SUP is the value-capture token for MOV Superconductor, a crucial component of the MOV ecosystem. SUP holders will govern aspects of the Superconductor protocol, including determining transaction fee rates, listing/delisting liquidity pools (i.e., trading pairs), and directing the protocols development through proposals and votes on upgrades.
SUP represents a meaningful social experiment, with its future shaped by the community and determined by SUP holders. As the MOV Superconductor product evolves and improves, SUP will reflect significant value.
SUP is distributed entirely through decentralized means, rewarding liquidity providers in the Superconductor from block height 72576000 on the VeChain sidechain. There was no pre-mining, no reserve, and no private sale, ensuring absolute fairness for everyone, placing all participants at the same starting line!
One week after the start of liquidity mining, 20% of the Superconductor protocol fees will be used to buy back and burn SUP. This buyback and burn process will occur weekly.