Developers Forum for XinFin XDC Network

Jon McBee
Jon McBee

Posted on

Soulbound Tokens on XDC Network

I am creating this post to engage the XDC community and gauge interest in the creation of an XIP specifying the addition of Soulbound Tokens as an extension to the XRC-721 token standard.

For context on Soulbound Tokens on the Ethereum Network I recommend reading Vitalik Buterin's blogpost where he introduced the idea.

For context on implementation details I recommend reading EIP-5192, which outlines how Ethereum structured their proposal.

If you believe that extending the XRC-721 standard to include support for Soulbound Tokens would be either a good or bad thing for the XDC Network please comment below. If you are passionate about Soulbound Tokens and want to champion them please consider authoring an XIP on the topic.

If you have questions on mechanics of XIP creation please ask questions either here or on Discord.

Discussion (4)

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lokesh profile image
Lokesh

It is indeed important feature to implement

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xxxxx_xdc profile image
xxxxx.xdc

I think sbt will bring a useful utility to the web3 era!

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lokesh profile image
Lokesh

Recently, have gone through one post -> cointelegraph.com/news/japanese-go... , it gives an idea of bringing soulbound token so this cann be transferred or sold to others.

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mrblockchain22 profile image
Salomon Morales

This could be really interesting, especially as the network becomes more decentralized. One thing that comes to mind right now is node operators that support the network by running nodes. Each node has a unique "coinbase address" which is really an XDC address that represents that node. Each node can be awarded a Soulbound token(s) that represents a certain amount of votes (per node) which will allow you to have a bigger voice when it comes to voting on proposed changes on the network. Checks and balances can be put in placed as suggested in the article you linked to ensure they are not sold or transferred. Just a quick thought.