SUP Liquidity Mining Debut
SUP is the value capture token of MOV SuperTx protocol (an advanced and improved AMM trading protocol) and an important part of MOV DeFi protocol suite. SUP will have the governance rights of MOV SuperTx. In the future, it can determine the trading fee of the SuperTx protocol, determine the listing token Pair in liquidity pool, detemine the development direction of the SuperTx protocol (community proposal and voting) and so on.
SUP is a meaningful social experiment. Its future is determined by the community and determined by many users who own SUP. Relying on the continuous iteration and upgrade of MOV SuperTx products, SUP will also reflect its huge value.
No pre-mining, no reservation, no private sale
SUP is completely distributed through a decentralized method, starting from block height 72,600,001 of the Bytom sidechain (Vapor), to provide SUP rewards for liquidity providers . The team has no pre-mining, no reservation, and no private sale!
The total amount of SUP is 100,000. Starting from the block height 72,576,000 of the Bytom sidechain(Vapor), SUP rewards are provided for liquidity providers. The weights of each liquidity pool are as follows:
One day after the opening of liquidity mining, SuperTx will launch the SUP/BTM liquidity pool and open SUP trading pair.
Under normal circumstances, SUP is issued for a period of one month, with a linear decrease every week. The specific issuance is shown in the following table:
The issuance will be affected by delayed gratification, which will promote the early end of liquidity mining and SUP issuance. It means it will be less than 4 weeks.
Get immediate or delayed gratification
Users will have two choices for the SUP obtained through liquidity mining: get immediate satisfaction or delay satisfaction.
Get SUP immediately, and trade
Delayed gratification needs to be locked for a certain period using the delayed gratification smart contract, but the SUP to be harvested can many times higher than the current amount ：
Lock the SUP (to be harvested) for 3 months, and harvest 1.5 times the SUP after 3 months
Lock the SUP (to be harvested) for 6 months, and harvest 2.1 times the SUP after 6 months
Lock the SUP (to be harvested) for 12 months, and harvest 3.3 times the SUP after 12 months
Note: You can only have a choice during claim, you can no longer delay gratification after claimed.
Buy back and coin burn of SUP
One week after the liquidity mining starts, 20% of the trade fee of the SuperTx protocol will be used to buy back and coin burn SUP.
The buyback and coinburn is once a week.
Phase 1: Initial distribution
Initially mining in 6 pools including BTC/BTM ，ETH/BTM ，BTC/ETH ，USDT/USDC ，USDT/DAI ，USDC/DAI
Phase 2: Launch SUP/BTM liquidity pool
Launch SUP/BTM liquidity pool, open SUP trading pair.
Phase 3: start the buy back and coin burn of SUP
One week after the start of liquidity mining, 20% of the trading fee of the SuperTx will be used to repurchase and burn SUP; the liquidity provider not only can harvest SUP, but also will share the trading fee in SuperTx.
Phase 4: Post-liquidity mining stage
After the liquidity mining ends(all SUP has been distributed to Liquidity provider), the repurchase and coin burn of SUP will continue, and SUP will enter to deflation stage.
The SuperTx will build a corresponding governance panel and transfer the governance rights to SUP holders. SUP holders can:
- Determine the trading fee rate of the SUP in SuperTx Pool
- Determine the trading fee allocation plan of the SuperTx (such as the distribution of Liquidity provider(LP), and amount of SUP Purchase)
- Determine the development direction of the SuperTx (Community proposal and voting on the protocol upgrade plan)
Bytom Foundation will continue to build the DeFi ecosystem and introduce SUP into more application scenarios.
Bytom Blockchain Protocol (abbreviated simply as Bytom) is an interactive protocol of multiple byte assets. Heterogeneous byte-assets (indigenous digital currency, digital assets) and atomic assets (warrants, securities, dividends, bonds, intelligence information, forecasting information and so forth that exist in the physical world) can be registered, exchanged, and engaged in other more complicated and contract-based interoperations via Bytom. Bytom endeavors to bridge the atomic world and the byte world, promoting the interaction of assets between the two worlds, with the mission of creating diverse assets and a programmable economy.
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