ReadON combines with the soul of the reader
ReadON has introduced the Web3 soul-bound system: the ReadON Archive, which mints users’ experiences as soul-bound tokens (SBTs) that represent their reputation in different topic areas. These SBTs can be used to determine users’ eligibility for governance rights in the ReadON universe, and can also be accessed by other dApps to access users’ reputation data. The ReadON Archive is an aggregator of experience data, which can associate users’ on-chain and off-chain data assets. Through data mining and natural language processing techniques, users can transform their data from social media into on-chain experience, interest, and reputation data. The minting rules of the ReadON Archive are public and verifiable, and the information in the ReadON Archive can be updated to reflect changes in users’ experiences and behavior.
In the past, our identity or information in the Web3/Blockchain world was represented by icy codes, but since May 2022, when Vitalik Buterin, founder of Ethereum, Puja Ohlhaver, lawyer, and E. Glen Weyl, economics & social technologist, introduced the concept of Soul Bound Token (SBT), the world of Web3 / Blockchain has gradually become warmer.
Soul Bound Tokens (SBT) are non-transferable tokens representing our personal identity, biography, and identification by means of blockchain technology. We can actually have multiple souls just like we have multiple wallets, which represent different aspects of our lives. Soul Bound tokens allow us to build a verifiable digital Web3 reputation based on our past actions and experiences.
People may not know that the logic behind Soul Bound tokens originates from the popular game World of Warcraft. In this game, players cannot sell or transfer soul items. Once they are bonded, the soul-bound item is forever “bound” to the player.
So, imagine what it would be like to apply this idea to NFTs. Nowadays, most NFTs are certificates of ownership for digital art or collections. People can buy, trade, or flaunt NFTs as a symbol of their assets. On the other hand, Soul Bound Tokens aims to transform the concept of NFT into something beyond money and assets, making tokens not only unique but also non-transferable. While NFTs represent assets and property, SBTs represent the reputation of a person or entity, but unlike NFTs, SBTs have no monetary value and cannot be traded once they enter a wallet.
In fact, soul-bound tokens are now very widely used. After extensive research and thought, ReadON introduced the first web3 soul-bound system, let’s call it: ReadON Archive
The ReadON Archive is a system that mints users’ experiences as soul-bound tokens (SBTs) that represent their reputation in different topic areas. These SBTs can be used to determine users’ eligibility for governance rights in the ReadON universe, and can also be accessed by other DApps to access users’ reputation data. In addition, users can claim new experiences by associating more data assets with their SBTs. Reading behavior in ReadON can also contribute to users’ experiences in relevant topics.
ReadON Archive follows the following design philosophy, which we think will have a wide range of uses in the Web3 world.
1. ReadON Archive should contain rich data
We believe that SBT should not just be a marker of simple achievements, like one’s participation in a certain AMA. Rather, it should be richer in data information. These added values will attract other applications to use our SBT. ReadON Archive is an aggregator of experience data, which can not only associate users’ on-chain data assets but also import off-chain data assets to the on-chain profile. Through data mining and natural language processing techniques, users can transform their data from social media such as Twitter into on-chain experience, interest, and reputation data in a simple verification step.
2. The minting rules of ReadON Archive shall be public and verifiable
ReadON Archive, as a profile of users’ on-chain reputation, can be used by not only ReadON but also any other application, provided users agree to grant permission, to provide services. Therefore, the minting rules of ReadON Archive should be public and verifiable to ensure the credibility of the certificate. ReadON Archive mainly uses data mining algorithms and NLP engineering techniques to mine the user’s interaction behavior with the content. After the algorithm is stabilized, the whole procedure of minting rules will be open source, and any DApps can freely use the minting program.
3. The information in the ReadON Archive can be updated to reflect changes in users’ experiences and behavior
The data in the ReadON Archive, which represents users’ on-chain social interactions and accomplishments, is dynamic and can be updated as users continue to engage with ReadON. Activities such as reading, commenting, sharing, curating, and creating content in ReadON can contribute to users’ experiences in related fields and be recorded on the ReadON Archive. This can also inspire users to develop their reading and creating habits and achieve their goals within the ReadON platform.
In the ReadON ecosystem, the ReadON Archive will work with Catto NFTs to provide an engaging and rewarding experience for users. Catto NFTs are tokens that represent users’ progress within the ReadON economic system and can be collected, upgraded, and synthesized as part of a set of gameplay features.
In ReadON’s content community governance, the ReadON Archive and Catto NFTs will work together to determine users’ advanced governance rights. These rights will be limited to users with sufficient reputation and experience, as reflected in their ReadON Archive, and who also hold a certain level of Catto NFTs. The experience level is closely tied to the effective reading time that users have accumulated in the ReadON app. The longer users read effectively, the higher their experience level will be, and this will affect their benefits and rights within the platform.
In the personal center of the ReadON app, users can view their daily reading time and effective reading time, as well as their SBT level. Only when users read within the effective time can they earn experience value. When they start reading, they will see a circular progress bar in the upper right corner that represents their progress for the day. When the outer circle is full, it means that the reading time has reached the upper limit for the day, and users will no longer earn extra experience value if they continue reading.
Through the ReadON Archive and SBT, users can view their ReadON experience value, reputation, and reading preferences, which reflect the time they have spent on different topics and their level of engagement and interest in these topics. This will also affect their permissions and benefits within the ReadON app for different topics.
Soul-bound tokens have become a popular topic in the Web3 world. These tokens allow users to build their own digital reputation and check the reputation of others. We believe that the ReadON Archive will become a profile of users’ experiences, reputation, and interests in the Web3 world, and it will be interesting for users to find ways to make their “souls” interesting and unique. By combining ReadON and the reader’s soul, users can have a more personal and meaningful experience within the platform.
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