SOURCEswap has arrived! A soft launch over the next week has commenced. The first native web3 application on the SOURCE blockchain is public with limited functionality. Please be cautious while interacting with the application and use at your own risk, it is recommended to test things first with small token quantities before executing any larger transactions.
The SOURCE blockchain's ecosystem is taking a significant step forward with the soft launch of SOURCEswap, a new decentralized exchange application. This initial release offers limited functionality to ensure a smooth and bug-free user experience without putting large amounts of liquidity at risk.
SOURCEswap (soft launch) introduces key features including token swaps and liquidity provision. This allows users to exchange supported tokens directly on the SOURCE blockchain without having to leave the SOURCE ecosystem. Users can initially provide liquidity to trading pairs starting with USDC.axl/SOURCE. Users earn rewards in the form of USDC.axl and SOURCE tokens for their participation in liquidity provision. More liquidity pools and token pairs will be added in the near future as well as additional unrevealed capabilities. More importantly, SOURCEswap allows new tokens and applications to run on the blockchain that will bring more value and utility to the SOURCE ecosystem.
SOURCEswap's importance to the SOURCE ecosystem cannot be overstated. It serves as essential infrastructure, paving the way for future SOURCE web3 applications. The application enables on-chain trading, eliminating the need for frequent IBC transfers to third-party chains for token swaps. This encourages users to remain within the SOURCE ecosystem and promotes diversification of token holdings. Furthermore, SOURCEswap will allow the accumulation of Total Value Locked (TVL) on chain, a crucial metric for increasing the network's overall value.
The launch of SOURCEswap is a major milestone and allows for robust decentralized finance (DeFi) capabilities to be added in the near future. As the foundation for DeFi on SOURCE, this decentralized exchange opens up a world of possibilities. The power of DeFi lies in its ability to provide financial services without intermediaries, and SOURCEswap is the gateway to this potential.
With SOURCEswap in place, the network can look forward to the development of more advanced DeFi protocols. This could include lending and borrowing platforms, yield farming opportunities, decentralized insurance, and even more complex financial instruments. The presence of a native decentralized exchange also makes it easier for new projects to launch and gain liquidity on the SOURCE blockchain, potentially attracting more developers and users to the ecosystem.
By bringing DeFi capabilities to SOURCE, SOURCEswap is not just facilitating token trades; it's laying the groundwork for a more interconnected and financially empowered community. Users will have greater control over their assets and more opportunities to participate in the network's growth and success. As SOURCEswap evolves and expands its capabilities, it will play a crucial role in realizing the full potential of DeFi within the SOURCE ecosystem, driving innovation and creating value for all participants.
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NEWCOMERS:
Welcome to the #SOURCEforce!
If you are new you may have a $SOURCE #airdrop from staking $ATOM. Simply connect Keplr to the SOURCE blockchain. Tokens were automatically distributed at genesis. Last snapshot - February 2023. SOURCE mainnet 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.
Stay informed and don't miss out on all the excitement!
keywords:Â USDC.axl, Axelar, gaming hub, validator, staking, crypto exchange, trading, RWAs, play-to-earn, web3 gaming, $SOURCE, IBC, blockchain business solutions, SCRT, Secret Network, Kyve Network, Planq Network, Akash, 2TG Entertainment
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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