WB Soul Ecosystem Explained

WhiteBIT
Published 29 June 2023
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WB Soul Ecosystem Explained

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While developing WB Network, we have come up with the idea of creating WB Soul Ecosystem that will become a foundation for lots of exciting Web3 products on our own blockchain. We took inspiration from Vitalik Buterin’s article “Decentralized Society: Finding Web3’s Soul” and created a bridge between the on-chain and off-chain worlds. Keep on reading to find out more!

What are WB Souls?

WB Soul is your digital representation on our blockchain, much like an ID that any WhiteBIT user with KYC can create.

Each Soul has its unique features. They all are divided into two types:

  • Soul attributes: these are changeable Soul characteristics (for example, the level of WBT Holding on the exchange).
  • Soulbound Tokens (SBT): these are unchangeable characteristics (non-transferrable tokens that can serve as achievements, rewards, event passes, and more).

So far, there are two attributes to characterize WB Soul:

  • IsVerified indicates if the WhiteBIT user verification is active.
  • HoldLevel shows the level of WBT hold (from 1 to 11, according to the table).

These attributes will be visible to a user after WB Soul is created.

How to register a WB Soul?

This process is quite simple:

  • Connect your Web3 wallet to your account in the settings.
  • Make sure that you have passed KYC.
  • Go to the WB Soul page.
  • Agree to the Terms & Conditions.
  • Click the confirmation button.

The information about WB Soul will be shown on the Explorer. Your personal data will not be transferred to the blockchain when creating or using WB Soul.

All WB Souls on the Testnet will be automatically transferred to the Mainnet.

What are Soulbound Tokens?

Soulbound Tokens are assets associated with a specific Soul on the WB Network. They cannot be sold or transferred. The tokens always remain bound to the WB Soul they were minted to and can serve as achievements, rewards, event passes, etc. Soulbound Tokens are usually a part of a collection. We have big plans for their implementation, so stay tuned!

How can Soulbound Tokens be used?

For example, whenever we want to additionally reward our users for participating in an activity, we can use Soulbound Tokens to do so. In this case, we create a collection of three Soulbound Tokens for the first three places (it can be any number) in the leaderboard, and the smart contract binds these tokens with the corresponding participants’ WB Souls. These tokens will indicate your achievements and stay connected to your WB Soul forever.

Of course, there are more situations where Soulbound Tokens can be used.

EarlyBird Soulbound Tokens

Every user who participates in our Testnet will receive their own Souldbound Token from the EarlyBird collection. These tokens will be later transferred to the Mainnet.

Continue supporting our ecosystem’s growth, and stay tuned for more exciting updates!

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