What currency is SUPRA coin?

SUPRA coin, an ERC-20 token on the Ethereum blockchain, powers the SupraOracles network, a decentralized oracle providing reliable data and computations for various applications.

Dec 02, 2024 at 11:36 pm

What Currency is SUPRA Coin?

SUPRA coin, a native token of SupraOracles, is a decentralized oracle network that provides accurate and reliable data and computation outside the blockchain environment. SUPRA coin plays a vital role in the network's ecosystem, serving various functions that ensure the integrity and effectiveness of the network.

Properties and Attributes of SUPRA Coin

• Blockchain: SUPRA coin is an ERC-20 token, operating on the Ethereum blockchain.
• Transparency: All SUPRA coin transactions are recorded on the Ethereum blockchain, ensuring transparency and verifiability.
• Decentralization: SUPRA coin is distributed among network participants, promoting decentralization and community involvement.
• Tokenomics: The total supply of SUPRA coin is 100 million, with a capped issuance curve to control inflation.
• Utility: SUPRA coin is primarily used within the SupraOracles ecosystem, incentivizing network participation and facilitating data and computation services.

Functions of SUPRA Coin within the SupraOracles Ecosystem

1. Transaction Fees: SUPRA coin is utilized to pay transaction fees for queries and computations performed by the SupraOracles network.
2. Reward Mechanism: Nodes in the SupraOracles network receive SUPRA coin rewards for providing accurate data and performing computations.
3. Governance: SUPRA coin holders have voting rights in the network's governance system, influencing key decisions and network enhancements.
4. Stake Mechanism: Network participants can stake SUPRA coin to contribute to the security and reliability of the network and earn rewards.
5. Incentivization: SUPRA coin incentives encourage participation in data provision, oracle operation, and community contributions within the SupraOracles ecosystem.

Obtaining SUPRA Coin

• Exchanges: SUPRA coin can be purchased and traded on various cryptocurrency exchanges, such as Binance, Gate.io, and Uniswap.
• Mining: SUPRA coin can be mined through the SupraOracles decentralized network, utilizing specialized software and hardware.
• Liquidity Pools: SUPRA coin can be provided as liquidity in liquidity pools on decentralized exchanges (DEXs), earning rewards for providing liquidity.
• Staking: SUPRA coin can be staked in the SupraOracles network, contributing to its security and earning staking rewards.

Conclusion

SUPRA coin is the native cryptocurrency of the SupraOracles decentralized oracle network, offering unique features and utilities within the ecosystem. Its role in transaction fees, rewards, governance, staking, and incentivization mechanisms ensures the network's efficient operation and community involvement.