Meme coins are sweeping the crypto world, with hundredfold wealth generation effects continuously validating their status as the most dominant market narrative. As of the end of July 2025, the total market capitalization of the Meme sector has surpassed a historic peak of $84 billion, with a steep growth curve.
But prosperity hides cracks: CoinMarketCap data for Q2 2025 shows that the coverage of Meme coin derivatives is less than 3%, forming a stark contrast with the 92% penetration rate of derivatives for the top 100 mainstream coins by market capitalization.
How to convert the high volatility of Meme coins into an Alpha engine for ordinary retail investors? Superp provides the answer.
As the leading Perp DEX project on BSC, Superp supports up to 10,000x leverage and combines the experience of 'never getting liquidated', completely transforming users' perceptions of Meme derivatives trading, earning it the title of 'Meme version of Hyperliquid'.
Currently, Superp has accumulated over 6 million real users, with a total trading volume of 37.07 billion USD. According to platform DappBay and DeFiLlama, Superp ranks first in both active user count and transaction volume on the BSC chain, showing a clear leading advantage. On August 5, Superp's token SUP will officially be listed on Binance Alpha and multiple top-tier exchanges.
As on-chain derivatives inject Meme frenzy, volatility is tamed into a programmable yield engine, Superp, as a nascent platform, may be quietly creating a new paradigm.
1. Market pain points: Why do Meme players urgently need Superp?
The demand for derivatives in the Meme market is extremely strong. Some popular projects see intense short-selling sentiment but lack effective short-selling mechanisms.
For instance, in the past few months, Binance Alpha frequently launched various new Meme projects, which generally began to decline after their launch. However, there was a lack of derivative trading for new tokens at that time, making it nearly impossible for users to establish short positions at the initial stages of a project and gain certain market returns. This not only limits the diversity of trading strategies but also affects the overall efficiency of the market.
Why is there a gap in the Meme derivatives market on traditional trading platforms?
From the platform's perspective, the extreme volatility of Meme coins makes most exchanges hesitant. Popular Meme projects often see daily price fluctuations exceeding 100%, with hourly price changes sometimes reaching over 50%. This volatility also renders traditional derivatives risk control models ineffective, causing most mainstream exchanges to either completely refrain from offering Meme coin contract trading or to only provide products with extremely low leverage, which directly deprives users of the right to gain excess returns.
From the users' perspective, the 'point liquidation' curse also limits trading enthusiasm. Under the risk control mechanism of traditional contracts, users often get liquidated due to abnormal spikes when the Meme coin price starts to move, or they miss major market trends due to forced liquidation when profits get too high. This phenomenon of 'early liquidation' and 'forced liquidation' has become the biggest pain point for Meme traders.
These pain points have created a certain demand: how to achieve a leap in risk control and capital efficiency without sacrificing the high return potential of Meme coins?
To address the above issues, Superp has built a solution based on three technical pillars: NoLiquidation Perp (PSC) allows users to enjoy 10,000x leverage without ever getting liquidated, Meme Perps (TRS) enables instant short-selling features after the launch of Meme projects, and Alpha Perp provides specialized derivative solutions for quality projects listed on Binance.
Of course, to excel in crypto derivatives trading, one must engage in this field for the long term, accumulating professional knowledge and practical experience while understanding the unique rules of the crypto market. The core team members of Superp come from top exchanges, including senior experts who have worked at platforms like Huobi and HashKey, boasting over seven years of experience in CEX and DEX operations.
Starting in the second quarter of 2023, Superp was officially launched after three years of meticulous development. During this time, the project was selected for the 8th phase of the BNB Chain MVB Accelerator Program and received incubation support from CoinMarketCap, accumulating over $15 million in funding from top-tier institutions, led by well-known organizations such as UOB Venture, ABCDE Capital, Paper Ventures, Brooker Group, and including angel investors who are core founders of projects like Scroll, Step'N, and XAI.
With such a background and strength, Superp has a solid foundation to become the 'Meme version of Hyperliquid'.
2. Superp's triangular barriers construct a moat
Superp is a decentralized derivatives protocol built on the BNB Chain, practicing the concept of 'Meme Hyperliquid' through three core modules, expanding the application scenario boundaries of decentralized derivatives.
NoLiquidation Perp (PSC): Up to 10,000x leverage, never gets liquidated
NoLiquidation Perp is an innovative product under Superp, and its timed settlement mechanism completely decouples the relationship between leverage and risk, breaking the traditional perception that 'high leverage necessarily means high risk'. Users can enjoy up to 10,000x leveraged trading without worrying about liquidation risks.
Specifically, users can freely choose the expiration time of the contract, including multiple options such as 10 minutes, 1 hour, 24 hours, 48 hours, etc. It should be noted that the current version only offers a 10-minute expiration option to optimize user experience, facilitating quick responses to market conditions, but this is already sufficient for users to experience the product's core advantages.
Let’s understand this mechanism through a specific case: Suppose user Justin Sun is optimistic about ORDI's short-term trend and decides to open a long position when the price is $9.559, with an opening amount of 5,000 and an investment of 110 USDT, resulting in an actual leverage of 434 times. Within 10 minutes, ORDI rises by 10% to $10.5, yielding a net profit of (10.505-9.559)*5000-110 = 4620 USD, with a return rate of 42 times. Even if the ORDI price drops by 5% during the 10 minutes, Justin Sun will not be forcibly liquidated; but in traditional perpetual contracts, if ORDI's price drops more than 0.2%, he would be liquidated, and any subsequent increases would no longer concern him. Of course, within this 10-minute effective period, he can also close his position early to lock in profits.
Through the above example, the core advantage of the NoLiquidation Perp mechanism is:
· No liquidation risk: Users will never be forcibly liquidated due to price fluctuations;
· High capital efficiency: Maximum leverage of 10,000x allows small funds to leverage big returns;
· No slippage impact: The timed settlement mechanism avoids the slippage issues of traditional AMMs, improves pricing transparency, and ensures that users can execute trades at precise quoted prices without being affected by market liquidity fluctuations.
· No trading fees: The platform does not charge any extra fees, ensuring that users only pay the fixed cost of the product itself, without any hidden fees or additional costs, thereby simplifying the trading process and reducing costs.
Currently, NoLiquidation Perp supports trading for 40 mainstream coins, covering major coins like ETC, LTC, BCH, as well as popular blue-chip meme coins such as BONK, SATS, PEOPLE, and RATS. The platform’s settlement fee is set at 10% of the profits, but at the current stage, Superp is waiving settlement fees for a limited time, with future charges to be dynamically adjusted according to market conditions.
Meme Perp (TRS): Extreme shorting, capturing every Alpha opportunity
Meme Perps (TRS) have realized an industry-first function: supporting short-selling trades within 10 minutes after the launch of a Meme coin project, providing users with great strategic flexibility.
In the traditional Meme coin ecosystem, users often can only buy in spot after a project is released, and even if they suspect that the project has issues or that the price is overestimated, they cannot establish short positions in a timely manner to hedge. The emergence of Meme Perp fills this gap, allowing professional traders to implement complete trading strategies at the first moment of a project's launch.
In terms of specific implementation paths, like Hyperliquid, Superp's Meme Perp also requires users to stake Meme tokens to provide liquidity (i.e., become LPs). Users will stake assets into the TRS liquidity pool and earn profits from the fees generated by leveraged traders—if there are remaining funds after a leveraged user is liquidated, they will be transferred to the staking pool as earnings for stakers. Once users provide liquidity by staking, other traders can use stablecoins and other assets to borrow from the TRS liquidity pool by paying a dynamic interest rate to open long or short positions.
In March of this year, whales exploited a liquidity loophole to manipulate the price of the JELLY token through self-dealing, resulting in Hyperliquid's market-making treasury HLP nearing zero, ultimately forcing a manual freeze of the price and compensation for users. This centralized intervention to salvage a decentralized failure exposed structural flaws in the industry.
Superp has learned from the lessons of the risks that Hyperliquid LP faced due to past incidents, making multiple key improvements:
The first is the position limit mechanism. Superp has strictly limited the maximum position for individual users, avoiding systemic risks posed by extreme operations from whale users. Additionally, the platform implements a dynamic position adjustment mechanism that adjusts the maximum allowable position size in real-time based on market volatility.
Secondly, there is an optimization of leveraged trading. Unlike the high-risk characteristics of pure index derivatives, Superp adopts a more conservative and stable leveraged trading model, offering a maximum leverage of 10x, with specific multiples dynamically adjusted according to the volatility of the underlying assets; through sophisticated risk control algorithms, it ensures system stability while providing high leverage.
Simply put, the biggest advantage of leveraged trading is that each position is a real buy and sell, rather than purely relying on index-based derivatives trading. This will also make prices more aligned with actual spot performance, avoiding situations where contract trading sometimes has inverted prices compared to spot and derivatives.
Additionally, there is a more comprehensive liquidation design, employing an automatic liquidation system to protect lenders and maintain protocol stability. Furthermore, it combines real-time verification of liquidation conditions with smart contracts; if conditions are not met (for example, due to abnormal market fluctuations or oracle delays), liquidation will automatically stop to prevent unfair liquidation. This mechanism ensures that traders do not suffer unfair or excessive liquidation during market volatility. Simply put, if a whale manipulates the price, causing a severe deviation between the platform's price and the spot prices in other markets, it will not lead to the liquidation of user positions, thus ensuring the safety of LP assets on the Superp platform and avoiding a repeat of the Hyperliquid tragedy.
According to the official plan, the selection of tokens for Superp's Meme Perp at the initial launch is primarily based on the project's market popularity and liquidity; in the future, users will be allowed to spontaneously create liquidity pools for any project and list trading pairs.
Alpha Perp: Specialized derivative solutions for quality projects
Alpha Perp is designed specifically for Alpha tokens listed on Binance, and only the most promising assets can be selected. These tokens typically have better fundamentals and more stable liquidity, providing professional investors with a relatively low-risk and high-efficiency trading environment.
Compared to Meme Perp, Alpha Perp's core logic is roughly the same, except that the latter introduces stricter risk controls, more precise asset selection, and more comprehensive incentive mechanisms. Each listed Meme token has different LTV ratios, interest caps, and liquidation tolerances. Specific comparisons can be referred to in the table.
‘Our goal is to provide a safer and more robust environment for Meme coin speculation while maintaining the fun and viral nature of the Meme coin ecosystem,’ the official documentation states.
Through the organic combination of three major products, Superp has built a complete trading ecosystem for Meme coin derivatives. Whether one is a retail investor seeking extreme leverage experiences or a professional trader requiring precise risk control, they can find suitable products and strategies on the Superp platform. This is precisely the message Superp aims to convey: not only to provide an exceptional trading experience but to ensure that this experience is safe and sustainable.
3. Ecological explosion engine: Token economy and growth flywheel
The quality of the token economics design often determines the long-term development potential of a project. Superp demonstrates profound strategic thinking in the design of the SUP token, especially in terms of airdrop allocation and liquidity management, building a sustainable growth flywheel for the project.
Well-designed token allocation mechanism
The total supply of the SUP token is set at 1 billion, and the distribution plan reflects the team's emphasis on community building and long-term development. The specific allocation ratios are: team 10%, advisors 3.4%, liquidity 5%, airdrop 5%, investors 16.7%, community treasury 35%, market 6%, ecosystem 19%.
The highlight of this distribution plan is its tilt towards the community. The community treasury accounts for the largest share of 35%, and this portion of tokens will be used to incentivize community building, ecological development, and user growth; combined with a 5% direct airdrop distribution, the proportion of community-related tokens reaches 40%, which is quite generous in current DeFi projects.
Notably, the 5% airdrop allocation may seem low, but considering Superp's positioning as 'Meme Hyperliquid' and its vast market potential, this 5% airdrop is likely to generate significant wealth effects. Referencing Hyperliquid's airdrop performance, early users received an average airdrop value exceeding $30,000, and Superp's advantages in product innovation and market positioning are expected to yield even greater airdrop value.
Strategic considerations for TGE design
At the token generation event (TGE), Superp chose a relatively conservative liquidity release strategy. The initial circulating supply accounts for only 17.5% of the total supply, specifically including: 5% liquidity, 2% airdrop, 2% marketing, and 8.5% ecosystem building. This means that over 80% of the tokens will be locked during TGE, which has multiple strategic values.
Firstly, a low initial circulation helps reduce selling pressure at launch, providing better support for token prices. In the current market environment, many projects experience severe price drops after launch due to excessive initial circulation, and Superp's design effectively avoids this risk.
Additionally, the locking design of most tokens reflects the team's confidence in the long-term development of the project. The token lock-up period for teams and investors usually lasts several years, enhancing market confidence in the project’s long-term value.
Finally, the gradual token release strategy helps maintain the token's scarcity, creating better value assurance for long-term holders.
Pre-TGE activities: Innovative practices of the zero-risk trading competition
To allow more users to experience Superp's innovative products and gain airdrop opportunities, the platform has launched the Pre-TGE zero-risk trading competition. This activity is expected to officially start on July 30 at 10 AM UTC, serving as an important warm-up before TGE.
The core highlight of the activity is that every user can receive 1,000 USDT in test funds—users can connect their wallets and follow the link to Twitter to claim test tokens for experiencing NoLiquidation Perp products. It is essential to emphasize that users' trading during the event will not incur real financial losses, eliminating the psychological barriers for new users trying high-leverage products, and allowing them to deeply experience Superp's product features in a zero-risk environment.
The activity's reward mechanism is based on users' profit rankings, and outstanding users will receive more airdrop rewards at TGE. This design not only effectively screens the platform's core users but also provides substantial incentives for these users. Experienced traders can gain more airdrop allocation by showcasing their trading skills.
From community feedback, this zero-risk trading competition model has been widely welcomed, with numerous leading crypto KOLs actively sharing and engaging.
4. Future development prospects of Superp: Crushing competitors and data endorsement
As the leading Perp DEX on the BNB chain, Superp has shown remarkable development momentum in a short period. Through comparative analysis of the development trajectories and valuation levels of similar projects, we can understand Superp's market position and future potential more clearly.
Data performance: Strong growth momentum
Although Superp is still in the early stages of development, the data performance so far indicates that the project is showing strong growth momentum.
In the third quarter of 2023, Superp's predecessor, Vanilla Finance, was officially launched in South Korea, quickly surpassing a trading volume of $3 billion; in the second quarter of 2024, during the first 30 days of its launch on Scroll and Bitlayer, the trading volume reached $1 billion, with on-chain users reaching 70,000; in the fourth quarter of 2024, within 30 days of its launch on Telegram, the trading volume reached $10 billion, with users reaching 3 million.
Currently, Superp has accumulated over 6 million real users, with a total trading volume of 37.07 billion USD. According to platform DappBay and DeFiLlama, Superp ranks first in both active user count and transaction volume on the BSC chain, showing a clear leading advantage. Especially after the launch of the Pre-TGE trading competition activity, user registrations have also seen significant growth, with daily new user numbers hitting record highs.
From a security perspective, Superp's smart contracts have been audited by several well-known security auditing firms, with the code's security and system stability fully validated. The platform's response speed and transaction execution efficiency have also reached industry-leading levels, providing users with a smooth trading experience.
In terms of partnerships, Superp has established strategic collaborations with several leading projects, including mainstream DeFi protocols, data service providers, and wallet service providers. These partnerships provide important support for Superp's ecosystem building and user growth.
Competitive comparison: clear differential advantages
In the field of on-chain derivatives trading, Hyperliquid is undoubtedly the benchmark project. Since its launch in 2023, Hyperliquid has seen a cumulative trading volume exceeding $200 billion, and its token HYPE reached a peak market capitalization of nearly $20 billion. However, Superp has multiple differentiated advantages compared to Hyperliquid.
First is the product innovation level. Hyperliquid primarily focuses on traditional perpetual contract trading, while Superp's NoLiquidation Perp achieves true 'never getting liquidated', which is a breakthrough innovation both in terms of technical implementation and user experience. In particular, the combination of 10,000x leverage with zero liquidation risk offers an unprecedented trading experience for high-risk tolerant traders.
Secondly, there is a difference in market positioning. Hyperliquid focuses more on professional traders and institutional users, while Superp's differentiated positioning as 'Meme Hyperliquid' better meets the current market's immense demand for Meme coin trading. Considering the explosive growth of the Meme sector over the past two years, this differentiated positioning is expected to bring Superp a larger user base and market space.
From a valuation perspective, referencing the market performance of similar projects, Superp has immense potential for growth. Taking Hyperliquid as an example, it achieved a valuation of billions of dollars without a formal token, and after the token launch, it reached a peak market capitalization of nearly 20 billion USD.
Considering Superp's advantages in product innovation, market positioning, and ecosystem building, along with the rapid development trend of the BNB chain ecosystem, the project's theoretical valuation ceiling is quite considerable. Particularly, with the continuous prosperity of the Meme coin market and the growing demand for on-chain derivatives trading, the positioning of 'Meme Hyperliquid' is expected to bring Superp excessive market premiums.
Future roadmap: Ecological expansion and functionality enhancement
According to the development roadmap published by Superp, the project will achieve several important milestones in the coming quarters.
In the short term, the platform will complete support for more mainstream coins, adding more trading pairs for NoLiquidation Perp, Meme Perp, and Alpha Perp, covering more popular Meme coins, RWA assets, and AI tokens. Additionally, Superp will integrate Solana and upgrade its recommendation system to provide a smoother experience and more generous referral commissions.
In the medium term, Superp plans to launch more innovative trading products, including the first leveraged crypto stock products, supporting long and short positions on RWA assets like xStocks and Roobinhood; launching standard perpetual products to create the most comprehensive perpetual contract platform on-chain. The introduction of these products will further solidify Superp's leading position in the on-chain derivatives trading field.
In the future, Superp will also launch liquidity mining activities, where market makers and liquidity providers will earn SUP rewards based on their contributions to trading depth and volume; implement DAO governance, and publish token burn or buyback plans.
Conclusion: Reconstructing the Meme trading paradigm
Superp, as the 'Meme version of Hyperliquid', completely reshapes the on-chain Meme derivatives trading paradigm through three major innovative products. With its unique risk control model and on-chain infrastructure, Superp not only addresses the lack of derivatives due to the extreme volatility of Meme coins faced by traditional exchanges but also transforms risk into an Alpha engine. As the leading Perp DEX on the BNB chain, Superp is expected to establish dominance in the $84 billion market for Meme coins, ushering in a new era for on-chain derivatives.
This article is submitted and does not represent BlockBeats' views.
