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