SoulBound Token (SBT), since it was proposed by Ethereum founder Vitalik Buterin in 2022, has attracted the attention of the industry. Its huge future potential and wide application scenarios have attracted many practitioners.

Recently, Huobi, a well-known cryptocurrency exchange, has made bold attempts and innovations in the SBT field. Together with TRON and DMC Labs, it launched the Dominica Metaverse Bound Token DMBT (Dominica Metaverse Bound Token, DMBT for short).

DMBT is the on-chain identity that users choose to forge after going through Huobi KYC, which is used to prove that the holder is a verified Dominica Metaverse Digital Citizen (DMDC). As an SBT, DMBT is non-transferable, revocable, and unique.

It is reported that users who complete Huobi KYC-L3 identity authentication can apply for the Dominica metaverse digital identity DDID, and after becoming a DMDC, they can obtain the DMBT coinage qualification and carry out on-chain casting. At the same time, after paying a certain cost, you can receive the physical certificate of the Dominica Metaverse Digital Citizen ID Card DMIC (Dominica Metaverse Identification Card).

Using SBT directly as the user's identity certificate is one of the scenarios where SBT is applied. A credential is a high-level item that aggregates multiple certificates issued by itself. In this system, SBT realizes the function of decentralized identity DID. Similarly, as a verified DDID holder, it is expected to enjoy multiple benefits on-chain and off-chain that are mapped to the real world, including: it can be used as an online KYC certification tool for international digital asset trading platforms or financial service platforms in accordance with local laws and regulations; It can be used for the sharing of mainstream member rights and interests in physical consumption scenarios, etc. This also means that DMBT must forge a credible soul in the Web3.0 world.

In addition to Huobi DMBT, for example, Fair.xyz has cooperated with OpenSea to launch the soul-bound token Minter Token for NFT, allowing users to mint Minter Token for free based on any NFT they currently or once held; the digital asset custody platform Cobo Evolution, jointly launched by MetaMask and Gnosis DAO, helps users define their own digital identities and understand the latest industry trends... The interpretation of various SBTs and the subsequent technical implementations have brought new infrastructure, Technical standards, application forms.