A quick look at the Solana ecosystem's new issuance platform Time.fun and Super.exchange

Authored by: Deep Tide TechFlow

Bitcoin dropped to $86,000, and the market is in an uproar.

When panic and anxiety brought by the decline shroud, the market tends to pay more attention to new ways of asset issuance.

Yes, even though $SOL has dropped to around $130, it does not affect the enthusiasm for the renovation of Solana’s ecosystem. Two new asset launch platforms, Time.fun and Super.exchange, have been continuously fermenting and hyped up yesterday.

1.Time.fun: Is your time very valuable?

Solana high-level push

Yesterday, Solana co-founder Toly (@aeyakovenko) ‘launched’ a new coin, but unlike the celebrity coins previously launched on pump.fun, this time Toly chose a platform called Time.fun, a SocialFi platform where you can sell your own time.

Its token $toly (toly’s minutes) reached a peak market value of $20 million after its launch, and now it is around $8 million, with a unit price of $80 per token, or $80 per minute.

This time-based pricing mechanism is the innovation of Time.fun.

Similar to the previously popular Friendtech, Time.fun allows creators to convert their social opportunities into tokens, but this time it is priced in terms of time (per minute). Fans can purchase these time tokens to interact with creators. This interaction includes basic functions such as private messaging, group chats, and in the future, more interactive features such as voice/video calls and auctions are planned. Creators can earn transaction fees from each token transaction, maximizing the value of time.

Time.fun, formerly known as Circle.tech, was originally deployed in the Base ecosystem and has recently officially launched in the Solana ecosystem. Toly not only chose to settle in Time.fun at the first time, but also praised the project itself: “Business communication is my favorite encryption use case”.

Similarly, Mert Mumtaz (@0xMert_) an important member of the Solana ecosystem, also approves of Time.fun and its own token $mert.

How to participate?

Visit the Time.fun official website:

Trading within the platform is priced in USDC, no need to connect an existing wallet, the platform will generate a dedicated corresponding wallet account. You need to deposit USDC on the Solana network into the account, which can be done through credit card, Apple Pay, and cryptocurrency transfer.

After depositing funds, select the celebrity Ticker you want to trade, and there is no limit on the purchase amount. It can be priced in units of time or in US dollars.

In addition to buying other people’s time, you can also sell your own time. It is worth noting that users who issue time tokens on the platform must pass identity verification, ensuring that what is purchased on Time.fun is genuine celebrity coins.

2. Super.exchange: Trade first before buying coins, the earlier you enter, the more advantageous?

Super.exchange is a comprehensive variant similar to Pump.fun + Hyperliquid, improving two core gameplay of the current asset issuance platform: growth curve and reward points system.

Next, briefly describe its operation principle from the perspectives of technical implementation and user participation.

Super Curve improved based on Pump.fun

Unlike the internal and external disk mechanism of Pump.fun, Super Exchange’s Super Curve is formed by the combination of 7 curves.

(xⁿ * y = k, where n is 32, 16, 8, 4, 3, 2, and 1)

Divide the token’s lifecycle into multiple stages:

Low market value phase (high n value): The curve is flat, allowing the token price to rise slowly, avoiding early investors from selling off too many tokens at once.

Mid-to-high market cap stage (low n value): The curve slope gradually increases to ensure sufficient liquidity support during price uptrend.

Simply put, this design prevents whales from acquiring a huge amount of chips in the early stage, to some extent, avoiding the phenomenon of individual large holders disrupting the trend during the token’s rise.

Incentive Mechanism for Points

In addition to relying on improving the launch curve to ensure institutional fairness, the incentive mechanism of using platform points to purchase the platform token $SUPER is the main means to attract users to enter.

Points Distribution Rules

Points are distributed every 5 minutes, and the total amount is dynamically calculated by the following formula:

As the total amount of SUPER tokens decreases, the points distributed in each cycle gradually decrease, which means that users who participate earlier will receive higher returns.

80% of the points are allocated to traders, and the points obtained are linked to their trading behavior and token quality: the larger the trading volume, the higher the liquidity of the trading token, and the user base, the more points obtained

20% point reward for the inviter, users can obtain 25% of the invitee’s points by inviting new users.

Points are bound to tokens

Accumulated points can be used to purchase platform token $SUPER at a fixed price, with an exchange ratio of 1:1. The official will use 50% of the trading fees to repurchase $SUPER and burn it.

So early users who purchased $SUPER at a fixed price will be lower than the market price of $SUPER after long-term repurchase and destruction of the project. Currently, the market value of $SUPER is around 210,000 US dollars, and from the price curve, it can be seen that early participants have already made profits.

Summary

Overall, the two platform models have significant differences, but both are trying to explore new paths for asset issuance through mechanism adjustments:

Time.fun cuts celebrity time into tradable tokens, essentially attempting to monetize social influence through different coin issuance methods on the chain. Its core relies on the personal traffic of creators, which may gain popularity in the short term with the endorsement support of Solana giants entering the market, but in the long run, it needs to verify the sustainability of user payment willingness and creator enthusiasm for construction.

Super.Exchange uses innovative curve and token purchase limit + repurchase mechanism to demonstrate the gameplay of ‘attracting small retail investors.’ However, in the long run, the game between small funds may evolve more easily into PVP in the short term, and the point incentive highly depends on the token price expectation of $SUPER. If the market continues to be sluggish, it may weaken the attractiveness of the model.

Unfortunately, the current market sentiment is not optimistic. Whether it’s Time.fun’s time sales or Super.exchange’s point mining, if the market enthusiasm continues to decline, the current pursuit of these new assets may only be a helpless act for small funds in the face of falling fear. Whether short-term popularity can be transformed into long-term value, the team’s willingness to continue building the project still accounts for the majority.

As a user, don’t hesitate to try, embracing new opportunities may be a feasible way to find new opportunities in the market confusion period. But still pay attention to the risks, participate cautiously, DYOR.