SBT/Digital Credentials

SBT

Soulbound tokens are just permanent, non-transferable NFTs, meaning that they can’t be given away or taken from **your private blockchain wallet.**The thing to remember is this: Soulbound tokens are every bit of factual information about you broken down into individual NFTs and stored in your private blockchain wallet.

How can SBTs be used in ALTVERSE?

KYC verification

Role verification, DID as proof of work, proof of attendance, proof of education, proof of action etc

Voting power

Exchangeable reward

Earned rewards/Credit verification

Avatar

1) KYC verification

Aims to tackle identity verification issues in Web3, serving as a digital verification tool for Altverse users who have completed kyc.

2) Role verification Digital Credentials DID

Altverse applicants SBTs may act like real-life achievement badges, they can submit all their prior work history and professional certificates using official SBTs issued by previous companies and institutions. The SBTs function as proof of skill certificates displayed as badges.

Altverse issues Altie DIDs, a quest system rewards our community with Proof of action, by growing and engaging in our discord. We are partnering with multiple DIDs issuer protocols, like Kleoverse (off to online proof of programming education, Quadrata ( KYC, financial score), Space id and so on.

3) Voting power

SBTs are also proposed for Altverse Dao voting. Instead of the current governance model, which is based on how many tokens a member holds, Our DAO could issue SBTs that assign voting power based on users’ interactions with the community. This model would prioritize voting power for the most dedicated users with a strong reputation. A basic voting power is assigned after the completion of the profile page and an escrow transaction.

Besides creating a reputation-based voting system, SBTs may potentially improve the integrity of DAO voting — namely, defending against sybil attacks— one of the biggest threats to the current DAO governance model. (When an attacker purchase governance token to manipulate votes)

A 50% SBT and 50% Governance Token with equal weight in voting power is also an option considered for the future.

4) Exchangeable reward

SBTs can be earned and rewarded to community based on their engagement and activities within our server. These SBTs will be exchanged in the future with tradable NFTs of different value, speculative/collectibles or exclusive membership value (0% escrow fees)

5) Earned reward credit verification

SBTs can represent Altverse completed escrow contracts, in so representing a credit value earned and verified on the blockchain. Total value earned by freelancers or spent by Daos can also be verified and displayed as SBTs (similarly to Proof of work in Dework)

6) Avatar

Altverse avatar will be the core of our social-metaverse, users will be able to navigate, showcase and promote themselves thought their personal branding avatar containing their Altverse web3 identity. This identity can be represented by a SBT.