LBank Exchange, a global digital asset trading platform, will list the Source Token (SRCX) on June 10, 2022. For all users of the LBank exchange, the SRCX/USDT trading pair will be officially available for trading at 20:00 (UTC+8). ) on 10 June 2022.
As a global DeFinTech firm, the ecosystem of Source Protocol has been developed to play an integral role in powering the Web3 economy and beyond.
Equipped with a full DeFi suite for lending, borrowing, earning and betting, various enterprise integration solutions, and much more, Source gives its users and institutional clients seamless access to next-generation finance.
Its native utility token, Source Token (SRCX), will be listed on the ElBank exchange at 20:00 (UTC+8) on June 10, 2022, to further increase the global reach of the Source protocol and achieve its vision. be able to help.
Introduction to Source Protocols
Source Protocol is a multi-chain and interoperable DeFinTech ecosystem designed for retail users and enterprises alike to easily adopt and implement the latest advances in Web3 fintech.
The protocol is composed of a “toolbox” where users can easily access the best DeFi offers – such as lending, lending, staking, liquidity pooling, and more – in a seamless hub committed to security, solvency, and stability. .
The Source team has a combined 35 years of experience in blockchain technology and the cryptocurrency market, and its founders have been active in this area since 2013.
With a team of experienced finance professionals, developers and dfintech experts, SOURCE is dedicated to promoting financial sovereignty by making traditional financial services accessible, efficient and private.
SOURCE is committed to manufacturing, integrating and implementing the most efficient, compatible and adaptable technology as it evolves over time.
With a vision to create an ever-evolving and all-encompassing Defintech solution, Source is creating an ecosystem to foster unlimited DeFi participation from all corners of the market.
About SRCX Token
SRCX is the first product of several that will be released by Source Protocol during 2022. It is a smart contract utility token with a built-in automation fee that is used for passive participation in DeFi within the Source marketplace.
Automation fees are used to produce two types of rewards, loyalty echoes and yield echoes. Loyalty echoes are generated with every transaction on the network. A transaction echo occurs when a purchase, sale or transfer is initiated.
Yield echoes are created by an automated DeFi process that is integrated into the Source marketplace.
Source Marketplace is a peer-to-peer lending and borrowing platform that allows users to participate in multi-level DeFi processes using smart contracts that allow them to maintain full custody of their assets.
The automation feature makes it easy to access the DeFi yield of the Source marketplace by simply holding the SRCX token. This allows anyone, regardless of crypto expertise, to benefit from complex DeFi processes.
The automation fees that make SRCX Eco Rewards possible will be algorithmically reduced as the transaction volume on the network increases and reaches various milestones. SRCX also has a deflationary burn mechanism that sends tokens to a dead wallet (no private keys) for each transaction.
The burn function can be turned off during the promotion which then increases the Eco Rewards for all holders. Echo Rewards is only supported for wallets holding SRCX on Binance Smart Chain.
Centralized exchanges will not have support for automation fees and therefore may not contribute or benefit from automated DeFi processes.
As SRCX is the first utility token to be launched from the Source Protocol ecosystem, it will give all holders the opportunity to position themselves for future Source airdrops.
One of the most innovative aspects of SRCX is that it is designed to accumulate solvent value backing. A portion of each automation fee is sent to a self-compounding liquidity pool within the Source Marketplace that grows continuously in trusted stablecoin assets such as USDC.
This results in the continuous accumulation of SRCX’s Solvent Value Backing which is audited live and can be verified on the blockchain.
Overall, SRCX is a highly rewarding and dynamic automated DeFi token, the first of its kind to receive multi-award from automated DeFi processes, a deflationary burn mechanism, solvent development support, and a self-adjusting transaction fee.
Based on BEP-20, the total supply of SRCX is 500 million (ie, 500,000,000) tokens. 40% of the total supply was burned at origin, leaving the remaining circulating supply at 300,000,000.
It will be listed on the LBank exchange on June 10, 2022 at 20:00 (UTC+8), until then investors who are interested in the Source Protocol investment can easily buy and sell SRCX on the LBank exchange.
The listing of the SRCX token on the LBank exchange will undoubtedly help it further expand its business and attract more market attention.
About ElBank Exchange
ElBank Exchange, established in 2015, is an innovative global trading platform for various crypto assets. ElBank Exchange offers its users secure crypto trading, exclusive financial derivatives and professional asset management services.
It has become one of the most popular and trusted crypto trading platforms with over seven million users now in over 210 regions around the world.
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