What is SBT?
The essence of donation is to buy SBT for soul binding. What does this have to do with ProofofStake? On the homepage of Proofstake.gitcoin.co, click getstarted, and the following prompt will appear.
"Vitalik is committed to supporting open source public products, and he will release ProofofStake on September 27th. We are raising money for public goods through a truly unique NFT. Vitalico will sign your token directly. When this book is released, this token will be embedded in your digital copy. Cool, isn't it? "
It has been mentioned that the truly unique NFT is SBT. It is the key media for the pre-sale of this site and the transmitter of community spirit. The full name of SBT is SoulboundToken, which translates into a token of soul bondage. It comes from the paper "Decentralized Society, Searching for the Soul of Web3" co-authored with God V in May, with the essence of "Tao, Universe, Treasure of Good and Protection of Evil" introduced by Laozi's Tao Te Ching. Tao is self-evident.
Looking back, the Soulbound blog published by God V at the beginning of the year has already made a preliminary explanation. The name Soulbound comes from the game World of Warcraft. In this game, soul-bound items can only be used by players themselves, and cannot be traded, mailed or given away with other players. Similarly, SoulboundToken is a non-transferable token account, which is bound to the user's wallet. In particular, any online or offline institution can use SBT to recharge your wallet, but there is one exception, that is, the issuing bank can cancel the operation. Once you receive and put your wallet, it represents the generation of your unique label SBT, where SBT has a gradual accumulation process.
What is the value of SBT?
According to the above, under the premise that the SBT is generated and non-transferable, users can obtain the SBT issued by any participating organization. The more SBT they have, the more affirmation you will get. In this way, users will form their own credit system, which is a bottom-up personal credit scoring system. With a strong reputation system, people in any ecosystem can interact. This sustainable and renewable identity system allows people to rebuild their Web3 identity in an unprecedented way.
Identity connection is particularly important in the decentralized open source network of Web3. Having a universal identity that can be used in a huge network is a very important step to open the door of Web3, and it can also form a trust and cooperation network that can resist malicious attacks. SBT is such a role. Through self-construction logic, identity and community are connected from bottom to top, which brings the only enhanced social role, truly breaks through social barriers and builds a better Web3.