📈Tokenomics Overview
1. Overview
Soulbound features a dual-token system designed to enrich user experience and ensure the sustainability of the ecosystem:
Soulbucks: An ecosystem token offering consumptive utilities.
DRIP: A non-transferable token representing the user's reputation on the platform.
2. Soulbucks (SBX)
2.1 Definition and Use-Cases
Soulbucks are an ERC-20 ecosystem token with consumptive utility, which provides features of the Soulbound Platform. Soulbucks acts as the primary medium of exchange within the Soulbound Ecosystem.
It offers a plethora of utilities, including, but not limited to;
Purchasing Stickers: Users can buy a variety of stickers to use within the platform.
Highlighting Posts: SBX can be spent to make posts more visible to others.
Creating Quests: Users can create missions and quests on the platform to encourage other's to complete a wide range of activities, from social attendance to entering tournaments, to forming a group to slay that dragon.
Supersized Stickers: Exclusively post larger-than-average stickers.
Top Layer Stickers: Ensure stickers remain prominently visible.
Premium Subscription: Monthly payments to enjoy an ad-free experience and gain access to additional features.
Private Lobbies: Create private spaces for specific interactions. Gated access at a cost determined by the Lobby Creator.
Cosmetic Upgrades: Enhance user profiles with aesthetic upgrades.
Additional Tags: Apply additional tags to your posts for greater visibility and searchability.
Rewards: SBX may be rewarded to users that provide exceptional content or partake in community events, for leveling up on the platform and airdropped based on your leaderboard positions at the end of seasons.
2.2 Total Supply
Supply: 1,000,000,000 SBX tokens. TGE Scheduled for May 10th 2024.
2.1.1 SBX Allocation Breakdown
The SBX token will be initially allocated as per the following breakdown: [Figure 1].
15% Team, Developers & Contributors: to the core Soulbound Inc. team who will drive the project from concept to reality, developers and engineers that are the backbone of product, social & community moderators, and future onboarded staff members.
7.5% Advisors & Legal: to experts who will contribute special expertise, access, and supportive advisory roles in both the web3 space and legal operations. Soulbound Inc. are working within existing legal frameworks of cryptocurrency & blockchains, and keeping abreast of new developments and regulations therein.
13% Investors: to early investors of the project before the public offering.
15% Public & Private Sale: a second-stage offering for additional land acquisitions and tech build out to interested parties, angels, and members of the general public who believe in the Soulbound Inc. mission, vision and project, who wish to be co-owners and participants of the project.
22% Community & Ecosystem Rewards: a reserve fund to be utilized to encourage participation and contribution to the Popdrip. community and ecosystem; promotions, live events etc. The POP issued for leveling up on the platform also comes from this allocation.
7% Partnerships & Marketing: a reserve fund for incentivizing marketing and partnership with Soulbound Inc.
15% Treasury: a reserve fund for implementation of the Soulbound Inc. roadmap, research & development and of future tech, acquisition and development.
5% Liquidity: an initial allocation so that public trading and price discovery can begin.
3. DRIP Token (Reputation Token)
3.1 Definition
DRIP is an innovative, ERC-1155, non-transferable token (a soulbound token - SBT) that acts as a marker of a user's reputation, involvement, and credibility within the Soulbound community. 3.2 Key Features
Non-Transferable: Ensures that reputation is genuinely earned and not transferred or manipulated.
No Monetary Value: DRIP can't be sold, ensuring its sole purpose remains as a reputation marker.
Unlimited Supply: Minted based on user interaction and achievements. No cap exists, allowing for an ever-expanding and active user base.
Gamification: Actions on the Platform are gated behind DRIP thresholds - the more you interact, the more content and functionality you unlock.
3.3 Earning DRIP
Users receive DRIP as a reward for various social interactions, such as:
Engaging with the community, including, but not limited to;
Posting content;
Reacting to content;
Posting Stickers;
Creating Stickers;
Moderating the Platform.
Achieving milestones within the platform. (Gamification objectives)
Amount of content created.
Amount of total posts, stickers, comments, interactions.
Having a trending sticker.
Consistent positive contributions and interactions.
Community-driven moderation where users earn DRIP for moderating.
4. Conclusion
The dual-token system of The Soulbound Platform ensures a balanced and robust ecosystem where users are incentivized for both consumptive actions (via SBX) and social/reputational contributions (via DRIP). This model not only promotes engagement but also ensures a sustainable revenue stream for the platform's continual development and expansion.
