[WIP] BEP-179: Introduce Future SBT

[web3isthefuture]

BEP-179: Introduce Future SBT

• BEP-179: Introduce Future SBT
  • 1. Summary
  • 2. Introduction
  • 3. Differences between SBT and fSBT
  • 4. Benefits of fSBT
  • 5. Future of fSBT
  • 6. References

1. Summary

fSBT (Future Soul Bound Token) is a type of token that has a limit on the number of transfers that can be made with it, and can be issued in advance or by a user's account to strengthen its SBT- or NFT-like characteristics, with the owner able to restrict its functions or burn it.

fSBT stands for Future Soul Bound Token, which means that there is **REDACTED**.

The full content of this proposal will be released before the deadline for submission of BNB Chain Innovation Hackathon Seoul, The First Hackathon by BNB Chain in South Korea.

2. Introduction

Future SBT (fSBT) is a digital identity token that represents the traits, features, and achievements of a person or entity. It is issued by "Souls," which represent blockchain accounts or wallets, and has a limited number of transfers. fSBT is built on the BNB Chain and is non-transferable and has no monetary value. It is designed to function as a digital verification tool for Binance users who have completed Identity Verification.

3. Differences between SBT and fSBT

There are several key differences between SBT and fSBT:

Transferability: SBT cannot be transferred, while fSBT can be transferred a limited number of times.
Token owner account: The user is the owner of an SBT, while fSBT can be delegated at first.
Minting point: SBT is not free to mint, while fSBT is free to mint.
Wallet address: An SBT requires a wallet address, while fSBT does not initially require a wallet address.
Storage of assets: SBT does not allow for the storage of assets, while fSBT does.
Community recovery: Both SBT and fSBT offer community recovery options.

4. Benefits of fSBT

There are several benefits to using fSBT:

Flexible minting point: fSBT can be issued in advance, providing flexibility in the minting process. This is especially useful in service situations where personal account connection is needed for Web3 onboarding.
Account abstraction: fSBT is designed to support Account Abstraction (AA) for Web3 onboarding, which allows users to connect their personal accounts without exposing their private keys.
Customization: fSBT allows for customization of the number of transfers and other features, giving issuers the ability to tailor the token to their specific needs.
Rarity: If fSBT is issued by a user's account, the rarity of the token is further emphasized due to the limited number of transfers.
AfSBT and PAfSBT
AfSBT (Advanced fSBT) and PAfSBT (Pre-Advanced fSBT) are variations of fSBT that offer additional features and functionality. AfSBT allows for the transfer of ownership, while PAfSBT allows for the delegation of ownership. Both AfSBT and PAfSBT offer the benefits of fSBT, with the added flexibility of ownership transfer or delegation.

5. Future of fSBT

The future of fSBT is dependent on the adoption and usage of the token by users and issuers. As more businesses and individuals begin to utilize fSBT, it is likely that the token will continue to evolve and improve. It is also possible that fSBT may eventually be replaced by other, more advanced tokens as the blockchain industry continues to develop and grow.

6. References

Details

[philip-nomad]

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[jonesk7734]

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