HYPE, the Supreme Finance token, premiered in Coinbene Global on December 22, 2020 for the public. HYPE received positive reviews for its model, direction, performances, features and architecture, although some critics found it indistinctive to other DeFi projects. But impressively, HYPE has reached already an amount of $5.93 all-time-high on February 13th,2021. HYPE token has been already introduced and explained in detail about the token matrix and use-cases on our website and blogs. But, HYPE has yet more to offer.
HYPE creator Supreme Finance discussed ideas for the duology several times before, but it has not been introduced properly. HYPEX, which is intended for governance implementation, will be issued as a separate token with its own standalone consensus algorithm and as ERC20 token, it will be listed when on-chain governance is live.
For fair distribution and incentivizing early LPs and supporters, Supreme Finance has decided to support 1:1 swap for HYPEX to HYPE (HYPEX can only be earned by participating in the initial fair distribution). HYPEX will be available between Boosting set period of time, and only in exchange with HYPE. Further, HYPEX can be exchanged through Supreme Finance Swap Service in Supreme Farm later on. The exchange rate will be determined as a function of the rate of return on HYPE and the participation rate in the staking pool.
With Supreme, 0.25% goes directly to the active LPs of the pool, and 0.05% gets split with a 7:3 split amongst 70% HYPE and 30 % HYPEX holders. HYPEX that is taken out of circulation (or burned) will be calculated from the initial HYPEX supply (i.e., 2.25 million burned out of 22.5 million, 10%). This algorithm will be used to split the 30% allocation of fees into 2 pools depending on the supply in circulation.
Furthermore, some of HYPEX fees will be reallocated to serve 3 other functions in circulation. First, it will be reinjected into existing or newly created rewards pools acting as LP incentives for staking on the platform. Second, it will be routed to a community governance-controlled wallet to serve as an additional treasury for the protocol. Lastly, the remaining will be routed to a dev pool.
Currently, Supreme Finance is working on expanding listing and launching Supreme features. To learn more, visit https://supremefinance.io, follow Supreme Finance on Twitter https://twitter.com/SupremeFinance2 or join our Telegram groupchat https://t.me/SUPREMEFINANCEENGLISH.