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Supra

Supra is a cross-chain IntraLayer protocol enabling automation across Web2 and Web3 via secure and scalable smart contract interoperability. This network is powered by the $SUPRA token, which is the denominated measure for the exchange of value and services on the network, and the primary tool for harmonising heterogeneous incentives of participants. ^[1]^[2]^[3]

Overview

Supra is a decentralized oracle network designed to fetch and deliver on and off-chain data to smart contracts on various blockchain platforms. ^[1]^[2]

Unlike traditional oracles that rely on a single source of data, Supra Oracle leverages a decentralized network of validators to verify and validate data before it is transmitted to smart contracts. This distributed approach enhances the security, reliability, and tamper-resistance of the network, mitigating the risks associated with centralized points of failure. ^[4]

Web3 needs faster, more secure, more decentralized blockchain infrastructure. That’s what we’re building. With 5+ years of R&D and a series of technical breakthroughs, we’re building native cross-chain solutions to help your smart contracts and blockchain apps work better. - it says on LinkedIn^[2]

Supra Labs, Inc. is the product arm led and advised by some of enterprise blockchain’s most notable figures. This SaaS unit is focused on the application of the SupraOracles technology within traditional finance and data services. ^[7]

Use Cases

Decentralized Finance (DeFi): Providing price feeds, asset valuations, and other financial data to DeFi protocols such as decentralized exchanges (DEXs), lending platforms, and derivatives markets.
Supply Chain Management: Enhancing supply chain transparency and traceability by verifying and validating data related to product shipments, inventory levels, and manufacturing processes.
Insurance: Offering real-time weather data, flight information, and other relevant data for insurance contracts and claims processing.
Gaming and NFTs: Facilitating the integration of real-world events, sports scores, and gaming outcomes into non-fungible tokens (NFTs) and blockchain-based games.
Identity Verification: It enhances security and privacy by authorizing access to dApps and sensitive documents through verified decentralized identifiers (DIDs). ^[4]

$SUPRA Token

$SUPRA is the denominated measure for the exchange of value and services on the Supra network, and the primary tool for harmonising heterogeneous incentives of participants. ^[5]^[6]

This asset is employed as:

a staking token, fortifying the network’s economic security guarantees;
a work token, bestowing the right upon its owners to contribute work to a decentralised network;
a gas fee coin, facilitating transactions within the network;
a subscription coin, granting access to discounted service prices;
a data access coin, unlocking valuable insights;
a governance token, empowering the community with decision-making capabilities. ^[6]