Source Protocol

1. Summary

Ranks

Liquidity

-

Developer

-

Social

68

Momentum (beta)

0

Stack Rank™

-

Price

$0.007883920000 0.0%

Market Cap

$2.31M (#2827)

Supply

/

Tags

Binance Smart Chain Ecosystem BNB Chain Ecosystem

More Metrics

Price
52W High price	$0.01
52W High date	12th Jan 2024 (1 year ago)
All Time High (ATH) Date	13th Oct 2024 (3 months ago)
All Time Low (ATL) Date	13th Oct 2024 (3 months ago)

Supply & Trading Volume
Trading Volume (24h)	$15,188.00

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Description

Overview

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Overview

Source Protocol is a blockchain technology suite designed to facilitate easy integration and use of blockchain solutions, increasing the adoption of the technology. It includes a comprehensive ecosystem with a focus on interoperability and liquidity. The primary components of the Source Protocol include the Source One Market, the Source Token (SRCX), and the Source Chain (SOURCE).

Key Features

• Source One Market: This is the user interface for the platform, allowing users to engage with decentralized financial markets (DeFi) with minimal technical expertise.
• Source Token (SRCX): An automated liquidity acquisition and DeFi market participation utility token with a built-in automation fee. The fee is used to send a percentage of each transaction to stablecoin liquidity positions within the Source One Market.
• Source Chain (SOURCE): A layer 1, proof-of-stake blockchain based on the Cosmos Hub IBC ecosystem. It supports interoperable transactions with other Cosmos Hub blockchains and features a developer-friendly platform with high scalability and low gas fees.

Automation Fee and Liquidity Pool

The automation fee sends a percentage of each transaction to liquidity positions within the Source One Market, promoting liquidity and fostering a dynamic ecosystem. The fee is currently set at 6%, broken down into several components:

• 1% Dynamic Compounding Liquidity Pool (DCLP) acquisition
• 3% tx fee redistributed to token holders
• 1% liquidity fee for the liquidity pool
• 1% for BNB Liquidity Pool Acquisition

Security and Governance

Source Protocol emphasizes security through various methods, including guarding validator nodes, on-chain governance, and third-party audits for smart contract security.

Use Cases and Applications

Source Protocol is intended for a broader range of users, including beginners, enterprises, and developers. It offers tools for building web3 applications, deploying and managing DeFi apps, creating NFT markets, tokenizing real-world assets (RWAs), and more.

Interoperability and Scalability

Interoperability is achieved through the Cosmos Ecosystem (Interchain), allowing for transactions between different blockchain networks. The Source Protocol offers low gas fees and high-speed transaction finality.

Conclusion

Source Protocol is a comprehensive blockchain technology ecosystem aimed at enhancing mass adoption by simplifying access and use, while maintaining robust security and scalability features. It includes a user-friendly interface, a utility token (SRCX), and a scalable blockchain (SOURCE), all designed to integrate and support diverse applications within the web3 ecosystem.

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