In order to let all users have a more comprehensive, intuitive, and detailed understanding of the functions and features of the Free Market, we have released the “SuperEx Free Market Explained”, which collects a lot of user concerns, and hopes to help you understand the Free Market most quickly.
1. SuperEx Free Market Project Background
SuperEx is the world's first Web3-based cryptocurrency exchange. We first proposed to combine CEX with decentralized Web3 wallet in 2021 and officially debuted it in 2022, thus changing the new layout of the entire crypto trading market. As of October 2023, SuperEx, as the world's first Web3-based cryptocurrency exchange, has over 10 million users from over 166 countries worldwide, and has established DAO organizations in more than 20 countries around the globe, truly decentralizing and handing over community authority to users.
Now we are about to launch a brand new product: Free Market-which completely hands over the authority to upload tokens to users, allowing millions of users to experience token uploading, feel the decentralized process of uploading tokens and the convenience of placing orders in the order book, and further realizing the Web3 eco-concept of SuperEx.
2. Is Free Market different from the spot market?
Free Market is a sub-section of the SuperEx Spot Market for listing digital assets (tokens). Spot Free Market listed coins will be automatically paired with USDT, and tokens will be available for all SuperEx users to replenish and trade as soon as they are listed.
3. What are the special advantages of Free Market?
One-minute upload: Simply enter your token contract address into SuperEx and click on upload, it only takes a minute to upload and trade without communication;
Zero-cost participation: no coin-up fees are charged, ending the era when project parties need to pay high coin-up fees to exchanges;
80% fee return: the creator of the trading pair can get a maximum of 80% fee share, realizing a win-win situation for the community, the project side and the exchange;
Freedom to upload coins: there is no limit to the number of times users can upload coins, and they are free to upload potential coins first;
Freedom of choice: the same coin, each community can be on the shelves of the exclusive copy of the liquidity aggregation, fair and just;
Fair trade: there is no VIP fee discount, fair trade.
Free choice: buying and selling coins can be traded by choosing the copies created by your trusted KOLs.
Multi-latitude aggregation: Orders for the same trading pair with different copies can be matched and aggregated across copies to improve liquidity.
0 handling fee for buyers.
4. What conditions do my tokens meet to go live on Free Market?
All tokens on top of SuperEx Free Market supported public chains can be online, if there are unsupported public chains, users or projects are welcome to contact us. Business e-mail: business@superex.com
5. What kind of information do I need to prepare to get my tokens online?
Only 2 documents are required:
The contract address of the token;
Brief description of the token and information about the official website;
In the next version, Free Market will automatically capture the information of the coin from block browsers and authoritative industry quotes, so that the coin owner only needs to fill in the contract address to complete the coin listing.
6. Is there a fee to upload coins on Free Market?
At Free Market, we leave the authority to upload tokens to our users, so we do not charge any uploading fees.
7. How long does it take to get listed on Free Market after the tokenization process?
SuperEx Free Market supports instant token uploading. Once you have completed the token uploading process, a copy of the pair you created will be available for replenishment and trading in the Free Market section of the Spot Market.
8. What is a pair copy?
The same coin (with the same main chain and contract address) can be coined repeatedly on Free Market. Each time the coin is listed, a copy of the coin is created. Influential KOLs can lead users to trade on the pair they have created, and SuperEx will pay up to 80% commission based on the turnover of the pair.
9. Under the same currency, are the trading pairs copy's trading handicaps independent or shared?
Under the same currency, trades on all the copies will share a single order book and K-line chart;
Under the same currency, the system summarizes the orders from all copies of a particular currency, and the buyer and seller of a traded order may come from different copies.
10. Why is it possible for n number of people to create trading pairs of copies?
The success of a project relies on the consensus of all the users, kol, organizations that recognize the project to promote it together, so we support duplicate coins of the same coin, but in order to ensure the rights and interests of those who uploaded the coins, our commission sharing is separate, the commission of the transaction in the copy of A, will be earned by A. It helps the project side to promote, and also maintains the rights and interests of the coin uploaders.
11. With so many coins and trading pairs of copies, how can I make a quick location?
You can quickly locate the token you want to trade by searching for the token's contract address, token name or copy title.
12. How do we determine if it is the same coin?
The way to confirm a token is by main chain + contract address, meaning that if two tokens are on the same main chain and have the same contract address, they are the same token regardless of whether they have the same token name or not. If the two Free Market coins have the same name, but the main chain or contract address is different, then they are different coins.
13. How does SuperEx ensure the security of Free Market tokens and protect users' rights?
First of all, we will regularly take down Free Market's illiquid projects to ensure the rights and interests of users; (For specific rules of taking down the tokens, you can check through the platform announcement)
Secondly, we will introduce a scoring mechanism for projects in Free Market 2.0: scoring from smart contract security, token liquidity, token social information and other aspects.
14. Token Security Scoring
In order to ensure the security of tokens, we cooperate with professional blockchain security teams GoPlus and CertiK. Cross-validation of token security programs is conducted to ensure that security meets the highest standards. Common assessment dimensions for token security include:
Whether it is open source;
Whether ownership can be taken back;
Whether it is a honeypot;
Whether the owner can modify the balance;
Whether the owner is hidden, etc.
If a token is detected to have significant security risks during the tokenization phase, we will refuse to put it online.
At the same time, we will regularly scan all tokens that have been uploaded on SuperEx Free Market to avoid major risky changes in the security of the tokens, and continuously monitor the holdings of whales on the chain for every day's transactions.
15. Token Social Information Scoring
In the future update plan, we use authoritative industry information websites, such as coinmarketcap, coingeck, etc. to obtain social information about tokens, in order to provide users with a comprehensive background and dynamics of tokens. [line breaks].
At the same time, through the docking twitter api and telegram api, to obtain the performance of tokens in social media, through the social media discussion degree to the token rating, users can clearly judge the token social media hotness.
16. What should we do if there is insufficient liquidity for the coins launched?
We will open the api to users, so that users, project owners, kol, and institutions can participate in token market making with traffic and heat.
At the same time, in order to enhance the liquidity of tokens, we plan to introduce a simulated automated market maker (AMM) mechanism, and set up a token liquidity pool and a reward pool. This mechanism will not only increase the trading activity of tokens, but also provide holders with more trading opportunities and rewards, the program is not yet online, please stay tuned to our official announcement.
The token liquidity pool can be maintained by both the token owner and community members, and is visible to all traders.
17. What benefits do I get as a token uploader?
You can get up to 80% of the commission of the copy pairs you create.
18. How can I promote my coins as a project owner and as a kol?
For high quality projects, you can contact the marketplace and promote them through campaigns. In the future, we may iterate the Free Market section, where you can create your own campaigns to promote your project through the campaign templates we provide in the Free Market section. Of course, this is a basic campaign, but for more complex campaigns, you will need to talk to the marketing department for more details.
19. How to contact us?
Business Cooperation: business@superex.com
Customer Service Inquiry: support@superex.com