Masa, the developer of the initial EVM-compatible Soulbound Token protocol, disclosed that its Base Camp Soulbound tokens are now available. Users of Coinbase’s Base Layer 2 blockchain will be able to access it soon. Masa is also planning to provide the Base SBT Developer Toolkit for programmers in the future weeks. Following an April 4 release by Masa Finance, soulbond coins will soon be accessible on Coinbase’s Base network. According to the business, the new coins would allow users to attach identifying and reputational features to their wallet addresses, enabling credit underwriting on the blockchain.
Soulbound tokens (also known as SBTs) are non-transferable NFTs that are used to represent on-chain and off-chain credentials, as described by Ethereum co-founder Vitalik Buterin in his blog last year.
Masa Has New Soulbound ID Tokens
The introduction of new tokens, according to the firm, will allow users to tie their wallet addresses with recognizable and reputational attributes. As a consequence, credit underwriting on the blockchain can be facilitated.
Human-readable domain names, membership badges with a unique identity, accomplishment badges, Referral Attribution, Credit Underwriting for Web2 User Verification: 2FA & Captcha, Web3 Credit Score, and SBT Factory are all possible with Masa’s Soulbound token.
Masa began building a Base edition of its soulbound protocol in reaction to this demand, according to the company’s release.
The revelation of the Base Network’s development has added to the Ethereum community’s positive attitude, with some users hoping that it would lead to larger onboarding of Coinbase customers to Ethereum. Coinbase CEO Brian Armstrong stated in an interview with Bloomberg Radio that “centralized players” on Base will need to incorporate some type of identity verification for users.
