ReSource Finance : A brief overview
Power to the people
ReSource facilitates trade networks on which businesses can access financial services for free. They achieve this by fundamentally changing the relationship between lenders and borrowers, and cutting the middleman out of the equation for every stakeholder’s benefit.
Leveraging DLT technologies, ReSource Finance competes directly with the entire banking industry by solving the risk management and economic issues — a true DeFi utopia for many.
An absolute first in DeFi
In the past, banking systems lacked the necessary growth to make them appealing to the mainstream. They faced the issues of collectivised risk management, often leading to stagflation — the contraction of productive output in conjunction with inflation.
At DAO Maker we always look for breakthroughs in the industry as a whole. ReSource Finance caught our attention with its impressive tokenomics — a stablecoin as the unit of account (rUSD), and a second, free-floating token — $SOURCE — for commitment, incentives, penalties and fee payments. This creates a binary system, where $SOURCE can be used to stabilize rUSD.
An (in)credible P2P solution
To access such services, there is no need to stake assets or external lenders — it’s a self-funding B2B network.
The way they ReSource operates is most elegant — the participant business gets a line in rUSD (their stable coin), and repays his debt by accepting rUSD as a means of payment for whatever it is he is producing, until his debt is settled. Capital is spent into existence, when members access the service and destroyed when loans are repaid.
The risk management is handled by Underwriters — stakers who assume the risk in exchange for $SOURCE denominated engagement rewards. Additionally existing, rated members vouch for new members, thereby “custody” their score to earn rewards/pay penalties.
Scalable and High-in-Demand
0% interest loans run on blockchain accounting are not only for crypto enthusiasts. In fact, the team has already a pilot running in the US with $750K interest-free loans extended to real-world businesses with no connection to crypto at all.
In doing so, these 200 businesses merged into a mutually beneficial alliance, where they can monetise their un-utilised assets. DAO Maker believes that this intersection of distributed ledger technology and the "main street" — i.e. what many call "the real world" — is the beginning of mass adoption and we are proud to be partnering with ReSource Finance to work towards that goal.
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Be sure to check out their Website.
To stay up-to-date with the latest developments follow their Official Telegram, and Discord.
