.exchange, through its unique design and mechanisms, appears to offer a solution to these chaotic phenomena, at least on the surface, making the trading environment seem 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 encompassed by technology or token issuance mechanisms. While Super.exchange has optimized the trading mechanism, it is hard to deny that a significant part of the appeal of memes comes from the custom lottery stations and the myth of wealth creation by Pump.fun.
Related Reading: "Neiro Resurrected: Trading Platforms are Becoming the 'National Football Team Referees' of the Meme Market | 100x Review"
Current improvements may curb some speculative behavior, but they also struggle to answer the following questions: How can a strong and lasting community consensus be quickly formed without the short-term stimulus of price surges? If the lottery odds of memes are no longer enticing, will they still attract so many people to sit idly and bring new liquidity? Especially in the current bear market, will memes be cleared by the market as oversupply, or will they continue to transcend cycles with their emotional and ideological value? This may be the true key to the future development of memes.
As for Super.exchange, can it filter out truly consensus-driven and valuable memes through a more reasonable price discovery mechanism after the market has been riddled with wounds? Under the dual drive of innovative mechanisms and community flywheel effects, can it become the Super Hero that saves memes? Perhaps only time will tell.
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