Soulbound Token

A soulbound token (SBT), or non-transferable token, is a type of NFT (non-replaceable token) that is issued in only one copy and is permanently tied to a single blockchain address.

This token cannot be transferred or sent to another blockchain address and is only accessible to the owner of that address. SBTs can be used for social rating, DAO management, airdrops, proof of ownership and identity.

The idea of the SBT was proposed by Vitalik Buterin, the founder of Ethereum

THE SBT TOKEN ON THE ZEUS EXCHANGE PLATFORM IS IMPLEMENTED AS A SEPARATE SMART CONTRACT COMPATIBLE WITH THE ERC721 STANDARD

This token can be integrated with other smart contracts in the future.

The SBT token on the ZEUS Exchange platform performs many important functions:

• PERSONAL USER ACCOUNT: the SBT is the core of each user's personal account on the platform, providing secure and authentic identification.

• BACKBONE OF THE RECOMMENDER SYSTEM: the SBT serves as a technical solution for the reliable implementation of the recommender system and ensures the accurate tracking and accumulation of rewards.

• CONVENIENT STORAGE OF TRADING HISTORY: the SBT serves as a reliable storage for the entire trading history.

• REWARD STATUS FOR SYSTEM USERS: the SBT also serves as a tool for awarding reward status to users who meet certain conditions for this status.

• ACCESS TO VOTING FUNCTIONS IN THE PROJECT IN THE FUTURE: the SBT serves as a key to access voting functions in the project in the future.

Thus, on the ZEUS Exchange platform, the SBT not only ensures the security and uniqueness of the account, but also plays a role in creating incentives for participants, provides convenience in maintaining trading history, offers premium features, and secures future participation in voting processes.