Masa Finance
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Masa Finance

Launching Web3’s First Soulbound Token Single Sign-On

At Masa, our ambition is to on-ramp the next billion users into decentralized finance. Converting the next billion users requires filling the web3 user experience gap, delivering intuitive and elegant user experience. The Sign-On experience is one of the most fundamental experiences web2 users are familiar with. We’re excited to announce the release of Soulbound Token Single Sign-On (SBT SSO).

Learn more about how to Single Sign-On with your Masa Soulbound Identity

The Backstory

On August 12, 2022, Masa launched Masa Soulbound Identity, web3’s first Soulbound Token identity protocol, on Celo’s Alfrajores testnet, with mainnet planned on Ethereum in the near future. Masa Soulbound Identity empowers users from around the globe to claim their unique .soul name (like an ENS domain name) and mint a Soulbound Token (SBT) which represents their digital identity. Once a user claims their Masa Soulbound Identity, they can use it to create a web3 credit report, and in the future access a variety of financial services built on Masa.

Introducing Web3’s First Soulbound Token Single Sign-On (SBT SSO)

You might be most familiar with the traditional version of Single Sign-On (SSO), where you can access a variety of web and mobile applications via connecting your email or social accounts. These popular authentication methods rely on centralized providers — in many cases big tech — putting trust in intermediaries, sacrificing privacy, and often putting their security at risk.

At Masa, we are solving this traditional authentication problem through Soulbound Token Single Sign-On (SBT SSO). Allowing web3 users to seamlessly sign-up or sign-on to web3 applications, while protecting privacy, and making it as simple as signing a transaction in your wallet.

How to use SBT SSO on Masa

  1. Connect Metamask account
  2. Sign up by connecting your wallet and signing to authenticate
  3. Claim your .soul name (an SBT name that links to your Masa Identity)
  4. Mint a Masa Soulbound Identity SBT
  5. The user is now logged into the Masa application using decentralized Single Sign-On
  6. The user can now mint and connect a web3 wallet to generate a web3 credit score SBT, and in the future access a variety of financial services built on Masa

Watch the video for a full tutorial of creating and using Soulbound Token Single Sign-On (SBT SSO)

Future Applications of SBT SSO

As Masa expands, you’ll be able to consistently use your SBT to sign in to create your web3 credit score, connect to borrowers and an array of other financial services.

As developers build within the Masa ecosystem and we integrate with more partners, your SBT will be your passport to a vibrant financial ecosystem, all of which you’ll be able to create an account and sign-on to with a single transaction.

About Soulbound Tokens

Soulbound Tokens are non-transferrable, non-fungible tokens that include nuanced, socially programmable privacy parameters that can serve as a web3 user’s identity. Fundamentally, Masa’s Soulbound Tokens differ from blockchain-based identity certificates such as decentralized identifiers (“DIDs”) and verifiable credentials (“VCs”) by one critical aspect: composability. Masa’s SBTs achieve composability with web3 smart contracts for correct execution of code, privacy, coercion resistance, and censorship resistance.

How Can You Support?

User Testing: We are looking for user feedback from the community and are awarding mainnet whitelist places for testers to claim one soul name through early access once the testing phase is complete. You will have to re-register your soul name on each release of the testnet, and soul names do not convert to the mainnet.

Please signup to test the testnet here — you must be using Celo’s Alfrajores testnet to mint in this release — read the Alfrajores Metamask Setup guide here. Help us make improve by reporting bugs or feedback on Masa Discord in the #🐛│sbt-bugs channel

Developers: If you are a developer who wants early access to our SBT developer framework, please email us at developers@masa.finance to request early access. If you are passionate about blockchain and access to credit, please check out our careers page here or email us at jobs@masa.finance — we would love to hear from you!

Partners: If you are interested in leveraging Masa Soulbound Identity for credit underwriting, Single Sign-On or identity verification in your application, please email us at partners@masa.finance.

With Gratitude,

The Masa Team 🌽

You can reach us on the following channels:

Website | Discord | Telegram | Twitter | Facebook

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