Superseed is the first L2 to use its revenues to enable self-repaying loans at the chain level.
Through Supercollateral, users can unlock liquidity without selling, while protocol fees automatically pay off debt.
Today, we've released a new Deep Dive report on Superseed 👇
Today, DeFi borrowers face 2 key challenges:
1. Users incur interest costs & need to manage repayments & collateral ratios themselves.
2. Value accrued from protocols goes to lenders, token treasuries, etc. (not users)
@Superseed is designed to solve both of these problems.
At the core of the protocol mechanics is the SuperCDP, a native Collateralized Debt Position protocol.
Users can mint the Superseed stablecoin by locking assets, including:
- $SUPR (Superseed native governance token)
- $WBTC
- $ETH
The value of locked collateral must exceed 150% of the stablecoin amount borrowed.
Borrowers who lock $SUPR at a 500% collateralization ratio incur no interest and see their principal automatically amortize over time as protocol earnings flow into CDP vaults.
Superseed’s protocol earnings consist of:
- L2 sequencer fees
- Interest from non-Supercollateral loans
- Proof-of-Repayment revenue
- Native yield staking bridge revenue
Proof of Repayment
Daily auctions allow users to commit stablecoins to repay the loans of borrowers using Supercollateral.
Participants bid to offer the highest amount of stablecoins, with the auction winner earning $SUPR rewards.
At the heart of Superseed is its native token, $SUPR.
By minimizing reliance on VCs, Superseed implements a token distribution system that puts users first, especially those active in the onchain ecosystem.
$SUPR prioritizes public sale participants, with no token lockup post-TGE.
The token has an initial supply of 10B, with 2% annual inflation to come into effect via the PoR mechanism.
If you found this thread informative, our full-length @SuperseedXYZ Deep Dive report explores the chain's architecture and embedded DeFi capabilities, $SUPR tokenomics & more.
Access here 👇
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