# Super Exchange Super Exchange is an on-chain trading platform that unifies token launches and trading through an infinite bonding curve—eliminating the need for liquidity providers and ensuring unstoppable liquidity at every price. Traditionally: * **CEXs** have gatekept listings and have favoured insiders. * **AMMs** have relied on volatile LPs, leading to frequent rug pulls. * **Pump.fun** style protocols have failed to sustain liquidity, allowing outsized control before launch. Super Exchange fixes this with **the Super Curve**, enabling **fair launches, permanent liquidity, and organic price discovery.** **No rug pulls. No insiders. Just, unstoppable growth.** # Growth Trajectory Buying 80% of the token supply on Pump.fun requires less than $20K but results in only a 15x price increase. The oversupply of low-priced tokens limits exponential growth. In contrast, on Super, buying 80% of the supply drives a 40,269x price increase, enabling rapid yet balanced appreciation. After migrating to Raydium, as market cap increases, market depth declines rapidly, making trading impossible without additional funding from external market makers. Super ensures market depth remains sufficient and stable at all times, preventing liquidity crises and enabling sustainable price discovery.
# $SUPER {% hint style="success" %} Users are given the opportunity to buy early and grow with the project. {% endhint %}
$SUPER is the token of Super Exchange. * **Total Supply**: 1 billion tokens. * **Buyback & Burn**: 50% of trading fees buy and burn $SUPER in real-time. * **Investor Allocation or Team Allocation**: N/A # Superchanics **How It Works** 1 Point grants the right to buy 1 SUPER token. Points are distributed through 5 minute cycles. Every cycle, the amount of points to be distributed is calculated through a formula depicted below. The amount of points distributed per cycle can be expected to decrease over time as SUPER's market cap grows. The points allocation has a 80/20 split. 80% for traders, and 20% for inviters. Trading points are determined by two factors: individual trading volume and the token’s performance. Users that trade tokens with a higher market cap and more unique traders will earn more points earned per trade. ## Formulas **Defining a 5-Minute Interval** $$ \text{Interval Points Cap} = \frac{\text{Remaining SUPER in the Bonding Curve}}{28,800} $$ **Trading Points Formula** $$ \text{Token Parameter} = \text{Market Cap at End of Interval} × \text{Log (1 + Unique Traders in Interval)} $$ $$ \text{Trading Points Earned} = \frac{(\text{Trade Volume} \times \text{Token Parameter})}{\sum (\text{Trade Volume} \times \text{Token Parameter})} \times \text{Interval Points Cap}\times 80% $$ **Invitation Points Formula** $$ \text{Inviter's Points} = \text{Invitee's Trading Points} \times 25% $$ # $SUPER Flywheel
# Whitepaper ## Super Exchange: The Next Evolution in Cryptocurrency Trading ### Abstract Super Exchange represents the next evolution in cryptocurrency trading. It enables fair launches, sustainable liquidity, and unique tickers—achieving all of this without listing barriers or reliance on liquidity providers, effectively addressing the challenges faced by centralized exchanges (CEXs) and automated market makers (AMMs). *** ### 1. Introduction As the cryptocurrency landscape evolves, centralized exchanges (CEX) have become increasingly unfavorable for retail traders. The core issue lies in the oversupply of tokens and the rigid listing requirements that prevent fair early access. Typically, by the time a token is listed on a CEX, a significant portion of its supply has already been acquired at a lower cost by teams and venture capitalists (VCs). Retail investors entering at this stage effectively become exit liquidity for early stakeholders. Automated market makers (AMMs) were introduced to counteract these issues, but their reliance on liquidity providers (LPs) has led to frequent rug pulls and liquidity shortages. Moreover, the rise of memecoins has exposed AMMs’ vulnerabilities—particularly their inability to sustain liquidity for new tokens. Many tokens fail due to insufficient liquidity, while malicious actors withdraw liquidity, leaving traders unable to exit their positions. Pump.fun addressed the fair launch problem through a bonding curve, but it failed to address long-term liquidity needs and had an extremely unbalanced token distribution. With just $20,000, one could acquire up to 80% of a token’s supply before launch, leading to imbalanced distributions and enabling early investors to dump their holdings post-graduation. This perpetuated the issue of retail investors being used as exit liquidity. Super Exchange solves these problems by introducing an on-chain, fully decentralized trading platform built on an infinite bonding curve mechanism. Unlike CEXs and AMMs, Super Exchange eliminates the need for liquidity providers and restrictive listing requirements. It also introduces unique tickers, ensuring each token has a distinct identity and preventing scams involving duplicate tickers. This model guarantees fair launches, transparent pricing, and optimal liquidity at every price point. *** ### 2. The Evolution of Exchanges #### 2.1 Centralized Exchange (CEX) * **Permissioned listing** – Lacks clear, fair, and transparent listing criteria. * **Opaque operations** – Corruption and insider trading favor select investors. * **Retail investors = exit liquidity** – Early investors acquire supply cheaply and sell to latecomers. * **Problem** – Unfair access, no opportunities for early and affordable buys. #### 2.2 Automated Market Maker (AMM) * **Requires liquidity providers** – Must rely on third-party LPs. * **Frequent rug pulls** – Liquidity can be withdrawn at any time, leaving traders trapped. * **Duplicate tokens** – Lack of safeguards allows fake token proliferation. * **Poor liquidity for new tokens** – New launches struggle to gain traction. * **Problem** – Open but risky, LP-dependent, and unreliable for new projects. #### 2.3 Super Exchange (Next-Gen) * **Permissionless listing** – Fair launch for every token. * **No LPs required** – Sustainable liquidity through the Super Curve. * **Unique tickers** – Each token has a distinct identity, preventing duplicates. * **Solution** – A fair, transparent, and sustainable exchange system. *** ### 3. Super Curve The Super Curve is the foundation of Super Exchange, representing a groundbreaking innovation in decentralized trading mechanisms and the financial world as a whole. #### 3.1 Traditional Bonding Curve Since the advent of AMMs like Uniswap, most decentralized exchanges have been built on the **x \* y = k** formula, which has become an industry standard. This curve was originally designed under the assumption that both tokens in a trading pair are already in circulation. As a result, it requires third-party market makers to act as liquidity providers (LPs) by adding their tokens to liquidity pools. With the rise of memecoins and the increasing popularity of fair launches driven by platforms like pump.fun, liquidity challenges have become more apparent. Both pump.fun and its post-listing DEX counterpart, Raydium, still rely on the **x \* y = k** model, which has exposed a fundamental issue: **❌ Unfair token allocation & poor liquidity** For fair launch tokens, the **x \* y = k** model creates highly inefficient price discovery and liquidity issues: * Early growth is too slow, allowing early buyers to accumulate the majority of the supply. * Later growth is too fast, leading to an extreme lack of liquidity, making trading impossible without additional funding from external market makers. #### 3.2 Super Curve To address these limitations, Super Curve introduces an elegant composite curve, seamlessly stitching together seven distinct bonding curves defined by: $$ x^n \cdot y = k $$ where **n** is set at 32, 16, 8, 4, 3, 2, and 1. In this model: * *x* represents the fair launch token * *y* represents the base asset (e.g., SOL) #### 3.3 Why Seven Curves? These curves function like shifting gears in a car transmission. A single bonding curve results in either: * Too slow early growth, preventing adoption. * Too rapid late-stage growth, leading to liquidity shortages. This is a fundamental trait of exponential models. However, for a token to scale from a micro-cap to billions in market cap, it must maintain stable market depth as the price rises. This requires multiple gear shifts along the way. If we compare: * **Price** → Vehicle speed * **Market depth** → Engine RPM The logic becomes clear: * A car shifts gears to maintain a stable engine RPM while increasing speed. * Super Curve "shifts gears" to keep market depth stable while enabling rapid and sustained price growth. *** ### 4. Conclusion Super Exchange marks the next step in the evolution of cryptocurrency trading. With permissionless listings, unique tickers, and unstoppable liquidity, it is designed to power tokens from launch to billions in market capitalization. # Create Super Exchange enables you to create coins visually and efficiently.
#### Creating a Coin Click **"Create"** in the top right corner to access the coin creation page. To create a new coin, you must provide an image, ticker, and name. Additionally, it is recommended to fill in the optional fields, including links to Twitter, Telegram, and the project website.
#### Updating Coin Information All tickers on Super Exchange are **unique and immutable** once created. However, all other coin information can be updated through a proposal voting process.
# Buy & Sell All trades on Super Exchange occur on a groundbreaking bonding curve rather than an AMM.\ The platform’s unique bonding curve guarantees abundant and non-removable liquidity at every price point for all coins created within the platform. #### **Quick Buy on the Homepage** Super Exchange enables users to buy coins quickly in just two steps: 1. Set the Quick Buy amount in SOL. 2. Click the Buy button next to your desired coin. You will then be prompted to confirm the transaction in your wallet. Slippage limits and priority fees will follow either the platform defaults or your most recent custom settings for Quick Buy transactions.
#### **Buy/Sell on the Coin Details Page** On any coin details page, it is recommended to trade coins using the following five steps: 1. Double-check the ticker to ensure this is the exact coin you want to trade. 2. Select whether to buy or sell. 3. Enter the trade amount. * For buys, you can enter the amount in SOL or the coin. * For sells, the amount is entered in coins by default. 4. Check the slippage limit and priority fees; adjust if needed. 5. Click "Place Trade" and approve the transaction in your wallet. Once the transaction is confirmed on-chain, the trade details will appear in the bottom left section of the page. This may take a few seconds to refresh.
#### Configure trading parameters You can customize two parameters: *Slippage limit* and *Priority fees*. Default settings are available if no adjustments are made. * Slippage limit\ Slippage refers to the difference between the quoted price of a trade and the actual price at execution, which often changes due to market fluctuations. To manage this, §uper.exchange allows users to set a slippage limit. If the price moves unfavorably beyond this percentage during the trade, the transaction will be automatically cancelled.
* Priority fee\ On Solana, each transaction incurs a base fee of 0.000005 SOL. As network traffic increases, transactions compete for limited space. To expedite processing, users can pay a Priority fee, which boosts transaction priority and results in faster execution.
# Fees Super Exchange implements a tiered trading fee model based on a token's Market Cap (MC): | Market Cap (MC) | Trading Fee | Denomination | | ----------------- | ----------- | ------------ | | $0 – \~$220K | 1% | SOL | | \~$220K – \~$250M | 0.5% | SOL | | \~$250M – ∞ | 0.1% | SOL | This progressive fee structure ensures fairness and sustainability by adjusting fees as tokens grow in value. Token creation is free. # Media # Super Exchange Super Exchange是一个基于Solana的链上交易平台，通过独创的“超级曲线”（Super Curve）机制，首次将代币发行与交易统一起来，消除了对流动性提供者的依赖，同时确保了在每个价格点都拥有充足且无法移除的流动性。
传统模式的问题： * 中心化交易所（CEXs）把持上币权，并且优先内部人士； * 自动做市商（AMMs）依赖波动性较高的流动性提供者，撤池跑路的现象频繁发生。 * 以Pump.fun为代表的平台未能提供持续的流动性，并在代币成功发射前释放了过大比例的供应量。 Super Exchange通过“超级曲线”彻底解决了这些问题，实现了代币公平发行、充裕且不可撤出的流动性和自然价格发现机制。 不再有撤池子跑路，不再有内部人士优先，只有不可阻挡的增长。 # 曲线增长轨迹 在Pump.fun上购买一个代币80%的供应量仅需不到 2 万美元，且仅能实现 15 倍的价格增长。低价代币的过度供应限制了代币后续的指数增长。相比之下，在 Super Exchange上购买一个代币80%的供应量可以推动该代币实现高达40,269倍的价格增长。 Pump.fun上的代币成功发射到Raydium之后，随着市值的增加，市场深度迅速下降。若无外部流动性提供者添加流动性，几乎无法进行交易。而Super Exchange则可以一直确保市场深度极佳且稳定，杜绝了流动性风险，确保代币可持续的价格发现。
# $SUPER {% hint style="success" %} 用户真正得到早期买入的机会，并与项目一同成长。 {% endhint %}
$SUPER是Super Exchange的平台代币： * 总供应量：10亿枚 * 回购 & 销毁：50%的平台交易手续费**实时**回购并销毁 $SUPER * 投资机构和团队预留：**0** # 积分 ### **机制说明** 1 Point 赋予购买 1 枚 SUPER 代币的权利。 Points 通过 5 分钟周期进行分发。每个周期内，待分发的 Points 数量由下方公式计算。随着 SUPER 的市值增长，每周期分发的 Points 会逐渐减少。 Points 的分配比例为 80/20，其中： * 80% 分配给交易者 * 20% 分配给邀请者 交易积分由**个人交易量**和**代币表现**两个因素决定。 交易市值更高、独立交易者更多的代币，用户每笔交易可获得更多积分。 ### 计算公式 #### 以5分钟为一个区间 $$ \text{Interval Points Cap} = \frac{\text{Remaining SUPER in the Bonding Curve}}{28,800} $$ #### 交易积分公式 $$ \text{Trading Points Earned} = \frac{(\text{Trade Volume} \times \text{Token Parameter})}{\sum (\text{Trade Volume} \times \text{Token Parameter})} \times \text{Interval Points Cap}\times 80% $$ $$ \text{Token Parameter} = \text{Market Cap at End of Interval} × \text{Log (1 + Unique Traders in Interval)} $$ #### 邀请积分公式 $$ \text{Inviter's Points} = \text{Invitee's Trading Points} \times 25% $$ # $SUPER 增长飞轮
# 白皮书 ## Super Exchange：加密货币交易的新篇章 ### 摘要 Super Exchange 代表了加密货币交易的下一次进化。它实现了公平发行、可持续流动性和唯一的 Ticker —— 这一切都无需上币门槛或依赖流动性提供者，从而有效解决了中心化交易所（CEX）和自动做市商（AMM）所面临的挑战。 *** ### 1. 引言 随着加密货币市场的演变，中心化交易所（CEX）对散户交易者变得越来越不友好。核心问题在于上币门槛阻碍了公平的早期进入机会。通常，当一个代币在 CEX 上市时，其很大一部分供应已经被团队和风投机构（VCs）以更低的成本获取。此时进入的散户投资者实际上成为了早期持有者的退出流动性。 自动做市商（AMM）被引入来解决这些问题，但由于其依赖流动性提供者（LP），导致了频繁的撤池子骗局和流动性短缺。此外，Memecoin 的崛起暴露了 AMM 的脆弱性——尤其是它们无法维持新代币的流动性。许多代币由于流动性不足而失败，而恶意行为者则会撤出流动性，导致交易者无法卖出其持仓。 Pump.fun 通过 Bonding Curve 解决了公平发行的问题，但其代币分配极为不均衡，同时未能解决长期流动性需求。仅需 2万美元就可以在上线前获取高达 80% 的代币供应，导致分配严重失衡，使早期投资者在上线后大量抛售，进一步加剧了散户成为退出流动性的现象。 Super Exchange 通过创新的无限 Bonding Curve 机制解决了这些问题。与 CEX 和 AMM 不同，Super Exchange 无需依赖流动性提供者，也没有上币门槛。此外，它还引入了唯一 Ticker 机制，确保每个代币都具有唯一身份，防止重复代币诈骗。这一模式实现了公平发行、透明定价，并在任何价格点都能保持最佳流动性。 *** ### 2. 交易所的演进 #### 2.1 中心化交易所（CEX） * 许可制上币 – 缺乏清晰、公平和透明的上币标准。 * 操作不透明 – 腐败和内幕交易使特定投资者受益。 * 散户 = 退出流动性 – 早期投资者低价获取代币，并在后期卖给散户。 * 问题 – 进入门槛不公平，散户无早期低价买入的机会。 #### 2.2 自动做市商（AMM） * 依赖流动性提供者 – 必须依赖第三方 LP 进行做市。 * 频繁的撤池子 – LP 可随时撤出流动性，导致交易者无法卖出持仓。 * 重复 Ticker 问题 – 缺乏有效防护措施，导致大量假冒代币泛滥。 * 新币流动性差 – 新发的代币难以获得足够的流动性。 * 问题 – 开放但风险高，依赖 LP，对新项目不够可靠。 #### 2.3 Super Exchange（下一代交易所） * 无许可上币 – 所有代币都是公平发行。 * 无需 LP – 通过 Super Curve 机制实现可持续流动性。 * 唯一 Ticker 机制 – 确保每个代币具有唯一身份，防止重复代币诈骗。 * 解决方案 – 构建一个公平、透明、可持续的交易系统。 *** ### 3. Super Curve Super Curve 是 Super Exchange 的核心基础，代表着去中心化交易机制乃至整个金融领域的一项革命性创新。 #### 3.1 传统 Bonding Curve 自从 Uniswap 等 AMM 诞生以来，大多数去中心化交易所（DEX）都基于 x \* y = k 公式运作，这已然成为行业标准。 该曲线的设计前提是交易对中的两种代币已经在市场上流通，因此它需要第三方流动性提供者（LP）通过提供代币来建立流动性池。 随着 Memecoin 的崛起以及 pump.fun 等平台推动的公平发行（Fair Launch）逐渐流行，流动性问题变得愈发明显。 目前，pump.fun 及其上线后的 DEX（如 Raydium）依然依赖 x \* y = k 公式，这暴露了一个核心问题： **❌ 不公平的代币分配 & 流动性不足** 对于公平发行（Fair Launch）的代币，x \* y = k 机制在价格发现和流动性方面存在严重缺陷： * 早期增长过慢，导致早期买家积累了大部分供应。 * 后期增长过快，导致流动性极度缺乏，使得在没有添加流动性的情况下几乎无法进行交易。 #### 3.2 Super Curve 为了解决这些问题，Super Curve 引入了一种创新的复合曲线（Composite Curve），它巧妙地将七条不同的 xⁿ \* y = k 曲线组合在一起： $$ x^n \cdot y = k $$ 其中 n 取值为 32、16、8、4、3、2 和 1。 在这个模型中： * x 代表公平发行的代币 * y 代表基础资产（如 SOL） #### 3.3 为什么使用七条曲线？ 这些曲线的作用类似于汽车变速箱的换挡机制。 单一 Bonding Curve 存在固有问题： * 早期增长过慢，不利于代币启动。 * 后期增长过快，导致市场深度迅速下降，交易难以持续。 但对于一个代币来说，要从微市值（Micro-Cap）增长到数十亿市值，它需要在价格上涨的同时维持稳定的市场深度，这就要求“动态调节”。 如果我们用汽车行驶来类比价格增长： * 价格 → 车速 * 市场深度 → 发动机转速（RPM） 逻辑很清晰： * 汽车通过换挡来保持发动机稳定运转，同时不断加速。 * Super Curve 通过“换挡”来保持市场深度稳定的同时，实现快速和持续的价格增长。 *** ### 4. 结论 Super Exchange 标志着加密货币交易的下一步进化。凭借无许可上币、唯一 Ticker 和不可阻挡的流动性，Super Exchange 旨在助力代币从发行到数十亿级市值的全程增长。 # 创建 您可以在首页顶部菜单中快速创建新代币。
## 创建新代币 有三个必填项，分别是代币的头像、Ticker和代币名称。此外，还有三个选填项，我们也建议您填写（若有），分别是代币的推特账号，电报账号和网站。 请注意，Super Exchange上的所有Ticker都是唯一的，且创建成功后不可修改。
## 更新现有代币的信息 除了代币的唯一Ticker，代币的其它信息均可以通过发起提案，邀请代币持有人投票表决的方式进行修改。
# 交易 ## 在首页快捷买入 您可以在首页仅需2步快速完成代币的买入： 1. 在右上角设置好每次快捷买入操作的购买金额，单位为SOL； 2. 点击想要购买的代币列表最右端的购买按钮，在钱包中直接确认交易即可完成快捷买入操作。
## 在代币详情页面交易 任一代币的详情页面提供更加丰富的信息供您交易参考，我们建议您在进行任何一笔交易前遵从下列5步骤： 1. 仔细确认代币的Ticker，以确保您即将购买的是您想要购买的代币； 2. 明确交易方向，买入或卖出； 3. 填写交易金额，买入时您可以选择买入xx SOL或者买入 xx 代币；卖出时默认为卖出 xx代币； 4. 按需调整滑点上限和优先交易费； 5. 提交交易请求，并在钱包交易弹窗中二次确认交易详情，再批准交易。 \*Super Exchange上的所有交易均为链上交易，根据链上确认速度的快慢，最新的交易信息可能在几秒后才会刷新并出现在交易历史记录中。
## 设置交易参数 \*若无特别需求，您可以使用平台默认的交易参数进行交易，无需对交易参数作任何调整。 \ 同时，Super Exchange也允许您按需调整两项交易参数以确保交易的执行符合您的预期，分别是滑点上限和优先交易费。 * 滑点上限\ 滑点指的是交易报价与执行时实际价格之间的差额，这种差额经常因市场波动而变化。滑点设置较高时易被MEV机器人攻击；滑点设置较低时，若市场波动剧烈，可能会导致交易失败。交易热门代币时建议您适当提高滑点上线以确保交易成功；交易非热门代币时不要忘记把滑点调整到正常水平。
* 优先交易费\ 在 Solana 上，每笔交易的基本费用为 0.000005 SOL。随着链上交易的增加，这些交易会争夺有限的空间。为了加快交易处理速度，您可以支付优先交易费，从而提高交易优先级，加快执行速度。
# 交易费率 Super Exchange根据代币的市值实行一套阶梯费率机制，详情如下： | 代币市值 | 交易费率 | 计费币种 | | ----------------- | ---- | ---- | | $0 – \~$220K | 1% | SOL | | \~$220K – \~$250M | 0.5% | SOL | | \~$250M – ∞ | 0.1% | SOL | 随着代币市值增长实行费率阶梯下降，有利于代币的可持续增长和公平性。 创建新代币是免费的。 # 媒体内容