“Bridging the gap between Crypto Muggles and Degen Wizards”

“Decentralized finance (commonly referred to as DeFi) is an experimental form of finance that does not rely on central financial intermediaries such as brokerages, exchanges, or banks, and instead utilizes smart contracts on blockchains, the most common being Ethereum. DeFi platforms allow people to lend or borrow funds from others, speculate on price movements on a range of assets using derivatives, trade cryptocurrencies, insure against risks, and earn interest in a savings-like account.”

-Wikipedia

Decentralized finance, better known as “DeFi,” was first released as a product implementation in 2015 by MakerDao and has since then grown into what many have called the “next phase” in the evolution of digital assets and blockchain technology.

Although the big picture and proof of concept projects didn’t really start to form until mid-2020 (and most would agree that DeFi is still in its infancy stages), DeFi has grown into its market independence — within the realms of the greater crypto industry. With a staggering market cap of $19 billion (approx. a 500%+ increase in market cap over the last six months alone), DeFi has quickly cemented itself as one of the next-generation implementations of blockchain technology within finance. DeFi is still far from the final form and very much experimental; however, with projects like YFI, Compound, Uniswap, MakerDao, Synthetix, UMA protocol, Curve, AAVE, and Balancer leading the curve towards the innovation of the bleeding-est edge of crypto, we are excited to see how DeFi evolves and matures.

New Tech, Existing Problems

Our Idea and Solution

Incentives

Now, the initial key factor that will dictate the growth of our ecosystem will not only be from the products we build or the UI/UX features we upgrade. It won’t matter whether we create the slickest UI in all of cryptoland if we cannot create a strong bridge of community between the Wizards and Muggles.

Education and information will play a key factor in the adoption of DeFi as an alternative means to traditional finance or traditional markets. We believe that no matter how advanced technology becomes, it will not see exponential growth or mass adoption unless 3 things happen in parallel.

  1. There must be proper incentivization for the general public to adopt a new system, even at the loss of convenience.
  2. Those new adopters must then be educated in steps or phases so that they can absorb the information required to understand how the technology or product works.
  3. Last but not least, those new adopters must then have a reason to want to tell others around them about the benefits that they have reaped by adopting the new technology.

With Uniswap, aka Uni, liquidity providers earn the pool’s trading fees when they are actively providing liquidity whilst risking dilution to bigger whales with worse wallets. With Sushi, liquidity providers earn the pool’s trading fees (like Uni), but with $SUSHI as the reward, making it possible for you to take your earned $SUSHI and stake it (allowing you to continuously earn rewards in the long run). This still means that your holdings and earnings are diluted gradually.

At Supreme, our team believes that the early adopters who support you while you are still a lump of coal are the ones who should be especially rewarded. They should be rewarded for their higher risk appetite as well as their support of the project in its infancy stages and faith in the project as it grows. In addition, early supporters, campaigners, advocates, and investors should have a clear incentive to continue to nurture and grow the community.

Much like Uni and Sushi, Supreme liquidity providers earn a portion of the pool’s trading fees (70%), with $HYPE as the reward. $HYPE will be issued as an ERC-20, but, unlike Uni & Sushi, initial liquidity providers who come on early earn a portion of the pool’s trading fees (30%) with $HYPEX.

$HYPEX will be issued as an ERC-20 and will only be available in supply via the initial liquidity pools. $HYPEX will not be listed on Uniswap and will be available for a 1:1 swap at any given point in time via an on-chain escrow swap. Tokens swapped out will be taken out of circulation and the % of fees to be accrued will be split into two pools. 50% will be reinjected into existing or newly created rewards pools acting as LP incentives for staking on the platform. The 30% will be routed to community governance controlled wallet to serve as an additional treasury for the protocol. The remaining 20% will be routed to a dev pool. We feel that this creates a way to reward long-term engagement with the protocol from day one and that it will prevent dilution of early-stage supporters whilst still giving them the option to get out and still maintaining enough incentive for whales and other future stage investors with bigger capital.

Additionally, when full community governance is implemented, 95% of governance tokens for the protocol (which will be issued at a future date) will be distributed via an airdrop, with 5% as the team supply. 70% of the supply will be distributed to the holders of $HYPE, the main protocol token, and 25% to the holders of $HYPEX. This means that if everyone sells their $HYPEX except for a few people, those few will have rights to the 25% of the governance token supply because they supported the protocol without a waiver from the initial stages.

Governance

After having observed the chaos that comes from launching a project, full on-chain governance from day one enables the possibility of many inefficiencies in development — attack vectors, economic exploits, and the possibility of programming factors that rely on the network traffic of the protocol, which would, in turn, require many possible forks of the network. With full on-chain governance, necessary and swift adjustments, which could be decided between a 5–10 person group within a few minutes, could take days through a governance vote on-chain.

Let us be clear — our goal is to reach full decentralization with community governance. However, we are also realists and have made risk/gain assessments, determining that the protocol and its community must mature enough to constitute the justification of fully on-chain governance implementation. This being said, we will, in the near future, be implementing a fully decentralized community governance system.

Token Distribution

45% of the total supply of $HYPE will be put into a time-locked escrow that will allow a 1:1 swap for 1 $HYPEX(ERC-20) to $HYPE(ERC-20). (Logic mentioned above)

45% of the total supply will be distributed as follows:

30% of total supply via Uniswap LPs(5 pools)

USDT/HYPE

USDC/HYPE

WBTC/HYPE

ETH/HYPE (3x)

UNI/HYPE

15% of total supply via Sushi LPs(3 pools)

ETH/HYPE (3x)

WBTC/HYPE

USDC/HYPE

USDT/HYPE

SUSHI/HYPE

After the initial distribution period of 14 days, after every block, 100 $HYPE will be created and these tokens will be equally distributed to the contributors of the respective supported pools.

Once governance is live, the community will have full control of adding or removing pools, as well as the weighted reward of the pools, and even new incentivization methods altogether. Capitalist democracy at its finest.

Token Supply

Ticker/s: HYPE (ERC-20)

HYPEX (ERC-20)

One-way 1:1 (HYPEX to HYPE) swap via platform possible via on-chain escrow

Initial Fair Distribution: 45%

Team/Founders: 10%

Advisors/Angel Investors (Friends/Family): 5 %

Partnership Reserve: 5%

Marketing Reserve: 5%

New Feature Reserve: 15%

Centralized Exchange Liquidity Reserve: 15%

Fair Distribution: 45%

*** All reserves not used in the first 100 days will either be burned or injected into a pool under community governance. Any tokens being burned or reallocated will be publicly announced via our social channels at least 24 hours prior to execution.***

Rewards

With Supreme, 0.25% goes directly to the active LPs of the pool. And 0.05% gets split with a 7/3 split amongst $HYPE holders and original $HYPEX holders.

Migration

Users/Usage

We also have a mobile app in the works, which will include the following features:

  1. Wallet
  2. Lending/Borrowing (via APIs/products from various protocols)
  3. Options and other DeFi products (some will be designed by the team but mostly via APIs/products from various protocols)
  4. Inter-blockchain Escrow (Wrapper)
  5. Voting for on-chain Governance

Sustainability

Audit

Roadmap

  • Starts on the date of our platform launch for our web services.
  • Rewards distribution shall happen for 14 days from the start.

Initial Listing:

  • December 22nd on Coinbene

Web platform/service launch date:

  • Feb 3rd, 2021

Mobile Application platform/service launch date:

  • Mid-late March 2021.

Supreme Finance is simply an adoption-focused DeFi protocol on which we intend to create a fully-integrated user-friendly platform/service, to connect

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