Supra Finance: Implementing Low, Medium and High-Risk Investment Systems

Supra Finance addresses the lack of well-defined Decentralized Finance (DeFi) investment platforms on the Binance Smart Chain (BSC) network. Supra Finance offers vaults, an integrated exchange, an algo stable cryptocurrency, and unique farming opportunities.

By
Wilfred Victor
on
April 20, 2021
Category:
BSC News


What is Supra Finance?

Supra Finance is a DeFi investment-focused project built on the BSC network that offers users various investment options from low, medium to high risks.

Supra Vaults — BSC Farming simplified

The platform offers a simplified Vault service in two tiers, Supra Choice, which is properly vetted projects with trusted teams, and degens with high risks. An algorithmic stable coin that contracts and expands its supply to keep the price of the coin pegged to a Dollar and its bank service, which includes SDO(Supra Dollar), SBO(Supra Bond), and SSO(Supra Shares) like its predecessor bDollar.


Key Features

  • Vault Service
  • Algorithmic Stable Coin
  • Bank 


Project Components

The project’s products and services are laser-focused on investments; its core aim is to increase the earning potential of its users. Part of this includes no Swap services as they are seamlessly integrated from other Automated Market Maker (AMM) services like Slime Finance and PancakeSwap Finance.

Exchange: Rather than fork an exchange from PancakeSwap Dex, the platform integrates the service of Slime Finance Dex on its platform. Clicking the exchange service on the Super Finance dashboard, you’re redirected to Slime Finance.

Slime Finance

The platform provides two services; Slime and Pancake Swaps. You can readily purchase SDO, SBO, SSO on this platform without needing a contract address in a straightforward process.

After obtaining any of the three Supra Finance tokens, users can now access all the platform’s different investment products and services.

Supra Vault Service: Vault services automate earnings for users without incurring extra costs like gas. Supra Finance takes care of all automation in the vault contracts to ensure a smooth and safe automated investment process with low maintenance cost.

Supra Vault 

The Vault service automates and compounds earnings for users. For example, unlike regular farming, which requires the user to remove and add LPs manually, vault service takes care of that and adds initial earnings to the old balance in a compounding manner. This results in a seamless and boosted DeFi experience. 

Supra Finance Vaults comes in two choices; the first, Supra Choice, offering low to medium risk with a timelock, no migration code, and/or trusted teams. Degen choice is the second and classified as high risk, coming with a higher potential of rugpulling and may cause loss of funds. Supra charges 4% performance fees and 0.1% withdrawal fees. The performance fees are divided into 2.7% treasury(buyback Supra for Supra single asset vault and partnerships, 0.3% Dev fee, and 1% caller fee(reward for calling compound manually)

Supra Bank: Like its successful predecessor bDollar, Supra Finance also has its bank services which include its boardroom, shares, bond, and Supra BNB(coming soon).

Supra Dollar: An algorithmic stable coin that can adjust its supply deterministically, i.e., if the price is away from the peg, the supply can either expand or contract to ensure that every time the SDO token is pegged to 1 BUSD.

Supra Dollar is a multi-token protocol that consists of three tokens: SDO (the algorithmic stablecoin pegged to a dollar). 

Also they have implemented another token called SBNB pegged to BNB. This will have its own Boardroom in the near future

SDO

Supra Dollar Shares or SSO, which holders can claim SDO inflation when the network expands, i.e., projects mints and distributes SDO to users that stake on the boardroom during this phase.

SSO

Supra Dollar Bonds or SBO, which can be purchased at a 1:1 rate when the network is in contraction and can be redeemed with a premium for SDO, the network returns to its inflationary state, above the $1 peg.

SDO

SUPRA Share Bank

Supra Bank and Shares offer users an attractive APR, especially for stable coin LP pairs. The product incorporates deposit fees to further drive value to SUPRA, ranging between 2-4% for each pair.

The Bond platform allows users to purchase SupraBond (SBO) and the redemption of the stable algorithmic dollar (SDO).

SUPRA Boardroom

A Boardroom where Supra Shares token (SSO) can be staked to claim SDO. 

Please note: In the Boardroom, every deposit & withdrawal of SSO will lock up SDO for six epochs and rewards for three epochs. Likewise, every claim of SDO rewards will lock up SSO for six epochs, and the subsequent claim of SDO rewards can only be made three epochs later.

Detailed information of the Supra Finance Bank operation and its farming vaults and pairs can be found on this Medium post.

Supra Voodoo: The team, in its interest to help rugpull victims make back their lost funds, has initiated the idea of Voodoo degen farming.

Voodoo Pools

Its first candidate is FROG and ZOMBIE, two dead projects that left many users with losses. The idea is simple, stake your rug pulled projects and earn VOODOO which can be readily exchanged on the Swap platform.

The team has provided liquidity for the bag of dead tokens, and you may go ahead to earn different tokens outside VOODOO, such as WBNB, SUPRA, BTCB, Utsupra, and SLME. You can use PancakeSwap or Slime Finance to provide liquidity. More details can be found HERE.

Stake utSupra on Slimeswap

In a bid to expand the earning net of its users, the platform has integrated the UTSUPRA, a token that receives passive yields from the Supra Finance fees. Users can stake Ut-Supra/WBNB at Supra Farms to win even more Ut-Supra.


Tokenomics

SUPRA is a limited token with only 10,000 Total Supply and 1,995 Circulating Supply.

Initial stage: 1000 Supra (10%) were released towards the supra.finance distributor/swap contract, 

Distributed to Sponge Finance: 1000 Supra were distributed on sponge finance. 

Locked Tokens: 8000 tokens were locked in the contract through an internal timelock of 72 hours long.

Token Contract: 0x4ae2f11df681eec979bd93085dd1a05e9593c8c6


Roadmap

Q2

  • SupraDollar 
  • Burn 4,000 Supra from the supply
  • Use 2,000 Supra to use as rewards (SupraFarms and partnerships)
  • (WIP) Stake SUPRA-BNB LP earn SUPRA
  • Grow DEV team from 4 to 5 (3 backends, two frontends)
  • Grow CM team
  • Smart contracts audit
  • More partnerships

Q3

  • Governance module
  • Smart SUPRA buying bot (using rewards from other vaults)
  • More partnerships

Q4

  • Monthly Degen Bundle
  • Cross-chain SUPRA (HECO, Conflux)

Supra Finance Governance is scheduled for Q3 and will give decision-making to the community. The project becomes a community-driven one when this is successfully implemented in the future; further, more partnerships, a cross-chain with Huobi Eco Blockchain (HECO), and Conflux will further expand the scope of Supra as a multichain DeFi investment platform.

You can find the detailed roadmap plan HERE.


In Conclusion

A more focused DeFi investment platform with several earning products and services laced with top-notch security is not what we see every day. Supra Dollar follows the novel mechanics of bDollar and other Algo stable coins that have successfully operated in the BSC network. Throughout all products, Supra Finance has gained an incredible TVL. Integration of other chains, Governance, expansion of its services will provide much more value to its users in the future.

Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.

This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.

To learn more about Supra Finance, check out the following resources and media pages:

Website

Twitter 

Medium

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Wilfred Victor

Ace finds himself as a blockchain enthusiast who is focused on growing with the entire crypto sector. He is an energetic and passionate writer who believes that all things are achievable.