Soulbound Tokens (SBTs) are a unique development in the blockchain and cryptocurrency industry. The idea of creation SBTs was actually thought up by Vitalik Buterin, the co-founder of Ethereum. He wanted to make digital identity more secure and trustworthy.

Nomis Scores as SBTs changes how user engagement is measured and used, unlocking personal offers, Discord roles, and even eligibility for airdrops. How cool is that, exactly? Let’s explore the value SBTs bring to users and projects within the whole web3 realm.

Soul-Bound Tokens: The Reputation Representation

SBTs represent non-transferable, individual-specific assets. Unlike traditional tokens, SBTs are permanently linked to a single owner and cannot be transferred once issued.

They are akin to digital certificates that can include a wide range of data from academic achievements and employment history to social connections and community participation. These tokens are ‘soulbound’ to a digital wallet and are designed to be immutable and non-transferable, ensuring that the token remains with the individual to whom it was issued.

The adoption of SBTs can streamline various processes such as onboarding, KYC procedures, and access to services, reducing bureaucracy and the need for paperwork.

So, what are the use cases?

• SBTs can serve as a robust method for verifying identities in a decentralized manner, eliminating the need for central authorities and reducing the risk of fraud.

• It can represent voting rights or membership in DAOs, ensuring that governance structures are based on verified identities and contributions.

• SBTs can be a part of personalized rewards and Loyalty Programs — on the one hand, tokens represent achievements and on the other, it unlocks special privileges.

Finally, it can be a part of reputation systems. In DeFi and other blockchain ecosystems, SBTs can be used to build reputation systems where users’ historical transactions and interactions contribute to their trustworthiness and credibility.

Nomis Score: A Basic Reputation SBT

That exactly what Nomis Scores are. They serve as a digital representation of a user's active participation and loyalty within blockchain ecosystems.

Nomis SBT collect users’ data within 50+ blockchains. The team utilizes an analytical hierarchy process & pairwise comparison method and AI-driven mathematical models that evaluate wallets based on over 30 parameters and assign a Reputation Score from 0 to 100. All of this — based on users’ previous onchain activity.

To become a Nomis Score holder and own an SBT, simply obtaining the Score is not enough. It is necessary to mint it. SBTs are NFTs, and the key distinction is that an SBT will always belong to one person.

When you mint your Nomis Score, it means that the NFT associated with your onchain activity is held in your wallet. However, it is important to remember that every onchain action you take will change your Score on that specific blockchain. Consequently, you must update your Score and mint it again. This process results in a brand-new Score and a brand-new NFT, which will be added to your wallet.

A Catalyst for Innovative Community Engagement

By quantifying activities such as transactions, governance participation, and other ecosystem interactions, Nomis Score offers users a tangible metric of their engagement.

This visibility is crucial as it allows users to gain recognition and potentially earn rewards based on their contributions. Such rewards could range from airdrops to exclusive access to new features or services, thereby incentivizing sustained and meaningful engagement.

Nomis Score epitomizes the potential of blockchain technology to innovate beyond mere financial transactions. For users, it offers recognition and potential rewards, while for projects, it serves as a strategic tool for community engagement and management.

By aligning user activities with ecosystem rewards, Nomis Score could well be a cornerstone in the next wave of blockchain community development, setting a new standard for how user contributions are valued in the digital age.

Get, Mint, Update: Why Nomis Scores are a must-have in crypto

As the web3 continues to evolve, the issue of Sybil attacks remains a significant challenge. Nomis Scores aka Reputation SBTs designed to capture and represent user reputations could play a crucial role in mitigating these threats and transforming the landscape of digital interactions and trust.

One of the primary benefits of Reputation SBTs is their ability to provide a robust and immutable record of an individual’s interactions and reputation within the network. This capability is crucial in combating Sybil attacks, as it ensures that each identity is unique and backed by a verifiable history of actions. By making it more resource-intensive and less attractive to maintain multiple false identities, Reputation SBTs enhance the overall security of the web3 ecosystem.

Minting Nomis Score allows users to:

• Prove their contribution to the project and be rewarded. If a user has a higher Reputation Score, it serves as evidence that they have made significant contributions to the project. This score acts as a clear indicator for the project team to acknowledge and reward this user's efforts more than others.

• Formally record their onchain activities and interactions. Thus capturing a holistic view of their digital identity and reputation. As Nomis Scores represent a user’s onchain activity, it naturally builds a layer of trust and credibility.

As more projects in the supported ecosystems: Ethereum, Polygon, zkSync, LayerZero, etc. adopt the Nomis Protocol, users can unlock personalized offers and rewards from projects by minting Scores: gain voting power based on your contribution, get score-gated access to communities, among other benefits including potential airdrops!

The Web 3 Transformation: Mint Reputation SBTs to Enhance Trust in the Crypto Industry

Reputation SBTs enhance trust, security, and community engagement in decentralized networks. They link reputation to blockchain identities, incentivizing positive behavior and active participation.

Users contribute constructively to maintain or enhance their reputation, leading to more sustainable and positive community dynamics.

Nomis Scores represent a significant shift in understanding digital identity within blockchain ecosystems. By actively engaging and contributing to the community, your efforts are recognized and become integral to your digital persona. As Web3 evolves, those with higher Nomis Scores might find themselves better positioned to influence and participate in new opportunities.

Joining the Nomis community allows you to be at the forefront of this transformation, shaping the future of blockchain interactions with every action you take. If you value transparency and trust, exploring what Nomis Scores can offer could define your role in the digital world.

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Find more about Nomis: Visit Nomis.cc

Find out how Nomis works: Why Your Nomis Score Is So?

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Learn more about Nomis wallet scoring methodologies: Nomis White Paper