Crypto Knowledge: What is Super Token?
Have you heard anything about SuperFarm? This protocol of inter-network decentralized financing (DeFi) is on the wave of hype now.
It is designed to facilitate the release of new non-interchangeable tokens (NFT) without the need for programming.
Read more about NFT hype here.
In addition, this marketplace and a variety of innovative tools allow any project to distribute a farm on its own terms. The protocol also has its own token, which clearly stands out among other proposals.
In the article, we will talk about this in more detail.
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What is SuperFarm?
SuperFarm (Super) is a cross-chain DeFi platform aimed at simplifying the process of creating non-interchangeable tokens (NFT), allowing them to increase the value of their tokens.
SuperFarm abstracts from the tokenization process with several visual, beginner-friendly tools. They can set up rules for their tokens, define their attributes, stimulate behavior, and much more.
In addition, SuperFarm is easy to use, but it does not compromise quality and efficiency.
Conceptually, SuperFarm is a comprehensive NFT market. It allows users to create their own TAE, raise funds for TAE, create ERC-20 tokens, and connect TAE to video game elements.
Tokens that can be created on the platform comply with the ERC 20 standard. They can sell them in any supported market. Users can even create their own NFT trading platform through this platform if they want.
What is a token?
A token is a digital conditional unit, the value of which is equated to an asset. Information about the issued tokens is stored in a database based on the principles of blockchain. To get a token and perform operations with it, special software and a digital signature are required.
The main types of tokens:
- Security tokens — investment tokens. They are, in essence, a confirmation that the holder of such tokens has the rights of a shareholder, replacing traditional shares. The investment token is issued in exchange for the amount of money deposited in the company and allows participation in receiving dividends. It can also be used as collateral or a means of payment.
- Asset-backed tokens (raw materials). Such tokens are provided with any material benefits that must be provided in return for the token at the request of its owner. Moreover, such benefits are not only oil, gold, and other raw materials, but also ordinary consumer goods. Instead of the product, the token owner can be paid its cost.
- Utility tokens. Their intended purpose is to pay for goods of a certain company. Strictly speaking, they cannot be considered an investment, they allow you to attract additional funds to the company, and the owner of the token is guaranteed to receive any goods.
- NFT (non-fungible tokens) is a non-interchangeable token. Its peculiarity is in those objects for which it is used when placed in the blockchain. These include mainly intellectual property items – music, works of literature, paintings, as well as unique upgrades for games. Such tokens exist in the singular. Information about their issue, the owner is in the blockchain database.
The key advantage of tokens is the freedom of investment activity. You don’t have to worry about government restrictions, currency fluctuations. Transactions with them do not require a bank account, only internet access is required. The purchase of tokens can become a promising investment.
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What is Super token?
The super token is a SuperFarm service token used for management versions, commissions, bids, and NFT.
According to CoinMarketCap, this token ranks 402nd by market capitalization with $63,196,579. In addition, the Super coin, $0.6201, has a 24-hour trading volume of $6,163,990.
Also, on June 14, 2021, the Super coin reached the bottom with $0.2617, and on March 31, 2021, it broke a record with $4.73.
There are currently 101,909,750 Super coins in circulation, and it is stated that the total number of Super coins will be 1,000,000,000.
Super token features
The Super token is SuperFarm’s own service token. It can be used as a medium of exchange or to pay management and transaction fees. Super also provides its holders with access to products and programs available in the SuperFarm gaming ecosystem, video game partners, and NFT releases.
As the platform strives for full decentralization in the future, it is managed by the community. Any decision or proposal to change or modify the platform must be voted on by Super holders. The strength of the vote can be determined by the number of Super tokens you have. The more you hold in Super, the stronger your vote will be.
Other purchases that you can make on the platform also include Super. It can be used to access some important platform features that are only available to Super holders.
Super can also be wagered on NFT rewards. By participating in NFT betting, users can also receive exclusive NFT rewards from partner farms.
Users can also create their farms on the platform. However, this requires a minimum of 100,000 Super tokens. The purpose of the quota is to make sure that there is a low probability of spam, and good quality farms, and to encourage the purchase of a token.
Super holders are also eligible for NFT awards. These are NFTs available in Superverse and partner video games. However, to participate in the NFT reset, users must have the minimum number of Super tokens required.
Super can also be supplied. Users just need to lock their Super in a smart contract so they can earn tokens for it. This remuneration structure comes from the collection of platform commissions, which are also made in Super.
How and where to buy a SUPER coin?
The Super coin can be purchased quickly and safely through Binance, the world’s largest cryptocurrency trading platform in terms of the trading volume.
To buy Super coins, you first need to be a Binance member and then send fiat money. After sending a fiat currency, such as dollars, you can make purchases in the Bitcoin (BTC), BUSD, and Tether (USDT) Super trading pair, where the Super coin is traded.
In addition, by placing a purchase order on Binance not only at market value but also at a lower cost, users can make purchases at the desired price. To do this, just use the “Limit” tab and enter the amount you want to buy and the price you want to buy.
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