An Overview of the New Issuance Platforms Time.fun and Super.exchange in the Solana Ecosystem
The downturn cycle also brings innovation. Standing at the window of market panic, could new opportunities arise from new stocks?Author: Deep Tide TechFlow
Bitcoin has dropped to $86,000, and the market is in despair.
When panic and anxiety from the decline loom, the market often pays more attention to new ways of asset issuance.
Yes, although $SOL has fallen to around $130, it does not dampen the enthusiasm of Solana ecosystem projects for innovation. Just yesterday, two new asset launch platforms, Time.fun and Super.exchange, have been continuously gaining traction and hype.
1. Time.fun: Is Your Time Very Valuable?
Strongly Promoted by Solana Executives
Yesterday, Solana co-founder Toly (@aeyakovenko) "launched a token," but unlike the celebrity tokens previously launched on pump.fun, this time Toly chose the platform Time.fun, a SocialFi platform where you can sell your own time.
Its token $toly (toly's minutes) reached a market cap of $20 million at its peak, currently around $8 million, with a unit price of $80, or $80 per minute.
This time-based pricing mechanism is the innovative mechanism of Time.fun.
Similar to the previously popular Friendtech, Time.fun allows creators to convert their social engagement opportunities into tokens, but this time it is priced by time (per minute). Fans can purchase these time tokens to gain opportunities to interact with creators. This interaction includes basic functions like private messages and group chats, with plans to introduce richer interaction methods such as voice/video calls and auctions in the future. Creators can earn transaction fees from each token trade, maximizing the value of their time.
Time.fun was formerly Circle.tech, initially deployed in the Base ecosystem, and recently launched in the Solana ecosystem. Toly not only chose to join Time.fun at the first opportunity but also praised the project itself: "Business communication is my favorite crypto use case."
Similarly, an important member of the Solana ecosystem, Mert Mumtaz (@0xMert_), also recognized Time.fun and launched his own token $mert on Time.fun.
How to Participate?
Visit the Time.fun official website: https://time.fun/login, and first register and log in using your email.
Transactions on the platform are priced in USDC, and there is 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 this account, which can be done via credit card, Apple Pay, or crypto transfers.
After depositing funds, select the celebrity Ticker you want to trade. There are no restrictions on the amount you can buy, and you can price it by time or in USD.
In addition to purchasing others' time, you can also sell your own time. It is worth noting that users issuing time tokens on the platform must go through identity verification, ensuring that the tokens purchased on Time.fun are genuine celebrity tokens.
2. Super.exchange: Trade First, Buy Tokens Later; The Earlier You Enter, The More Advantageous?
Super.exchange is a comprehensive variant similar to Pump.fun + Hyperliquid, improving two core gameplay aspects of current asset issuance platforms: growth curves and points incentive systems.
Next, I will briefly explain its operating principles from the perspectives of technical implementation and user participation.
Super Curve Based on Pump.fun Improvements
Unlike the internal and external mechanisms of Pump.fun, Super Exchange's Super Curve divides the token's lifecycle into multiple stages through a combination of 7 types of curves:
*(xⁿ * y = k, where n is 32, 16, 8, 4, 3, 2, and 1)*
Low Market Cap Stage (High n value): The curve is flat, allowing the token price to rise slowly, preventing early investors from buying too many tokens at once and then dumping them.
Medium to High Market Cap Stage (Low n value): The slope of the curve gradually increases, ensuring that there is still sufficient liquidity support when the price rises.
In simple terms, this design prevents large players from acquiring massive amounts of tokens in the early stages, thus avoiding the phenomenon of large individual holders crashing the price during the token's upward trend.
Points Incentive Mechanism
In addition to relying on improved launch curves to ensure institutional fairness, the incentive mechanism of purchasing platform tokens $SUPER with platform points is the main way to attract users.
- Points Distribution Rules
Points are distributed every 5 minutes, with the total amount dynamically calculated by the following formula:
As the total amount of SUPER tokens decreases, the points distributed in each cycle gradually decline, meaning that users who participate earlier will benefit more.
80% of points are allocated to traders, and the points earned are linked to their trading behavior and token quality: The larger the trading volume and the higher the liquidity and user base of the traded tokens, the more points earned.
20% of points reward referrers, allowing users to earn 25% of the points of the invited users.
- Points and Tokens Binding
The points accumulated by users can be used to purchase platform tokens $SUPER at a fixed price, with a redemption ratio of 1:1. The official will use 50% of the transaction fees to repurchase $SUPER and burn it.
Therefore, early users who purchase $SUPER at a fixed price will pay less than the long-term repurchase + burn price of $SUPER in the market. Currently, the market cap of $SUPER is around $210,000, and from the price curve, early participants have already made profits.
Summary
Overall, the two platforms have distinct model differences but both attempt to explore new paths for asset issuance through mechanism adjustments:
Time.fun segments celebrity time into tradable tokens, essentially trying different token issuance methods to monetize social influence on-chain. Its core relies on the personal traffic of creators, which may gain popularity in the short term due to endorsements from Solana bigwigs, but in the long run, it needs to verify users' willingness to pay and the sustainability of creators' enthusiasm for building.
Super.Exchange showcases a gameplay that "attracts small retail investors" through innovative curves and token purchase limits + repurchase mechanisms. However, in the long run, the competition among small funds may more easily evolve into short-cycle PVP, and the points incentive is highly dependent on the price expectations of the $SUPER token. If the market remains sluggish, it may weaken the model's attractiveness.
Unfortunately, at this time of poor market sentiment, whether it is the time selling of Time.fun or the points earning of Super.exchange, if market enthusiasm continues to decline, the current hype for these new assets may just be a helpless move by small funds in the face of falling fears. Whether short-term enthusiasm can be transformed into long-term value still largely depends on the team's willingness to continue building the project.
As a user, being willing to try and embrace new opportunities may be a feasible way to find new chances during market confusion. However, it is still important to pay attention to risks, participate cautiously, and DYOR.
