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KYVE Integration and Governance Prop. 3 passes. SRCX Token Merges into SOURCE

Updated: May 3

KYVE network and SOURCE

Happy Friday #SOURCEforce! It's been yet another busy week. We are very excited about the KYVE Network data pool integrations that we announced earlier in the week. KYVE provides Data Rollups-as-a-Service, unlocking next-level scalability for blockchains and rollups. We also saw a significant governance proposal pass this week (prop#3) that signaled the merging of SRCX tokens into SOURCE. This process has already been initiated, and will benefit the SOURCE ecosystem in many ways.

KYVE Network, the Data Archiving Infrastructure on SOURCE The data archiving service provided by KYVE, allows companies building on SOURCE to have much more manageable access to their data. This saves companies and developers significant amounts of time, increasing efficiency and productivity. Follow KYVE on X to learn more about their technology and services.


SRCX MERGE INTO SOURCE

If you are holding SRCX you now have the opportunity to redeem it for SOURCE at an equal USD value ratio of 4:1, as governance prop. #3 has passed unanimously.


HOW TO REDEEM SRCX for SOURCE:


  1. You must join the SOURCE Discord server HERE.

  2. On the lefthand channel navigation panel, scroll down to "support" and click #create-ticket

  3. Comment swap SRCX for SOURCE and instructions with a form will be sent


Once you send your SRCX to the appropriate address, a member from the team will confirm the transaction and send the proper amount of SOURCE to the source address provided. As we wrap up this token migration, all SRCX owned by Source Protocol will be burned and any remaining tokens in circulation will no longer be supported. There are also many additional advantages as this will remove confusion for the community and newcomers, as there will just be one token, $SOURCE, representing the Source Protocol ecosystem. All metrics listings on CoinMarketCap.com and Coingecko.com will be updated to redirect to the SOURCE listing page.

That's all for this update, stay tuned as BIG web3 developments continue to cook on SOURCE!



NEWCOMERS:

If you are new to $SOURCE you may have an #airdrop from staking $ATOM. Simply connect Keplr to the SOURCE blockchain, tokens were automatically distributed. Last snapshot - February 2023. SOURCE main-net launch was October 13, 2023. Add SOURCE to Keplr using the chain registry HERE.


There are many more great things coming for #SOURCE, be sure to join our Discord or Telegram and interact with our great community. #SourceForce


Thanks for tuning in, and we will see you in the next post!


Stay informed and don't miss out on all the excitement!




keywords: Real World Assets, RWAs, play-to-earn, web3 gaming, $SOURCE, Akash hackathon, IBC, blockchain business solutions


Disclaimer: This blog article is for informational and entertainment purposes only and should not be considered financial advice. Please do your own research before making any decisions with your tokens.

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