Source TokenSource Token price SRCX
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Source Token statistics
- Market cap
- Volume (24h)
- Volume/Market cap (24h)
- Self-reported circulating supply
- 294,869,874 SRCX
- Total supply
- 294,869,874 SRCX
- Max. supply
- 500,000,000 SRCX
- Fully diluted market cap
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About Source Token
What Is Source Token (SRCX)? Source Token (SRCX) is Source Protocol’s first automated liquidity acquisition and DeFi market participation token built on Binance Smart Chain. Engineered to drive solvency and self-sustainability, SRCX rewards participants by-the-block with automated Loyalty and Yield Echoes. SRCX's liquidity acquisition and reward distribution functions are automatically executed by the SRCX smart contract. As transaction volume increases, network fees will be automatically reduced at various milestones to incentivize even greater volume.
Dual-reward incentives for SRCX users, solvent growth mechanisms, and a deflationary function that burns tokens with every transaction, are all built into the independently-audited smart contract behind SRCX’s brilliant architecture. These functions provide SRCX with a progressive system that supports itself and its users with perpetually increasing liquidity, a decreasing token supply and block-by-block network rewards populated automatically into user’s wallets. Combined, these features create a tremendously attractive value proposition for SRCX that outperforms its predecessors by every standard.
Who Are the Founders of Source? Source’s founding team is comprised of 6 people, including Ben Gunn (CEO), Paul Regalado (EDRD), Walter Mello (CFO), Cory Clinton (CTO), Jack Karger (CSO), and Jesse Darnell (CBDO). The Source Protocol team has former employees of Black Rock, Fidelity, Armis Security and Core Network Technologies, with over 30 years combined experience in crypto and blockchain tech, as well as over 20 years in traditional finance.
What Makes Source Token (SRCX) unique? Developed by the Source Protocol Ltd team, SRCX is a rewards-based global transaction network supported by automated liquidity capture mechanisms to ensure solvent growth with every transaction. In addition to its sustainable design, SRCX users benefit from earning automated DeFi rewards called “Echoes,” without having to participate in any complex DeFi processes themselves.
Fair-launched to the Binance Smart Chain early June of this year, SRCX has already garnered over 2000 users and listed on 8 exchanges as the community continues to grow. Dual-reward incentives for SRCX users, solvent growth mechanisms, and a deflationary function that burns tokens with every transaction, are all built into the independently-audited smart contract behind SRCX’s brilliant architecture. These functions provide SRCX with a progressive system that supports itself and its users with perpetually increasing liquidity, a decreasing token supply and block-by-block network rewards populated automatically into user’s wallets. Combined, these features create a tremendously attractive value proposition for SRCX that outperforms its predecessors by every standard.
The Source Protocol team also has plans to integrate SRCX into Source Protocol’s peer-to-peer, non-custodial DeFi marketplace (Source One Marketplace), where it can be supplied, borrowed and collateralized against. Not only does this increase utility for users, it also allows for more tokens to be removed from circulation as users supply it for collateral. This creates an additional deflationary economic factor. The Source Marketplace is currently in full beta testing and will be deployed to the Binance Smart Chain in the coming months.
In addition to the above, SRCX’s deflationary mechanism can also be disabled at times of promotion. This temporarily re-routes tokens from being sent to the burn wallet (where they are removed from circulating supply) and sends them to all SRCX users instead, increasing reward distribution to the community. Disabling the burn function is done randomly so it cannot be gamed, and is designed to incentivise more rewards and attract more users.
As part of the developers' vision and commitment to SRCX’s success, their focus will remain on adoption and acceptance of SRCX by the crypto community and enterprises alike, while retaining its role as the top sustainable DeFi reward token. In addition, the Source Protocol community will have access to a Source Members Rewards program that includes further incentives and benefits like exclusive access to Source NFT mints, Source partner discount programs, events, and more. The Source team will continue to list SRCX on an increasing number of high volume exchanges in the coming months. This will bring more awareness to the project globally.
How Many Source Token (SRCX) Coins Are There in Circulation? Source Protocol’s white paper describes the following: a total supply of 500,000,000, with 200,000,000 burned at genesis, and a fair launch supply of 300,000,000.
Source Token (SRCX)’s protocol, according to the white paper, incurs a fee on every transaction to provide an automated DeFi participation service to its users. At genesis, the levy will start at 10% of all transactions, and is broken down into 3 parts within the SRCX smart contract. 6% is contributed to Source’s Dynamic Liquidity Pool Acquisition (DCLP), 3% is immediately redistributed to all SRCX wallet holders via Loyalty Echo rewards, and 1% is used for BNB Liquidity Pool Acquisition. As the network grows and hits various milestones of trading volumes that are sustainable, the automation fee will be adjusted downward by the protocol’s algorithm.
How Is the Source Token Network Secured? Source Protocol’s white paper outlines the following plan for the safety of its protocol: Source Protocol Ltd burned all tokens in the Dev Wallet before launch, there was a fair launch on DxSale, the LP is locked on DxLocker, and an LP is generated with every trade and locked on PancakeSwap.
Where Can You Buy Source Token (SRCX)? SRCX tokens can be purchased on many exchanges. One choice to trade SRCX is on LBANK, as it has the highest SRCX/USDT trading volume, $115,213 as of June 2022.
Other options for the SRCX/USDT trade pair include COINSBITS, P2PB2B, AZBIT, INDOEX, and TOKPIE. Of course, it is important to note that investing in cryptocurrency comes with a risk, just like any other investment opportunity. To check SRCX price live in the fiat currency of your choice, you can use CoinMarketCap’s converter feature directly on the Solana currency page, or the dedicated exchange rate converter page.
Our most recent articles about SRCX https://www.nasdaq.com/press-release/lbank-exchange-will-list-source-token-srcx-on-june-10-2022-2022-06-10