With an intelligently-designed airdrop, a focus on enterprise development and partnerships, and cross-chain functionality, the $SOURCE Blockchain is poised to quickly rise amongst the industry’s biggest and best.
On Thursday, August 4th, Source Protocol Ltd announced the test net launch of the next standout blockchain to hit the crypto market and the Cosmos ecosystem. Built as a highly efficient, scalable and permission-less blockchain network for interoperable dApp development, $SOURCE is bringing a Binance Smart Chain-based DeFi ecosystem and strategic enterprise partnership development to the Interchain. $SOURCE will be publicly-available for enterprises, developers and individuals to create and use scalable dApps, smart contracts and tools for Web 3.0, DeFi, NFTs, P2E, privacy networks, DeSci, and more.
Read more on Source Protocol’s advanced blockchain ecosystem: A Web 3.0 Tech Suite for Individuals, Developers and Enterprises
According to the team’s CEO, innovative plans have been set in motion to introduce new market share to the blockchain industry at large, with $SOURCE and Source DeFi Suite’s focus on bridging the gap between existing Web 2.0 solutions and Web 3.0. These plans already involve building infrastructure for mortgage data servicing companies, a top tier metaverse, white-labeled DeFi banking services, among others. The $SOURCE team is also currently working with partners to establish a strong presence in many regions including the United States, Dubai, Central Europe, South America, and Japan. The $SOURCE testnet is already onboarding dozens of validators in preparation of the chain’s airdrop and mainnet launch later this year.
A New Approach to Airdrops is Needed
A blockchain’s airdrop plays a critical role in establishing a strong foundation for the chain at the date of genesis. A successful airdrop bootstraps a blockchain’s decentralization to a large group of engaged users while simultaneously inviting them to contribute and participate in the new community network.
All Cosmos Hub blockchains have different strategies on how they approach their genesis distribution airdrop. There is controversy in how airdrops are done as $ATOM “whales” typically continue to receive the majority of each new project’s tokens, and users continually find ways to skirt the rules or “game” the airdrop. This limits distribution and decentralization at genesis. For example, if there is a whale-cap (which limits the amount of…
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