What is Source Protocol – Blockchain Network for Web 3 (SOURCE)

Source Protocol is a versatile blockchain technology offering seamless integration and development of Web 3.0 applications. It serves as a comprehensive ecosystem, reshaping centralized web tools and financial instruments into decentralized solutions.

Essential information for their token is available on the MEXC Digital asset introduction page. Furthermore, we are listing (SOURCE/USDT – Trade it here) on the Innovation Zone! Check it out now!

What is Source Protocol - Blockchain Network for Web 3 (SOURCE)
What is Source Protocol – Blockchain Network for Web 3 (SOURCE)

What is Source Protocol Aiming to Do

Source Protocol is leading the charge in powering the future of Web3. They are building a robust ecosystem for limitless enterprise applications on a secure and sustainable global network. From DeFi white-labeled services to NFT markets, RWA tokenization, play-to-earn gaming, Internet of Things (IoT), data management, and beyond, Source Protocol is at the forefront of providing blockchain solutions to real-world challenges while leveraging the power of interoperability.

The SOURCE blockchain offers a quantum leap in performance and security for Web3 innovation compared to its predecessors. With lightning-fast transaction speeds and a scalable architecture, it surpasses the capabilities of Bitcoin and Ethereum, providing a platform that is both efficient and reliable.

Furthermore, the team is actively collaborating with enterprise businesses to create tailored blockchain solutions that harness the power of smart contracts, Inter-Blockchain Communication (IBC), and the Cosmos Ecosystem. This collaboration ensures that businesses can leverage blockchain technology to streamline operations, reduce costs, and unlock new growth opportunities.

Seamless Integration with Traditional Finance

Source Protocol’s backend infrastructure is also available for white-label integration with existing online banking and finance solutions. This enables more efficient servicing of the traditional finance industry. This integration bridges the gap between traditional and decentralized finance, offering a seamless transition for businesses looking to embrace blockchain technology.

Therefore, say goodbye to slow transactions, high fees, and limited scalability. Source Protocol is paving the way for the future of blockchain technology with its innovative solutions and commitment to driving real-world impact.

The Ecosystem of Source Protocol

Source Protocol is spearheading a comprehensive Web 3.0 ecosystem, comprising various integrated products. At its core is the SOURCE network (SOURCE), a scalable and interoperable Layer 1 blockchain constructed using the Cosmos SDK.

Ecosystem Components

  1. SOURCE Network (SOURCE): An efficient and scalable blockchain network facilitating the creation of apps, smart contracts, and tools for the Web 3.0 Economy. Developed with the Cosmos SDK, SOURCE boasts enterprise-grade security and supports CosmWasm and interoperable IBC Transfer capabilities.
  2. Native Applications:
    • Source Swap: An Interchain DEX & AMM enabling permission-less listing of SOURCE-based tokens, native Cosmos SDK assets, and cw20 tokens.
    • Source Market: A peer-to-peer, non-custodial platform for borrowing, lending, staking, and more, all powered by the SOURCE network.
    • Source X (SRCX): A BEP-20 token on Binance Smart Chain, driving liquidity and DeFi market participation with automated loyalty and yield rewards.
    • Source USX (USX): A CW-20 stablecoin backed and over-collateralized by blue-chip crypto assets and stablecoins, providing stability and security.
    • Source Launch Pad: Empowering projects to effortlessly distribute tokens and raise liquidity.
  3. Source One Card & Members Rewards Program: Earn rewards and benefits as a Source One Rewards member. In the future, connect your Source One Card to your DeFi wallet for real-time online and retail transactions.
  4. DeFi-as-a-Service (DaaS): Seamlessly integrate Source One Market, Source Swap, Source Launch Pad, and/or Source One Card with existing online banking and financial applications, offering customers a fully compliant, secure, and non-custodial decentralized banking experience.

Ecosystem Architecture

The Source One Market integrates additional blockchains like Ethereum, Solana, Polygon, and Avalanche. This ensures inclusivity and adaptability to evolving blockchain technologies. Designed to be a state-of-the-art DeFi experience, it will feature NFT interactions, Source token airdrops, promotions, and metaverse integrations, reflecting the dynamic nature of the blockchain landscape.

Staking SOURCE Tokens at The Ecosystem

Users of the ecosystem will have the opportunity to delegate or stake their SOURCE tokens to qualifying validator nodes using a Keplr wallet. Staking SOURCE plays a crucial role in maintaining the security and decentralization of the network.

Staking SOURCE involves a bonding period of 21 days. During this time, users’ staked tokens are locked in the network to support validator operations and secure the blockchain. Once SOURCE is delegated to a validator, users have the flexibility to re-delegate their tokens to another validator node at any time without breaking the bonding period. This feature enables users to adjust their staking preferences according to changing network dynamics or personal preferences.

If delegation is broken before the end of the bonding period, users will not receive staking rewards, and their holdings will remain illiquid until 21 days have passed. This mechanism incentivizes users to maintain their delegation commitments and contribute to network stability. Staking SOURCE tokens not only contributes to the security and decentralization of the network. It also enables users to actively participate in the governance and growth of the SOURCE ecosystem.

Where to buy SOURCE Token

You can find SOURCE Tokens here at MEXC! We are listing SOURCE/USDT in our Innovation Zone! Furthermore, you can receive 100% spot trading fee discounts while holding MX tokens. Get yours now!

What is the Price of SOURCE Tokens?

The SOURCE Token is currently trading at MEXC with a live price of $0.034. You can check the live price of their token right here!

How to buy SOURCE Tokens on MEXC

You can buy SOURCE Tokens on MEXC by following the steps:

  1. Log in to your MEXC account. Click on [Spot].
  2. Search “SOURCE” using the search bar to see the available trading pairs. Take SOURCE/USDT as an example.
  3. Scroll down and go to the [Spot] box. Enter the amount of SOURCE you want to buy. You can choose from opening a Limit order, a Market order, or a Stop-limit order. Take Market order as an example. Click [Buy SOURCE] to confirm your order. You will find the purchased SOURCE in your Spot Wallet.

You can find a detailed guide on how to buy SOURCE Tokens here.

Get Free Airdrops with MEXC Launchpad!

Did you know MEXC gives out 50+ free airdrops weekly? Launchpad and Kickstarter events ensure that all our loyal MX token HODLers receive a ton of new tokens! Learn all about it at our MX Zone now!

Meanwhile, check out all of the listings in the Innovation and Assessment zones as well as the major tokens in the Main Zone – we have more amazing projects to come! Visit the Hot Trending section as well to uncover more featured popular tokens. Lastly, feel free to visit MEXC Academy to learn more about cryptocurrency!

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Wilbur Kwok

Wilbur strives in two ecosystems – Sports and Blockchain. Hit him up now to talk about all things crypto related!

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Wilbur Kwok
Wilbur strives in two ecosystems – Sports and Blockchain. Hit him up now to talk about all things crypto related!