Source Protocol – an up-and-coming smartchain and interoperable DeFi ecosystem – has set out to lower the barriers of entry to this new financial landscape through its suite of products and automated protocols that allows users from all walks of life to easily participate in DeFi. In this pursuit, Source is preparing to launch its first utility-based reward token, Source Token (SRCX); a smart contract token that enables users to passively participate in DeFi markets. SRCX Yield Echoes and the Dynamic Compound Liquidity Pool (DCLP) Launching on Binance Smart Chain, the world’s largest crypto network by volume, Source Token utilizes a built-in automation fee that sends a percentage of every transaction to Source’s Dynamic Compound Liquidity Pool (DCLP), a basket of stablecoin liquidity positions within Source’s decentralized money market, Source Marketplace, where users can lend, borrow, stake, and yield farm with their crypto assets. Rewards, called “Yield Echoes,” derived from these interest-bearing liquidity positions are then automatically redistributed to Source Token holders and network participants, enabling them to reap all of DeFi’s benefits without having to participate themselves. SRCX Loyalty Echoes In addition to Yield Echoes, SRCX holders and users also benefit from “Loyalty Echoes,” which are generated block-by-block, with every transaction that takes place on the Source Token network. Enabled by the same au...
What Happened In Crypto This Week?
