SUPERALGOS PROJECT

Sponsoring the Superalgos Project

This is how you may support the project when you can’t contribute work!

Photo by Nick Fewings on Unsplash

What is Superalgos

Superalgos is not a startup, is not a typical open-source project, and is not a regular crypto project either!

Superalgos is a community-owned open-source project that incentivizes contributions with its native crypto token. It’s a crypto-enhanced open-source project.

The crypto element makes the project more attractive to potential open-source contributors as it turns them into partners in a venture and aligns everyone’s interests in the same direction.

The project does not sell tokens. Instead, it distributes them exclusively among contributors in reward for value created. The native token is primarily an incentive to contribute to the open-source project. In terms of utility, token holders may participate in governance and are entitled to access premium community products and services.

This token distribution framework puts the project and the token in a space removed from securities laws and regulations. It makes the project resilient and sustainable, as we don’t need to deal with the compliance requirements and legal risks associated with ICOs and other forms of public token sales.

The distribution model is also at the core of the positive feedback loop that turns the project into a self-improving organism. I described the design of incentives in a recent article about Open Startups and Collective Business Models in Open Source.

The project doesn’t have a legal entity behind it either. So far, it hasn’t been necessary. As a project, we don’t have any commercial activity or liabilities that would make a legal person desirable.

Superalgos publishes free and open-source software under the Apache License 2.0, a permissive license that regulates the relationship among contributors, limits their liabilities towards users, and assigns all responsibilities regarding the use and redistribution of the software to the end user.

The open community of contributors runs the project. In terms of governance, there are two main assets/activities that the community controls:

  • The repository holding the project’s IP: the community maintains the repository using typical open-source workflows and following established best practices.
  • The distribution of the token: the governance system built into the Superalgos Platform provides a distributed, off-chain infrastructure that enables the community to decide how to distribute the fixed monthly budget of token rewards.

The community of contributors bootstrapped the project until the launch of the platform and beyond. As a development force, Superalgos has zero overheads. There are no salaries and no infrastructure requiring central management. Instead, all contributions are voluntary, and volunteers maintain the minimal common infrastructure too.

Sponsoring Superalgos

Not everyone has the time to contribute work. If that is your case, you can still make a valuable contribution by buying the Superalgos $SA Token.

Remember that there is no central entity selling tokens. Instead, tokens flow from the treasury account to the wallets of contributors upon each monthly distribution event in reward for the value each of them created during that period.

That is why buying the token is a great way to contribute too! When you do, you are effectively supporting the people that contribute work!

To make things easier for sponsors, contributors set up liquidity pools in decentralized exchanges like PancakeSwap or 1Inch. That way, you may get a hold of some tokens in a trustless manner, anywhere in the world, at any time.

At this early stage, the liquidity available in the pools is limited, as is provided by contributors. Buying the token from these decentralized markets is perfect for purchases up to tens of thousands of dollars.

For larger purchases, you may want to engage the community of contributors and buy tokens over the counter. We have arranged an OTC desk to source tokens from multiple contributors so that enough are available at any point. If interested, get in touch via the contact form on the website.

Participate While You Hold!

Once you get a hold of some tokens, you may start participating in various governance programs. Taking part in governance is considered a contribution in and of itself, as we must distribute the task among a large group of contributors with skin in the game. You may earn some more tokens for that sort of contribution too!

In addition, you may choose to provide liquidity to the existing liquidity pools or create new ones. Providing liquidity is rewarded with tokens too. There is a specific pool of token rewards allocated to liquidity providers every month!

And of course, as a token holder, you may access premium community products and services!

For instance, you may follow the bots of seasoned users in the community to copy their trades automatically, and access the predictions provided by the machine learning models the community trains in a collective effort.

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Julian Molina

Julian Molina

I’m a lifelong entrepreneur and co-founder of Superalgos.org, an open-source project crowdsourcing superpowers for retail traders.