The Superseed Foundation has successfully raised nearly $4 million through its ongoing Supersale, set to conclude on January 8, 2025. This sale allocates 20% of the total token supply directly to users, with contribution limits ranging from $250 to $100,000. The funds will support the development of Superchain, a decentralized finance (DeFi) protocol built on OP Stack.
Introducing Supercollateral and Proof-of-Repayment
Superchain introduces two innovative elements to the DeFi space: Supercollateral and Proof-of-Repayment. Supercollateral enables borrowers to access interest-free, self-paying loans, where protocol-generated fees automatically repay the loan over time. This feature allows users to borrow Superseed tokens without incurring additional debt.
How Proof-of-Repayment Works
Proof-of-Repayment operates through daily auctions of newly minted tokens. Users bid with the protocol’s stablecoins, and winning bids directly reduce the debt of Supercollateral borrowers. By linking protocol growth to debt reduction, these two elements create a new model where network activity automatically reduces user debt.
A New Model for DeFi
The combination of Supercollateral and Proof-of-Repayment sets a new standard for DeFi protocols. By providing a systematic framework for automatic loan repayment, Superchain aims to revolutionize the way users interact with decentralized finance.
Source: M.theblockbeats.info
The post Superseed Foundation Raises $4 Million in Ongoing Supersale appeared first on CoinBuzzFeed.