• Masa and the Celo Foundation have announced their deployment of the Prosperity Passport, a Soulbound Token-powered web3 identity solution for Celo blockchain users and developers.
• The Prosperity Passport will enable users to unlock various on-chain tools and real-world utilities from a community of Celo projects.
• Masa Protocol enables developers to easily mint SBTs for a variety of use cases, significantly reducing complexity in aggregating, attributing and permissioning on-chain and off-chain attributes and data sources.
Overview
Masa, the first Ethereum Virtual Machine (EVM)-compatible Soulbound Token (SBT) protocol, has announced its deployment on Celo, a carbon-negative, EVM-compatible blockchain. This launch will enable more than 10 million unique Celo wallets to generate „Prosperity Passports“ with Soulbound Token technology to access on-chain tools and real world utility built by the mission driven Celo ecosystem.
Prosperity Passport
The Prosperity Passport is a web3 identity solution developed with the Celo Foundation’s Strategy & Innovation team that allows users to mint various Soulbound Tokens such as an authenticated user verification SBT, credit score SBT, community reputation score SBT and unique .celo domain name NFTs. These tokens can be used to unlock perks such as microloans or universal basic income from projects within the Celo ecosystem.
Soulbound Tokens
Soulbound Tokens were first proposed by Vitalik Buterin in his white paper titled “Decentralized Society: Finding Web3’s Soul” which envision a fully decentralized society utilizing non transferrable tokens that bridge on chain and off chain attributes. Masa Protocol makes it easy for developers to mint SBTs for various use cases while also enabling existing projects to integrate them into their Dapps and communities.
Celo Camp Batch 4 Winner
Masa’s partnership with the Celo Foundation dates back to 2021 when it won grand prize in the fourth batch of their camp program demonstrating its innovative approach towards building web3 identities using soul bound tokens.
Conclusion
The launch of Prosperity Passport marks another step forward in using soul bound tokens as an infrastructure layer for creating digital identities capable of connecting people with real world applications powered by blockchain technology.