What Is Source Token (SRCX)?
Source Token Protocol is a multi-chain and interoperable DeFi ecosystem with automated protocols designed for users to easily borrow against their crypto assets and generate passive earnings from lending, staking, liquidity pooling, and more. The protocol is composed of a “DeFi Toolbox” where users can conveniently access the best that DeFi has to offer in one seamless hub committed to interoperability, security, solvency and sustainability.
Users of the Source ecosystem and feature sets benefit from competitively low fees on digital asset loans, high interest rates on lending and staking, a uniquely large variety of compatible chains and assets, and a safe, secure transactional environment. Source is creating an ecosystem to fuel unlimited DeFi participation from all corners of the market.
| Coin Basic | Information |
|---|---|
| Coin Name | Source Token |
| Short Name | SRCX |
| Max Supply | 500,000,000 |
| Total Supply | 500,000,000 |
| Source Code | Click Here To View Source Code |
| Explorers | Click Here To View Explorers |
| Twitter Page | Click Here To Visit Twitter Group |
| Whitepaper | Click Here To View |
| Support | 24/7 |
| Official Project Website | Click Here To Visit Project Website |
THE WEB3 ECONOMY
Source Protocol’s Ecosystem is backed by the Dynamic Compound Liquidity Pool (DCLP), a mechanism designed to achieve solvent growth and sustainability through automated liquidity acquisition.
Approach
Source Protocol is launching a comprehensive DeFi ecosystem composed of several cohesive products across multiple chains, starting with Binance Smart Chain (BSC) and the Cosmos HUB. The purpose of being broad spectrum and chain friendly is to establish a position in high volume networks and allow larger swaths of liquidity to be bridged and interoperable within a single, non-custodial DeFi Marketplace application. Below is the initial multi-chain structure of Source’s ecosystem.
Source + Binance Smart Chain
Source One Market and Tokens (bep-20 smart contracts)
- Source Token – $SRCX – Automated liquidity acquisition and DeFi market participation token
- Source One – $SRC1 – Source One Market governance and incentivized earnings token
- Source USX – $USX – Stablecoin pegged 1:1 with USD, backed by Source Marketplace assets
- Source Procxss – $PRSX – merchant processing token for fiat on-boarding, spending, & more
Source + Cosmos IBC
Source Smart Chain, Marketplace and Tokens (cw-20 smart contracts)
- Source – $SOURCE (Cosmos SDK blockchain) – POS smartchain with IBCcapability built on Cosmos SDK Hub
- Thermo – $TMX (cw-20 wasm smart contract) – burn and lotto reward token
- Dyna – $DYNAX (cw-20 wasm smart contract) – low circ supply store of value token rewarded to Source blockchain participants
Vision
Despite the challenges, Source embraces the evolution and benefits of various blockchain technologies to date. The team’s vision is to create a continuously evolving and all-encompassing DeFi solution that unites state of the art technologies in a multi-chain, interoperable and automated ecosystem fit for beginners and experts alike.
Currently, fast transaction speeds, minimal gas fees, scalability, interoperability, ease of use, solvency, passive yields/rewards, NFT/Metaverse use-cases, and sustainable growth are the cornerstones that guide the systems and strategies behind Source Protocol. As the DeFi space grows and matures, Source’s focus will remain on value creation design for community and users, ensuring superior economic incentives and features are a high priority.
As a team of experienced finance professionals, developers and DeFi experts, we are dedicated to fostering financial sovereignty by utilizing the power of DeFi to make traditional financial services accessible, efficient and private. Together we’re building a new protocol for reliable DeFi lending, borrowing, earning and more, to support the next generation of individuals and institutions with complete ownership and control over their finances.
Source Token – $SRCX
$SRCX is Source Protocol’s first automated liquidity acquisition and DeFi market participation utility offering. It will launch on Binance Smart Chain (BSC). BSC accounts for a range of 90-140 billion USD in 24hr trading volume, according to data from CoinMarketCap.com, as of April 2022. It is the transaction volume, reputation, speed, and affordable network fees that make BSC a great starting point for developing Source One Market and a smart utility token such as $SRCX.
This, in conjunction with development of Source’s proprietary layer 1 smart chain, Source Chain ($SOURCE), a Cosmos SDK chain with cosmwasm smart contract capabilities, will form the foundation of the Source Protocol ecosystem. The high volume network of BSC combined with the IBC capabilities and interoperability of the Cosmos interchain (a network of blockchains) will provide necessary architecture for the Source ecosystem to build from.
Automation Fee
The automation fee is used by the $SRCX smart contract to provide an automated DeFi participation service. The service is performed by the smart contract that is integrated with the DeFi capabilities of the Source One Market. The automation fee allows holders of $SRCX to passively participate in DeFi concepts such as collateralized lending, and yield farming, by simply holding $SRCX. Source Protocol Ltd is non-custodial and the participation and yields are all determined by the peer to peer activity (network supply/demand and volume) and the community governance of the Source One Market (interest bearing assets and supply/borrow rates).
