The market has long been plagued by insider trading. This is perhaps the lament that every degen who has been rugged by a shitcoin or a waifu coin would utter. Just when they have successfully survived the rug pull and avoided the honey pot, a waterfall event washes them out, causing the market sentiment to FUD.

It is at this moment that the declaration of market salvation by a project named Super.exchange, proclaiming "No LP, No Insider" and "The bear market will be rescued by us!"—like a Super hero, directly addresses the pain point and quickly garners attention in the community. What magic does this Solana-based new asset issuance platform possess?

An Upgraded Version of Pump.fun

Why are meme insider trading, sniper attacks, and rug-pulls so common? According to Super.exchange, a significant part of the problem lies in the fact that "Bonding Curves have been played out," which is one of the core reasons why tokens cannot achieve price discovery, leading to extreme volatility.

To address the early whale control issue, Super.exchange has upgraded the traditional bonding curve to the Infinite Bonding Curve AKA Super Curve, making price increases more gradual. The principle of the Super Curve is not complex; 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—when the car needs to accelerate, it must shift gears. Similarly, to make the token price "accelerate," its underlying liquidity must also "shift gears." The seven "gears" of the Super Curve, while maintaining stable market depth, promote rapid and sustained price growth.

So, what does the Super Curve solve? The traditional bonding curve grows too slowly in the early stages, allowing some buyers to accumulate a large proportion of the token supply. In the later stages, due to the curve growing too quickly, it can lead to liquidity gaps, and without market maker support, continuing trading becomes challenging. However, by utilizing the Super Curve, all price ranges have permanently locked liquidity, mitigating rug pull risks and ensuring sustainable price growth.

Comparison of token growth using Super Curve versus traditional Bonding Curve, image from @_superexchange official account

More specifically, by controlling 80% of the token supply on Pump.fun through a traditional Bonding Curve, it only takes less than $20,000, and the price only increases by 15x. However, on Super, trying to buy 80% of the tokens will increase the price by 40,269x. As a result, it is also difficult to accumulate a large number of chips at a low price in the early stages of the token.

Super Curve's market depth characteristics compared to the traditional model. Image from @_superexchange official account

On Pump.fun, as the market value increases, the depth of the pool rapidly decreases. Super.exchange, by eliminating reliance on liquidity providers, preventing pool draws, ensuring sustainable liquidity, has created a secure and growth-oriented trading environment.

Not only is Super Curve innovative, Super.exchange has also sensitively addressed another headache for everyone from junior p to grandmaster p during the meme frenzy—the uniqueness of the ticker.

Remember the broccoli battle on the BNB Chain half a month ago? A large number of homogeneous tokens were simultaneously issued, appearing on the new coin billboard with the same image and name, triggering an intense PvP showdown. However, trying to search for $SUPER on Super.exchange brings refreshing results. No need to painstakingly check each one for authenticity, each ticker is the unique identity of the token, all in uppercase letters, putting an end to the case sensitivity battle.

Finally, Super.exchange has also created its platform token $SUPER. $SUPER is 100% community-owned, with a deflationary mechanism and a transparent buyback and burn policy. $SUPER has a total supply of 1 billion, launched fairly, with no reserves, no front-running, and no VC allocations. Of the total, 50% of platform fee revenue is used to buy back $SUPER and burn it, executed by a smart contract in 5-minute intervals, with the entire process transparently on-chain. As the platform develops, the buyback scale expands, driving long-term price growth and establishing a community growth flywheel.

How to Play Super.exchange

How to get started with Super.exchange? When a user enters the homepage and links their wallet, they can mainly interact with the following three functions.

How to Create a Token

The "create" option can be seen in the top right corner of the homepage. Clicking on it and entering the token icon, ticker, and name will complete the creation process. If a ticker that is already in use is selected, it will not be possible to issue a token with the same name. The system supports alphanumeric combinations of up to 10 characters. Apart from the ticker, which cannot be changed after creation, other options can be modified through community voting. Based on practical results, creating a token requires approximately a 2.5% fee, slightly more expensive than Pump.fun.

How to Buy Tokens

Super.exchange also distinguishes between internal and external markets. By clicking on "MARKETS" on the homepage, users can see the token boards, where "Markets" represent the external market, and "New Pairs" correspond to the internal market. The market value of each token is calculated using the Super Curve. By clicking on a token icon to enter the purchase page, users can set the amount and slippage tolerance on their own. After purchasing, the acquired assets can be viewed in the "PORTFOLIO" section.

How to Acquire $SUPER

Currently, the official website only lists two ways to acquire $SUPER: through trading and referrals. The higher the performance of the traded token, the more points earned. Inviting friends allows one to receive 25% of the points they earn from trading. 1 point equals the right to purchase 1 SUPER, essentially enabling only actively trading platform users to have the privilege to purchase $SUPER. This benefits early users who genuinely transact on the platform, allowing them to enjoy the rewards instead of whales locking up millions in liquidity in a new DeFi protocol.

Will Super.exchange Become a Meme Superhero?

It seems that Super.exchange has indeed to some extent addressed the pain points of the current meme market: insider trading, low-price accumulation, indistinguishable tickers, and rug pulls after pumping. These issues have made the market full of uncertainty and a crisis of trust, especially after memes have completely degraded into gambling. At this point, Super.exchange, through its unique design and mechanisms, seems to offer a solution to these chaotic situations, at least superficially making the trading environment appear more transparent and fair.

However, looking back at the entire meme coin cycle, the essence of its rise is more of a community-driven cultural phenomenon rather than something that can be fully encompassed by technology or tokenomics alone. While Super.exchange has optimized the trading mechanism, it is hard to deny that the most attractive aspect of a meme coin, to a large extent, comes from the lottery-like features tailored to it by Pump.fun and the wealth multiplication myths of a hundred or a thousandfold.

Related reading: "The Resurrection of Neiro: Trading Platforms Are Becoming the "Referees" of the Meme Market｜100x Retrospective"

The current improvements may help curb some of the speculative behavior, but they also pose the following questions: How can a strong and lasting community consensus be quickly formed without the short-term stimulation of a pump? If the meme's lottery odds are no longer enticing, will it still attract a large number of holders who provide new liquidity by sitting tight? Especially in the current bear market, will memes be cleared from the market as oversupply, or will they continue to span cycles based on their emotional and ideological value? This may be the real key to the future development of memes.

As for Super.exchange, can it, after the market has been pockmarked with holes, filter out memes that truly have consensus and value through a more rational price discovery mechanism? Under the dual drive of innovative mechanisms and a community flywheel, can it become the superhero that saves memes? Perhaps only time will provide the answer.

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