Masa SoulBound Project

pullorie (33)in #masa • 2 years ago

Introduction

As Masa pushed to create a proper worldwide bureau for credit, they discovered a basic unit identified as Identity was absent in the world wide web 3. In simple terms, a standard system of identification in the web3 that will aid compiling on-chain information, granting permission, including other features was lacking. Hence, version 2 design was thorough.

Besides Soul identity included in the protocol, Masa, as the first in web3, it has designed a soul naming feature.
It is already established that Identification is lacking although DeFi can be unlocked with web 3 wallet. When a proper system of identification does not exist, it results in dangers of hacking as user authentication is not verified. The soul identity feature addresses identity challenge by uniting one's wallet to its identity alongside authority rights, autonomy, as well as privacy protection to users.

Soul naming is a name specially designed for domains to authenticate the digital presence of a user. It is a web3 digital means of identification.
Soulname is used for unlocking a large range of functions in the web3 such as:

Souldrops which is soul's airdrop
Know your customer for Web3,
Identity authentication,
Decentralized finance loans,
Easily shared name domain, identification in web3
Sign-on for SBT
Whitelist sign-in for Non-Fungible Token, etc.

The Evolution of Masa

Masa project drives to strengthen its protocol as an exclusive identity and money system via soul names non-fungible tokens as an integral basis of identification, on-chain.

These names are locations easily read by man which links a user to its soul. The Masa launch will make it possible for users to receive names with special characters such as letters, numbers, and emoticons.

In similitude to several domain aids, the names that will have the greatest value will be rare are individual, tripartide, emoticons, and titles. These names are easily noticed, useful, then straightforward. Soul titles assists stoners in tracking their engagement, devotion, equal bonus percentages as well as hindering scams. Since soul naming is now the precept for web3 identification, these utilities will get unlocked:

Airdrops registration

Voting on DAO administration
Requesting for loans on decentralized financial systems
Accessing decentralized finance lending
Personalized worldwide web3 customization
Non-fungibles registration at one-click

Other functions would also be unlocked. Additional titles can be traded on open sea then bought on the system, Masa.

Partnership with Teller

Several products got initiated into web3. The most recent is a soul featured lending reservoir through incorporating Teller's partnership with Masa. A verified on-chain identity can be created by users worldwide using Masa soul's identification. From August a sum more than 200,000 got minted for identities. Those who hold Masa identity have the ability to link features of their data to worldwide web version 2 and 3 to design a credit report for www3 and also request loans on Decentralized financial systems with Teller support through
Holders of Masa soul identity can link attributes of their data to web2 and 3 to create a credit score for web3 and request for loans in DeFi systems on the Teller supported Lending reservoir.

Lending Reservoir (Pool)

This great innovation generates a means to get capital for individuals founded on-chain for identities which are autonomous. Both Masa project and its partner, Teller possess a common goal to assist unseen credit persons across the globe into developing an original identity which is used to gain access to money and loans. SBL removes obstacles accustomed to conventional loans and provides worldwide chances for stoners to slowly generate their credit capacity on-chain and record of repayment.

Update on Mainnet

Masa finance is celebrating its forthcoming mainnet by providing huge air drops to their stoners and minters as a gift of gratitude. Users are encouraged to register on Masa's allow list then be among the early persons to mint soul names. Doing this will make chances for minting precious names available to you before public awareness.

Mainnet gives capacity for stoners to:
Develop their SBI on Masa
Receive, mint NFT names
Start minting credit record for web3
Be among minters not more than 50,000 to receive airdrop
Make trades on OpenSea with soul titles.

Bug Bonus on Project Masa

Participation of Masa community is open for bug bounty. A 20% bonus gets offered as a unique incentive for users who get bugs submitted. For submitting a pull request or GitHub issue, users will get Bug bounty rewards from the pool.

Conclusion

The protocol was put together by a group of persons who desired to connect individuals with no access to advanced financial systems and economic privileges to the appropriate channels. Masa Finance is helping individuals get connected to global opportunities via web3 and Soulbound features.