Hi BGIN Co-Chairs, Members and External Contributors,
I am excited to announce our latest soulbound token focused working draft: “BGIN_WD_SR013_ Soulbound Tokens (SBTs) Part 2: Integrating Contextual Metadata in Smart Contracts for Plural-Polycentric Reputation-Based Economics.”.
- Draft introduction is complete (leave comments & feedback)
- Draft paper structure established (leave comments & feedback)
- Draft title completed - Encoding Trust: Integrating Contextual Metadata in Smart Contracts for Plural-Polycentric Reputation-Based Economics; the other option is to switch ‘Economics’ with ‘Applications’, but found ‘Economics’ to be broader and all encompassing. (leave comments & feedback)
This paper builds on our previous work, with “BGIN_WD_SR008_Soulbound Tokens (SBTs) Study Report Part 1: Building and Embracing a New Social Identity Layer?”
Open Google Document Link - BGIN_WD_SR008_ Soulbound Tokens (SBTs) Part 1 - Google Docs
Paper Background & Alternative Future Works
As most would know SBT Part 2 hasn’t made any headway since the publishing of Part 1 in early February 2023. I own this responsibility and have as the title of this post should indicate the necessary movements to progress BGINs essential research on Soulbound Tokens. The momentum is still there, and we need to capitalise on this. During Block #8 in Croatia we formulated a variety of potential future works on Soulbound tokens which included:
- Soulbound Governance Tokens: Non-transferable Governance for Honest and Fair Participation.
- Soulbound Tokens: An In-depth Exploration of ‘Soul’ Relevant Ethereum Improvement Proposals
- Viable Reputation Economic Models for Scalable Soulbound Tokens
- Analysis of ‘Soul’ related qualities in historical literature
- Context Driven Exploration of Communal Use-Cases of Soulbound Tokens
- Feasible Commercial Models for Reputation-Holding Non-Transferable Tokens
- Lifecycle Management, of Expirable Tokens on Immutable Permissionless Networks.
- A Comparative Analysis of SBT & NFT Applications for Communal Participation
- Plural Polycentric Soulbound Tokens for CBDC & DeFi Bi-Lateral Compatibility
Open Google Slides Link - 230506 BGIN | Block#8 SBT Future Works - Google Slides
Three Major Topics of SBT Paper 2
After much consideration, I’ve decided to dive into (3) major topics:
- Reputation Economics (fundamental to understand and encode value incentives to adopt, transfer and manage SBT lifecycle)
- Metadata Design (consideration on essential meta data to embed/standardise across a number of SBTs)
- Soulbound Governance Token (a concept coined in SBT Part 1, this paper will expand into the application of our theory - potentially for an ERC-EIP)
As we continue to explore the potential theory and application of Soulbound Tokens, your insights and contributions will be invaluable. I am are currently seeking feedback, suggestions, and collaborative efforts to refine and enhance this draft. Your participation can significantly shape the trajectory of this pioneering work.
Anticipated Next Steps
The draft is accessible via this link I encourage you to review it and share your thoughts on this forum thread and leave comments/suggestions/edits throughout the draft paper Google Document.
Looking ahead, I plan to present the paper at the upcoming IKP working group meeting. This will be a great opportunity for further discussion and feedback, offering a platform for in-depth exploration of the concepts, applications and paper structure proposed in the draft.
Expertise and input are crucial for the progress of this research and enable further study into a space we all find so interesting and essential to push forward.
Thank you for your ongoing support and engagement.