升级版的Pump.fun,Super.exchange怎么玩?

Odaily星球日报Published on 2025-02-26Last updated on 2025-02-26

Abstract

在创新机制、社区飞轮能的双重驱动下,能否成为拯救meme的Super hero?

市场苦内幕交易者久矣。这恐怕是每一个被总统币、老婆币收割后的 degen 都会发出的感叹。好不容易熬住了韭菜局、rug 盘,昨天一场瀑布洗脸又让市场情绪 fud 起来。

就在此时,「无 LP,无内幕。」「熊市由我们来拯救!」——一个名为 Super.exchange 的项目如 Super hero 般的救市宣言直击痛点,迅速在社区引起了关注。这个 Solana 生态新资产发行平台究竟有什么魔力?

升级版的 Pump.fun

为什么 meme 内幕频发、狙击不断、撤池子屡见不鲜?在 Super.exchange 看来,有很大一部分问题在于「Bonding Curves 已经被玩坏了」——这是代币无法实现价格发现,暴涨暴跌的核心原因之一。

针对早期控盘问题,Super.exchange 把传统 bonding curve 升级成 Infinite Bonding Curve AKA Super Curve,使价格上涨更加平缓。Super Curve 的原理并不复杂,可以把它看作由 7 条不同曲线组成的 Bonding Curve。这七条曲线就像手动挡汽车的变速器,汽车要加速,必须换档。与之类似,要让代币的价格「加速」,其基础流动性也必须「换档」。Super Curve 的七个「档位」在保持市场深度稳定的同时,促进了价格的快速且持续增长。

所以 Super Curve 解决了什么?传统的 bounding curve 因为早期增长过慢,某些买家可以积累很大比例的代币供应量。而在后期,由于曲线增长过快,会导致流动性缺口,且在没有做市商支持的情况下,继续交易会很困难。但是利用 Super Curve,所有价格区间都有永久锁定流动性,避免了 rug 风险,确保价格可持续增长。

升级版的Pump.fun,Super.exchange怎么玩?

使用 Super Curve 与传统 Bonding Curve 代币增长的对比,图片来自 @_superexchange 官方账号

更具体一点,通过传统 Bonding Curve 在 Pump.fun 上控制 80% 的代币供应量,只需要不到 2 万美元,价格只上涨了 15 倍。但在 Super 上,想要买到 80% 的代币,价格会涨 40, 269 倍。这样一来,也就很难在代币早期以较低的价格囤积大量筹码。

升级版的Pump.fun,Super.exchange怎么玩?

Super Curve 与传统模型的市场深度特征,图片来自 @_superexchange 官方账号

在 Pump.fun 上,随着市值的增加,池子的深度迅速下降。Super.exchange 通过消除对流动性提供者的依赖,防止撤池子,确保可持续的流动性,创造了一个安全且有增长潜力的交易环境。

不只是 Super Curve 的创新,Super.exchange 还很敏锐地解决了冲 meme 时另一个让从 p 小将到 p 元帅都头疼的痛点——ticker 的唯一性。

还记得半个月前 BNB Chain 的西兰花大战吗?大量同质化代币同时发出,顶着同样的图片和名字刷屏新币看板,激烈 pvp 就此上演。但尝试在 Super.exchange 搜索$SUPER,出来的结果令人神清气爽。再也不用一个个挨个排查真假,每个 ticker 都是代币的唯一身份标识,而且全部采用英文字母大写,大小写之争也可以就此休战了。

升级版的Pump.fun,Super.exchange怎么玩?

最后,Super.exchange 还打造了自己的平台币$SUPER。$SUPER100% 归社区所有,拥有通缩机制与透明的回购销毁政策。$SUPER 共计 10 亿总供应量公平启动,无预留、无抢跑、无 VC 配额。其中,50% 平台手续费收入用于回购$SUPER 并销毁,以 5 分钟为一个区间由智能合约执行,全过程透明上链。而且随着平台发展,回购规模扩大,推动币价长期增长,搭建起社区成长的飞轮。

升级版的Pump.fun,Super.exchange怎么玩?

Super.exchange 怎么玩

Super.exchange 该如何上手?用户进入主页链接钱包后,主要可以交互以下三种功能。

如何发币

主页右上角可见「create」选项,点击后分别输入代币头像、ticker 和名字,即可完成创建。如果选用的 ticker 已被占用,则无法发出同名代币,支持 10 位以内的数字+字母组合。除 ticker 创建后不可更改之外,其它选项可经社区投票后进行修改。根据实操结果,发币大约需要 2.5% 的手续费,比 Pump.fun 略贵。

升级版的Pump.fun,Super.exchange怎么玩?

如何买币

Super.exchange 也有内外盘之分。主页点击「MARKETS」后即可看到代币看板,其中「Markets」是外盘;「New Pairs」相当于内盘。各个代币的市值 Super Curve 来进行计算。点击代币头像进入购买页面可自行设置金额和滑点。购买后可在「PORTFOLIO」查看购买的资产。

升级版的Pump.fun,Super.exchange怎么玩?

如何获得$SUPER

目前官网只给出两种获得$SUPER 的方式:交易和拉新。交易表现越高的代币,赚取的积分越多;邀请好友则是可以获得他们交易积分的 25% 。1 积分 = 购买 1 SUPER 的权利,相当于只有平台活跃的交易者才有购买$SUPER 的权利,有利于让真正使用平台进行交易的早期用户享受红利,而不是让鲸鱼们在新的 DeFi 协议中锁定数百万的流动性。

升级版的Pump.fun,Super.exchange怎么玩?

会是 meme 的 Super hero 吗

现在看来,Super.exchange 的确在一定程度上解决了当前饱受诟病的 meme 市场的痛点:庄家内幕盘、低价攒筹码、ticker 难分辨、拉盘后 rug。这些问题在 meme 彻底沦为赌场之后,让市场充满了不确定性和信任危机。在这一点上,Super.exchange 通过其独特的设计和机制,似乎为这些乱象提供了一种解决方案,至少在表面上让交易环境显得更加透明和公平。

但如果回顾整个 meme 超级周期,其兴起的本质更多是社区驱动的文化现象,而不仅仅是技术或发币机制所能完全涵盖的。虽然 Super.exchange 优化了交易机制,但很难否认 meme 的最吸引人的地方,很大一部分来自于 Pump.fun 给它量身定制的彩票站和百倍千倍的造富神话。

相关阅读:《Neiro 复活:交易平台正在成为 meme 市场的「国足裁判」| 10 0x 复盘

当前的改进或许能遏制一些投机行为,但也很难回答以下问题:如何在没有拉盘这一短期刺激的情况下,迅速凝聚起强大持久的社区共识?如果 meme 的彩票赔率不再诱人,还会吸引那么多人枯坐、带来新的流动性吗?尤其是在熊市的当下,meme 是会当作 oversupply 被市场出清,还是以其情绪和思潮价值继续横跨周期?这可能才是 meme 未来发展的真正关键所在。

而对于 Super.exchange 来说,能不能在市场千疮百孔之后,通过更加合理的价格发现机制,筛选出真正具有共识和价值的 meme?在创新机制、社区飞轮能的双重驱动下,能否成为拯救 meme 的 Super hero?或许只有时间才能给出答案。

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Built on the Ethereum blockchain, CRMON utilises robust smart contract capabilities to ensure transparent, secure operations. The smart contract architecture incorporates layered security and compliance mechanisms, enabling automated compliance checks and real-time asset backing verification. Integration with oracle services maintains accurate pricing and dividend information, ensuring CRMON reflects the underlying Salesforce stock's accurate performance. This architecture delivers automated dividend reinvestments and other corporate actions, eliminating manual processing requirements and directly enhancing tokenholder benefits. Ondo Finance ensures CRMON's security structure includes daily third-party verification of holdings, independent collateral agents, and a multiple-layer custody system through partnerships with established financial institutions. This framework safeguards tokenholder interests against operational risks while providing robust asset backing. 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His insights into regulatory compliance were paramount in developing products like CRMON that successfully unify traditional securities with blockchain technology. With a team of professionals boasting substantial experience in both conventional finance and blockchain sectors, Ondo Finance's leadership comprises diverse expertise that covers every aspect of tokenised asset development. Justin Schmidt serves as President and COO, contributing unique operational expertise, while Chris Tyrell brings essential compliance knowledge. Investment Landscape and Funding History The investment landscape surrounding Ondo Finance reflects significant institutional confidence in its mission to tokenise real-world assets. The company has raised substantial funds through various investment rounds, attracting leading venture capital firms and strategic investors that recognise the transformative potential of tokenised securities like CRMON. Notably, Ondo Finance completed a successful Series A funding round in 2022, led by well-known venture capital firms. This funding success validates Ondo Finance's innovative approach to creating compliant, institutional-grade tokenised products. In total, Ondo Finance has successfully secured substantial funding, raising significant capital for product development and market expansion, including a noteworthy token sale that reinforced its governance structure through the establishment of the ONDO token. The diverse composition of investors reflects broad market confidence in Ondo Finance's business model, demonstrating support from both traditional and blockchain-native organisations. Operational Mechanics and Technical Implementation The operational framework supporting CRMON exemplifies sophisticated integration of traditional financial mechanisms with blockchain technology. The technical implementation introduces multiple layers of security, compliance, and operational efficiency to meet institutional standards while enhancing accessibility. The tokenisation process begins by acquiring actual Salesforce stock through U.S.-registered broker-dealers, ensuring each CRMON token maintains direct correlation with the underlying equity performance. Smart contracts automate operational processes, including dividend reinvestment and corporate action processing, facilitating a streamlined user experience. The Minting and redemption processes allow authorised participants to manage CRMON tokens effectively. During U.S. trading hours, institutions can mint new tokens by depositing stablecoins that are used to purchase corresponding Salesforce equity. This structure maintains a tight correlation with underlying assets, enhancing liquidity and price discovery. Additionally, the infrastructure supports twenty-four-hour token transfer capabilities, providing CRMON holders with operations outside traditional market hours. This represents a significant advantage over conventional securities ownership, thus promoting integration with decentralised finance applications. Plans for cross-chain compatibility through partnerships signal further ambitions for CRMON's market reach. By expanding to other blockchain networks, Ondo Finance aims to enhance accessibility and user engagement with tokenised equity products. Timeline and Historical Development of Tokenized Equity Innovation The timeline of CRMON's development and Ondo Finance's broader tokenised capabilities demonstrates a systematic innovation process beginning with the company's founding in 2021. 2021: Ondo Finance is founded by Nathan Allman and co-founders, launching initial products focused on structured vault offerings on the Ethereum blockchain. 2022: The company completes substantial funding rounds—both equity and token sales—totaling significant capital and launching initial tokenised U.S. Treasury products. 2023-2024: Ondo Finance experiences substantial growth, establishing partnerships with major financial institutions while expanding its product offerings beyond fixed-income securities. February 2025: Ondo Global Markets is announced, marking the transition into equity tokenisation with plans for accessing over one hundred U.S. stocks and ETFs. September 2025: The official launch of Ondo Global Markets includes CRMON alongside other tokenised equity offerings, marking a significant evolution in Ondo Finance's product ecosystem. This timeline highlights the organisation's rapid growth and its capability to adapt its technological and compliance frameworks to accommodate different asset classes effectively while maintaining security and regulatory integrity. Regulatory Framework and Compliance Approach Ondo Finance's regulatory framework showcases a sophisticated compliance strategy, essential for achieving institutional adoption in the tokenised securities market. The company's strong partnerships with U.S.-registered broker-dealers promote adherence to Securities and Exchange Commission regulations and apply robust investor protections. Acquisitions, such as Oasis Pro—a registered broker-dealer—significantly enhance Ondo Finance's compliance capabilities, ensuring thorough alignment with existing regulatory structures. The company employs independent verification procedures that foster transparency, aiming for a solid performance standards reputation. Furthermore, Ondo Finance's commitment extends to international regulatory compliance, ensuring token access remains restricted to eligible investors while adhering to pertinent cross-border securities regulations. Comprehensive attention to tax implications and reporting requirements fortifies the security and compliance landscape of CRMON, ensuring that investor obligations remain manageable. Future Prospects and Market Positioning The forward-looking landscape for CRMON and Ondo Finance illustrates substantial growth opportunities driven by institutional adoption of blockchain technology and escalating demand for efficient alternatives to conventional securities ownership. Market projections indicate the tokenised asset sector could value multiple trillion dollars by 2030. With plans to scale CRMON offerings significantly and integrate it with a dedicated blockchain infrastructure—Ondo Chain—Ondo Finance aims to elevate its institutional-grade tokenised asset operations. Additionally, the development of strategic partnerships enhances distribution capabilities while establishing the company's credibility in the financial market. Furthermore, the integration of tokenised equity with decentralised finance protocols offers new potential for innovative financial products and strategies previously impossible with traditional securities. These factors underscore CRMON's positioning to effectively capture increased market share and deliver innovative solutions for international investment exposure. Conclusion Salesforce Tokenized Stock (CRMON) symbolises a transformative development within financial markets, successfully bridging traditional equity ownership with blockchain technology to create unprecedented accessibility for global investors. Through Ondo Finance's sophisticated tokenisation framework, CRMON provides complete economic exposure to Salesforce equity performance while enhancing operational advantages that exceed traditional ownership. The launch of CRMON reflects the broader evolution of financial markets towards blockchain infrastructures that maintain regulatory compliance while delivering increased efficiency. Ondo Finance's extensive approach to regulatory adherence, institutional-grade security, and technological innovation solidifies CRMON as a model for future tokenised securities, delivering access previously unattainable in conventional brokerage structures. As the tokenised asset sector continues to develop, CRMON is well-positioned to address historical inefficiencies in capital markets while providing investors with innovative solutions for accessing traditional securities. The outlook for CRMON looks exceptionally promising, supported by ambitious expansion plans, technological innovations, and strategic partnerships, thereby representing a pioneering model of modern financial infrastructure evolving through blockchain integration.

3.4k Total ViewsPublished 2025.12.05Updated 2025.12.05

What is CRMON

What is SHOPON

Shopify Tokenized Stock (Ondo): A Comprehensive Analysis of Real-World Asset Tokenization in Web3 This article delves into the Shopify Tokenized Stock (Ondo), recognised by its ticker symbol $SHOPON, exploring its implications at the intersection of traditional finance and blockchain technology. As a part of Ondo Finance's tokenized securities platform, Shopify’s tokenized stock exemplifies advancements in democratizing access to global capital markets through innovative digital assets. Introduction and Overview of Shopify Tokenized Stock (Ondo) Shopify Tokenized Stock (Ondo), or $SHOPON, portrays a pivotal innovation in the realm of tokenized securities, allowing investors to gain economic exposure akin to directly owning shares of Shopify Inc. This token, developed under the umbrella of Ondo Finance, not only provides investors with the ability to hold digital representations of the company’s stock but also integrates features such as automatic reinvestment of dividends. This advancement represents a substantial shift in the landscape of decentralized finance (DeFi), linking conventional equity markets with blockchain solutions designed to enhance accessibility, transparency, and liquidity. By eliminating geographical barriers and enabling 24/7 trading capabilities, $SHOPON is positioned as a bridge connecting traditional financial instruments and the emerging Web3 ecosystem. What is Shopify Tokenized Stock (Ondo), $SHOPON? The $SHOPON token serves as a digital manifestation of Shopify Inc.'s shares, engineered to provide a direct correlation to the underlying asset's performance. Through the utilization of blockchain technology, the token gives holders a mechanism to participate in the economic benefits associated with equity ownership, including capital appreciation and dividend distribution. The unique aspect of $SHOPON lies in its automatic dividend reinvestment mechanism, which allows returns to compound without necessitating active management by the investor. This feature inherently enhances its attractiveness as an investment vehicle, particularly for individuals seeking passive income growth alongside exposure to high-performing equities. The tokenization process is facilitated by the custody of actual Shopify shares through regulated intermediaries, ensuring that every $SHOPON token is verifiably backed by real equity. This structure empowers investors with the dual advantages of both traditional financial characteristics and the innovative benefits tied to blockchain technology. Who is the Creator of Shopify Tokenized Stock (Ondo)? The creator of Shopify Tokenized Stock (Ondo), Nathan Allman, is an experienced figure in the finance sector, formerly associated with Goldman Sachs. His rich background includes significant expertise in digital asset development, bridging the gap between traditional finance and cryptocurrencies. Allman’s educational journey, marked by studies at Brown University, provided him with a deep understanding of economics and biology, equipping him with analytical skills that inform his strategic vision. In 2021, he founded Ondo Finance, committing to developing tokenized securities that meet institutional-grade standards while leveraging blockchain's transformative capabilities. Under Allman's leadership, Ondo Finance has focused on creating compliant and innovative financial products that empower a diverse investor base. Who are the Investors of Shopify Tokenized Stock (Ondo)? The investment landscape surrounding Shopify Tokenized Stock (Ondo) is notably robust, underpinned by significant institutional support. Primarily, Pantera Capital stands out as a strategic partner through the Ondo Catalyst initiative, a $250 million commitment aimed at accelerating the development of on-chain capital markets. This partnership not only signifies institutional confidence in the potential of tokenized assets but also reinforces Ondo Finance's operational capabilities and market positioning. The funding pathways have included earlier rounds that amassed millions in seed funding and further structural investments, solidifying relationships with both venture capital firms and private investors. Moreover, the financial framework is complemented by strategic partnerships with established financial institutions and technology companies, enhancing Ondo’s infrastructure and operational expertise. How Does Shopify Tokenized Stock (Ondo), $SHOPON Work? At the core of $SHOPON's operational framework is a sophisticated system integrating traditional finance mechanisms with blockchain technology. The custody of actual Shopify shares ensures that token holders retain authentic economic exposure, safeguarding their investments in line with recognized legal structures. The smart contracts employed in managing $SHOPON handle various functions, including automatic dividend reinvestment and ownership transfer, offering instant settlement and increased liquidity, marking a significant departure from conventional trading systems plagued by multi-day settlement delays. By providing interoperability with other decentralized finance applications, $SHOPON empowers holders with potentially lucrative opportunities for advanced investment strategies, including lending and automated market making. This complex integration presents a unique value proposition, catering to both traditional and crypto-native investors. The innovative structure of $SHOPON also allows for real-time settlements and transactions documented on the blockchain, delivering unparalleled transparency and security—a major advancement over standard equity trading practices. Timeline of Shopify Tokenized Stock (Ondo) March 2021: Nathan Allman establishes Ondo Finance, initially focusing on decentralized finance yield optimization. August 2021: Completion of a $4 million seed funding round led by Pantera Capital. January 2023: Launch of initial tokenized treasury security products, laying the groundwork for future equity tokenization. July 2025: Announcement of the Ondo Catalyst initiative, a strategic investment program valued at $250 million, aimed at propelling the development of tokenization in capital markets. September 3, 2025: Launch of Ondo Global Markets featuring over 100 tokenized U.S. stocks and ETFs, including $SHOPON. Technical Implementation and Blockchain Infrastructure Shopify Tokenized Stock (Ondo) operates on a technical architectural framework that marries blockchain protocols with traditional financial custody arrangements. The ecosystem leverages Ethereum's smart contract capabilities, providing seamless transaction management while ensuring compliance with regulatory standards through established financial custodians. Central to this architecture are security measures and transparent transaction records that affirm the legitimacy of each tokenholder's economic stake. With automated features managed by intricate smart contracts, $SHOPON not only streamlines ownership transfers but also allows for the tactical reinvestment of dividends—a hallmark of modern investment strategies. Moreover, the incorporation of LayerZero technology facilitates cross-chain interoperability, making $SHOPON accessible across multiple blockchain environments while preserving its functional robustness. This forward-thinking technical design positions $SHOPON as an adaptable asset within the larger DeFi milieu. Regulatory Framework and Compliance Architecture $SHOPON's regulatory framework is built upon the meticulous navigation of existing financial regulations that govern securities. The custody arrangements for the underlying Shopify shares are managed by U.S.-regulated broker-dealers, ensuring compliance and protection for investors. By maintaining a separation between the blockchain tokenization process and traditional custody, $SHOPON adheres to legal requirements while offering innovative functionalities that challenge conventional constraints. This dual-layered compliance approach enhances investor confidence and underscores Ondo Finance's commitment to regulatory integrity. Notably, the availability of $SHOPON is tailored to international investors from regions such as Asia-Pacific, Europe, and Africa, as regulatory parameters in the U.S. and U.K. present challenges in accessing tokenized securities. Market Access and Global Distribution Strategy The distribution strategy of $SHOPON is keenly designed to optimize global access while conforming to regulatory standards. The platform aims to establish comprehensive coverage for eligible investors across multiple regions, effectively dismantling traditional barriers through the implementation of blockchain technology. Integration with various cryptocurrency wallets and exchanges also promotes user-friendliness and accessibility, establishing a streamlined experience for investors to manage their holdings. Moreover, the 24/7 trading capabilities afforded by the tokenized model allow participants to react promptly to market shifts, fundamentally transforming how global equities are accessed and traded. Technology Integration and Cross-Chain Functionality The remarkable technological underpinnings of $SHOPON propagate its multi-chain functionality, set to expand its reach beyond Ethereum to networks such as Solana and BNB Chain. Such cross-chain capabilities allow users flexibility when navigating between blockchains, concurrently leveraging distinct network attributes to optimize their trading experience. LayerZero serves as the backbone for ensuring decentralized transfers between networks while providing the requisite security and speed, quintessential for maintaining investor trust. This comprehensive interoperability illustrates $SHOPON's commitment to being a versatile, user-centric asset in the evolving investment landscape. Ecosystem Integration and DeFi Compatibility Incorporating $SHOPON into broader DeFi protocols signifies its potential beyond traditional stock ownership. Token holders can leverage their holdings for various sophisticated strategies and applications, enhancing investment returns and liquidity management. By establishing a presence in lending protocols and automated trading systems, $SHOPON effectively democratizes access to advanced financial strategies previously limited to institutional investors. Such integration contributes to a more competitive and dynamic financial landscape, where individual investors can capitalize on tools typically reserved for larger entities. Risk Management and Security Framework Security remains paramount in the operational infrastructure of $SHOPON. The tokenization framework employs multiple layers of protection—beginning with regulated custody of the underlying Shopify shares. The operational protocols establish rigorous auditing, key management, and transaction monitoring standards, thus safeguarding against potential vulnerabilities. Moreover, meticulous adherence to evolving regulatory requirements provides an extra layer of security, fortifying investor protections and institutional compliance. Market Impact and Industry Implications The introduction of Shopify Tokenized Stock (Ondo) heralds a transformative shift in how financial markets operate, emphasizing the potential of tokenized securities to reshape traditional investment paradigms. The successful integration of $SHOPON encapsulates the efficiencies inherent in blockchain technology and opens avenues for new user demographics previously barred from extensive market participation. The impact extends beyond the immediate benefits to token holders, indicating broader trends that may challenge the status quo of investment services, particularly in addressing geographic restrictions and operational costs typically associated with traditional brokerage platforms. Undeniably, $SHOPON encapsulates the potential for traditional institutions to innovate further, leveraging the increasing demand for seamless blockchain access to complement existing financial infrastructure. Future Development Roadmap and Strategic Vision As Ondo Finance looks forward, the trajectory of $SHOPON rests on ambitious goals aimed at broadening the spectrum of available tokenized assets significantly. Over the next few years, plans are in place to expand to more than 1,000 tokenized securities, further enhancing market participation and investment options for individuals worldwide. Continued integration with traditional financial actors, development of specialized institutional products, and enhancements in automated trading capabilities will ensure that $SHOPON maintains its position at the forefront of financial innovation. Regulatory collaboration will also remain a focal point, establishing a framework that not only supports the compliance requirements but also promotes a healthy environment for tokenized asset proliferation. Conclusion and Market Significance In summary, Shopify Tokenized Stock (Ondo), represented by the ticker $SHOPON, is more than merely a tokenized equity offering; it embodies the innovation possible when traditional finance collides with modern blockchain applications. With a robust technical architecture, a commitment to compliance, and a clear strategic vision, $SHOPON exemplifies the potential for tokenized assets to enhance liquidity, accessibility, and functionality in capital markets. As the global investment landscape evolves, the transformative implications of $SHOPON extend beyond individual investors to revolutionize how financial instruments are perceived, traded, and utilized within both traditional and decentralized frameworks.

3.4k Total ViewsPublished 2025.12.05Updated 2025.12.05

What is SHOPON

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