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. Ongoing interest costs & the need to manage repayments & collateral ratios.
2. Value generated by borrowers goes to lenders, token treasuries, etc.
@SuperseedXYZ looks to provide a solution to both of these problems within DeFi.
At the core of the protocol mechanics is the SuperCDP, a native Collateralized Debt Position protocol.
Users can mint the overcollateralized Superseed Stablecoin by locking assets, including:
- $SUPR (Superseed governance token)
- $ETH
- $WBTC
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 & see their principal automatically amortize over time as protocol earnings flow into their 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 who utilize Supercollateral.
Participants compete to offer the highest amount of stablecoins, with the auction winner gaining rewards.
At the heart of Superseed is its native token, $SUPR.
By minimizing reliance on VCs, Superseed is able to implement a token distribution system that puts users first, especially those actively engaged in the onchain ecosystem.
$SUPR prioritizes public $SUPR sale participants, with no token lockup post TGE.
$SUPR has an initial supply of 10B, with an annual inflation allotment of 2% through the Proof-of-Repayment mechanism to come into effect through the PoR mechanism.
If you found this thread informative, our full @SuperseedXYZ Deep Dive report explores the chain's architecture, $SUPR tokenomics, & more.
Access here 👇
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