A life 3.0 – Masa deploys his mainnet Ethereum (ETH) and bring tokens Soul bound on the network. These tokens open up new possibilities for other blockchain-based protocols, in terms of facilitation of KYC procedureso credit risk management for loan protocols.
Masa and the Soulbound identity tokens
Masa comes as the first protocol that uses Soulbound Tokens (SBT) to represent the formation of information identity of their owners. SBTs are non-fungible tokens, which cannot be transferred from one wallet to another.
Masa then offers various tokens, which allow its users to build their own identity in web3. The protocol allows its users to coiner of soul nameswhich are easily readable names or nicknames, associated with the classic address of their wallet.
These Soulnames can be a combination of letters, numbers and emojis, followed by theextension ” .drunk like satoshi.soul. They therefore have similarities to ETH domain names.
These nicks are connected to NFTs that can be traded on OpenSea. On the other hand, Masa’s Soulbound Identity (MID) tokens that are linked to the attributes that make up their holder’s identity are Non-transferable NFTs. These MIDs can for example be used for KYC procedures.
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Credit scores for web3
Masa also offers a Soulbound Token representing the credit rating (MCR) of an individual. This rating is calculated on the basis of various data relating to the token holder’s Ethereum activities – history of wallet transactions, balances on cryptocurrency exchanges, etc.
If soul names can be traded on OpenSea, MCRs are non-transferable, just like MIDs. In other words, an individual can sell his Soulname which serves as his nickname, but cannot do the same for his identity or credit rating.
Masa Brings Soulbound Tokens to Ethereum
Masa has only worked on the Goerli testnet. However, in a January 17 press release, the protocol announced the launch of its mainnet on the main Ethereum network. From now on, users of the protocol can mint the different Soulbound tokens of Masa: those related to Soulname, MID and MCR.
The announcement highlights that Masa intends to expand on other blockchains This year. It also indicates that nearly 250,000 Soulbound and 300,000 Soulname identity tokens have been minted on the testnet since August.
With this arrival of Masa on the Ethereum mainnet, the protocol facilitates the building of an identity on the blockchain. In the near future, Masa will count then governments that want to create a decentralized identityamong its main partners?
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