The goal of Resource Finance - to address and answer the fundamental economic questions for DLT-based mutual credit systems, while providing a flexible framework within which different kinds of mutual credit systems can be built to serve a wide variety of use cases.
Description of the Resource Finance project
The capabilities of the ReSource protocol can be adapted to different use cases. The protocol can meet the needs of closed communities of mutual trade, as well as commercial applications in the open market without permissions. ReSource Network, as the first application, built on the ReSource protocol, is a mixture of both. It is primarily aimed at global SMEs, freelancers and startups.
Other features:
| 1 | The ReSource Protocol governance token is used to guarantee loans, pay network fees and participate in the protocol, as well as network governance. |
| 2 | While rUSD is native to the ReSource network, SOURCE serves all networks, built on the ReSource protocol. |
In short, ReSource Network offers members access to an extremely cost-effective line of credit in the form of a current account with overdraft support. The balances on this account can be spent in an Amazon/eBay-like environment. They usually feature goods and services, offered by other members.
The ReSource Network uses an instance of the ReSource protocol, which will eventually be managed by a DAO (Decentralized Autonomous Organization), made up of asset owners and stakeholders.
More about defi app
ReSource's goal - to reintroduce economic incentives that encourage commercial financial institutions to assess creditworthiness, lend prudently and take the necessary levels of risk by distributing these functions among participants in a peer-to-peer lending network, rather than centralizing them under the roof of a single enterprise.
The funding will help to increase customer engagement in the ReSource Finance dApp and improve reputational decentralized credit lines for small businesses. In a statement, the firm reaffirms the need to provide credit to these “genuine economy builders” on a peer-to-peer platform without intermediaries.