Masa Finance
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Masa Finance

Masa Soulbound Identity: Claim Your Soul Testnet Launch

Learn more about Masa Soulbound Identity at the Launch AMA

We are excited to share a product we’ve been working in stealth for months with the world: Masa Soulbound Identity is the world’s first Soulbound Token (“SBT”) identity protocol.

For those who may be unfamiliar, SBTs are non-transferrable, non-fungible tokens (“NFTs)” that can serve as a web3 user’ identity.

“[SBTs] represent the commitments, credentials, and aliations of “Souls” can encode the trust networks of the real economy to establish provenance and reputation.”

— Decentralized Society: Finding Web3’s Soul, E. Glen Weyl, Puja Ohlhaver, Vitalik Buterin

At Masa, we are pioneering Masa Soulbound Identity to power a range of use cases, such as identity, lending, and single sign-on. Soulbound identity holders can link and share data publicly using any EVM-compatible chain or privately through Masa’s Proof-of-Stake ZK private transaction blockchain. Once deployed on mainnet, Masa Finance will become the first platform to offer a soulbound structure on any EVM-compatible chains.

Masa Soulbound Identity Use Cases

An EVM-Compatible .Soul Name: The first testnet launch will allow people to claim a unique .soul name — for example, teslashibe.soul — a unique identifier for a holder’s soul that resolves to a wallet, or soul-linked data source — like ENS for SBT. On mainnet, users would be able to renew and trade their .soul name ownerships on OpenSea or any other supported NFT platforms.

Web3 and web2 credit scores: Masa is on track to deliver web3 and web2 credit scores linked to wallets. With the web3 financial identity established by Masa Soulbound Identity, users globally can get access to decentralized loans and other financial products. Lenders will be able to increase underwriting quality and access a global pool of decentralized liquidity. Liquidity Providers will be able to better assess Lenders’ loan book quality and make data-driven investment decisions. We are excited to announce our first lending partner and liquidity partner in the coming weeks!

Web3 Single Sign-On and Reusable KYC: Currently a big hurdle for web3 user adoption is a lack of user-friendly interface for easy logins. Masa Soulbound Identity aims to serve as the single sign-on for web3: by soul-linking your accounts, you will be able to sign onto various web3 applications in one click. The single sign-on functionality can allow users sign-on without revealing their identity or doing biometric verification every time. It can provide a smooth sign-on experience to the likes of exchanges, NFT whitelist registration, soulbound airdrops, and beyond.

What’s Next

SBT V1.02 Alpha — August 12th, 2022: signup and claim your unique soul name on the Alfrjores testnet — contract deployed here

SBT V1.03 — August 22nd, 2022: signup and claim your unique soul name on the Ethereum testnet with ERC-721 Soulname contract

SBT V2.0 Mainnet — September 2022: fully decentralized SBT Identity Layer with no authenticated login and mainnet launch on Ethereum of Masa’s SBT Identity Layer — claim your unique .soul soul name and link the following data sources:

  1. Wallet to create a web3 credit score
  2. Discord profile to access souldrops
  3. FICO linking to migrate your FICO credit score and see your web2 and web3 credit score in one place
  4. Developer support for Masa Soulbound Identity and private/public SBTs
  5. Plus, any suggestions from community members!

How Can You Support?

User Testing: Over the next 4–8 weeks, we will build fast and test new features weekly with community members on the testnet. 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

Learn how to set up Alfrajores in Metamask

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.

Support us! Sign up to the Masa SBT testnet here.

Thanks,

The Masa Team 🌽

You can reach us on the following channels:

Website | Discord | Telegram | Twitter | Facebook

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