Superseed Foundation’s ongoing supersale hits $4M, signaling the end of VC reliance

Grand Cayman, Cayman Islands, January 06, 2024

Community-driven “Supersale” encourages broad participation, early access, and innovative Proof-of-Repayment mechanism

The Superseed Foundation has announced its ongoing “Supersale,” an innovative approach to the token distribution event that will run until January 8, 2025, has already raised $4 million without any venture capital allocation. By offering 20% of the total token supply directly to users, the Superseed Foundation introduces a new standard for community-first token launches. As a token of this pivotal moment, participants can claim the exclusive Genesis Seeder Passport, an immutable on-chain record of membership at the dawn of Superseed’s community-driven revolution.

Serving as the Superseed Foundation’s flagship protocol, Superseed is a general-purpose Ethereum Layer 2 built on the OP Stack, designed to transform Ethereum scaling into self-repaying loans. By leveraging a native Collateralized Debt Position (CDP) platform built into the protocol and directing 100% of on-chain profits back to users, Superseed aims to expand Ethereum’s capacity for financial freedom. 

A new era for token launches

Unlike traditional token sales, where a microscopic float and inflated valuations often benefit venture capital firms over everyday participants, Superseed’s Supersale is open to a broad base of supporters. Launched on December 9 and running until January 8, the sale incorporates individual contribution limits ranging from $250 to $100,000. This approach aims to prevent token concentration among a privileged few, aligning with the Foundation’s mission to make DeFi accessible to everyone.

Supercollateral: interest-Free, self-paying loans

Superseed’s innovative Layer-2 solution introduces Supercollateral, a revolutionary concept enabling interest-free loans that repay themselves through protocol-generated fees. These include Proof-of-Repayment proceeds, sequencer revenue, and interest from non-Supercollateral borrowers. As protocol usage grows, borrower debt automatically decreases, inverting the traditional financial model where growth primarily benefits shareholders.

Proof-of-Repayment: converting network growth into debt reduction

Superseed’s innovative approach is fueled by Proof-of-Repayment, a daily auction mechanism with a 2% annual token inflation rate. Participants bid with the protocol’s stablecoin to win newly minted Superseed tokens, and each winning bid reduces the debt of Supercollateral borrowers. This unique economic loop ties protocol expansion to real user benefits: When demand for the token and network activity increases, more debt is repaid.

By connecting token distribution to debt reduction, Proof-of-Repayment solves multiple challenges simultaneously. It is designed to provide a sustainable source of loan repayment, create genuine token utility, and incentivize protocol expansion that directly benefits users rather than enriching early investors or protocol insiders.

Return to DeFi’s core values

Rejecting venture capital funding and embracing transparent tokenomics, the Superseed Foundation aims to return decentralized finance to its core purpose: empowering on-chain individuals. With $4 million already raised, the Supersale showcases community enthusiasm for a DeFi project that places user benefit and broad participation at the forefront.

Users are invited to check the ongoing Supersale on the official website.

About Superseed 

Superseed is the first blockchain that repays your debt. As a general-purpose Ethereum Layer 2, it features a native CDP lending platform enshrined in the protocol. What sets Superseed apart is that 100% of on-chain profits are used to repay the loans of anyone who uses its token as collateral.

Visit the official website at http://superseed.xyz