Hello everyone! Welcome to the weekly Thursday Community Call Thread. We really want to engage our community to think and learn about new topics in these calls. Unfortunately not everyone gets a chance to attend the call and those that do don’t always get a chance to speak due to time constraints.
There is value in continuing the types of conversation we start in these calls. We don’t want the call to be the last time people engage with the topics addressed. We want to enrich your days with inspiration and open eyes to new concepts. These topics might be applicable to some of your works or spark a personal interest. It is our goal to facilitate new ideas and creative thinking through this thread.
Community Call Link: Otterspace and Soulbound Tokens - SCRF Community Call
I would definitely recommend watching this video due to the demo of the product and the questions asked!
Also, check out the pitchdeck here
This week’s community call was a presentation by Lukas Bierfreund, the Chief of Staff at Otterspace.
He gave a short presentation about the concept of EIP 4973 tokens (Non-Transferable or Soulbound Tokens).
Otterspace is trying to bring benefits of NTTs, or badges as they call them, to tokenized communities and DAOs. They have made a protocol and are building an accessible application to achieve this goal.
Starting off with a brief history of what badges are, Lukas explains that there are a lot of similarities between badges and soulbound tokens. Badges have been used for achievements, reputation, skills recognition, responsibilities, and permissions throughout history. They show expertise in a certain field or subject from work to games.
Badges are earned and not bought - hence the use of soulbound tokens. The value in them comes inherently from being earned, so they need to be created in such a way that they cannot be fabricated or transferred.
Badges are also made what they are in the context of an organization. They require recognition in some way to be worth what they are. They do not exist in isolation, just as reputation and responsibility do not.
Lastly, badges have always been simple at the core.
- Enable better membership models in DAOs and communities
- Build more nuanced systems of membership
- Offer non-financial rewards and recognition to stay away from the hyper-financialization of Web3
- Allow reputation
- Offer more nuanced governance mechanisms to move away from 1 token 1 vote systems
- Unlock permissions
Lukas described 4 separate buckets of uses for badges
- Membership and Incentives
- Access Management
- Education Credentials
- What kind of consequences might there be to automated badge issuance?
- What is the best method for dealing with someone who no longer deserves the badge?
- How can negative use cases be prevented?
- How do we avoid a world with too many badges?
If any of these spark your interest or you have other questions / thoughts, please discuss below!