Masa broadcasts soulbound ID tokens for Coinbase’s Base Community

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Masa Finance’s soulbound tokens will quickly be accessible on Coinbase’s Base community, in line with an April 4 announcement from Masa Finance. The brand new tokens will permit customers to hyperlink figuring out and reputational traits to their pockets addresses, making credit score underwriting doable on the blockchain, the corporate stated.

Masa had beforehand launched its Soulbound Token protocol for Ethereum and Celer.

In its announcement, Masa said that the protocol can be utilized for all kinds of functions, together with human-readable domains, membership badges, loyalty applications, achievement badges, decentralized captcha bots, and extra.

It is going to launch a Base SBT Developer Toolkit inside the coming weeks that “will assist the seamless deployment and interplay with SBTs on Base,” which is able to embody a quickstart information, Masa command line interface, software program growth package, REACT developer instruments, and examples of the right way to construct functions utilizing Masa soulbound tokens.

Associated: Coinbase needs devs to construct inflation-pegged ‘flatcoins’ for ‘Base’ community

Coinbase is the biggest centralized crypto alternate in North America. It launched its Base Community testnet on Feb. 23, planning to implement it as an optimistic rollup layer 2 for Ethereum. On March 23, Coinbase issued a Request for Builders asking builders to create a number of protocol varieties for Base, together with an on-chain status system.

In response to this request, Masa started growing a Base model of its soulbound protocol, the corporate stated in its announcement.

The announcement of Base Community’s creation has contributed to bullish sentiment inside the Ethereum group, with some customers expressing hope that it’s going to result in larger onboarding of Coinbase customers to Ethereum. In an interview with Bloomberg Radio, Coinbase CEO Brian Armstrong claimed that “centralized gamers” on Base will have to implement some type of id verification for customers.