Resource Finance IDO On Dao Maker
The ReSource Protocol provides a comprehensive toolbox for the creation of distributed mutual credit systems that grant participants access to 0% interest credit, further collaborative commerce, and give rise to a new class of stablecoins.
ReSource introduces a series of features, unheard of in the crypto industry:
- Users are not required to stake assets to access credit, in contrast to Aave, Compound and the like.
- ReSource doesn’t require external lenders to provide capital for loans to be issued. Instead, the capital used to extend credit is “spent into existence” when members access credit, and destroyed when loans are repaid.
- Credit risks are securely managed by a distributed network of “Underwriters” who assume risk in return for staking rewards
- Loans can be paid back in kind (with goods provided and services rendered)
- Credit decisions are based on a variety of unconventional data sets, including seller ratings on platforms like Yelp, Airbnb, Amazon, UpWork; financial data from accounting software and banks, and most uniquely, SaaS data from analytics products.Going forward, Mesh-Reputation will allow existing, rated members to vouch for new members; effectively “staking” their credit score to earn rewards\pay penalties respectively.
SOURCE fulfills four essential functions within the Resource protocol:
- Staked SOURCE carry a portion of the network’s risk, in return for staking rewards. Unstaked SOURCE do not carry specific risks associated with particular credit lines, except the usual risks associated with the holding of assets of any kind.
- Staked SOURCE grant their owner voting rights on network decisions. Unstaked $SOURCE do not grant voting rights.
- Unstaked SOURCE may be used by members to pay network fees.
- Staking rewards will be paid in $SOURCE.
As a result, ReSource absorbs and locks an increasing amount of SOURCE as the network grows. The more credit lines are issued, the more SOURCE will be locked within staking contracts and the more SOURCE will be acquired to pay transaction fees.
$SOURCE initial decentralized offering will be hosted by Dao Maker on 14th November 2021 at 12:00 UTC.
ABOUT ReSource Protocol
The ReSource Protocol provides a comprehensive toolbox for the creation of distributed mutual credit systems that grant participants access to 0% interest credit, further collaborative commerce, and give rise to a new class of stablecoins.
ABOUT Dao Maker
DAO Maker creates growth technologies and funding frameworks for startups, while simultaneously reducing risks for investors.
