Masa Finance has announced that its soulbound tokens will be soon available on Coinbase’s Base network. The tokens allow users to link identifying and reputational characteristics to their wallet addresses, enabling credit underwriting on the blockchain. The announcement was made on April 4 by Masa Finance.
The Soulbound Token protocol was previously released by Masa for Ethereum and Celer. According to Masa, the protocol can be used for multiple applications including decentralized captcha bots, membership badges, loyalty programs, human-readable domain names, and more.
The company will launch a Base SBT Developer Toolkit in the coming weeks that will include a quickstart guide, software development kit, Masa command line interface, REACT developer tools, and examples of building applications using Masa soulbound tokens, to support the seamless deployment and interaction with SBTs on Base.
Coinbase launched its Base Network testnet on Feb. 23, which it plans to use as an optimistic rollup layer 2 for Ethereum. On March 23, the company issued a Request for Builders, asking developers to create several protocol types for Base, including an on-chain reputation system. In response to this request, Masa announced that it began developing a Base version of its soulbound protocol.
The Ethereum community has expressed bullish sentiment towards the creation of the Base Network, hoping for greater onboarding of Coinbase users to Ethereum. In an interview with Bloomberg Radio, Coinbase CEO Brian Armstrong claimed that “centralized players” on Base will need to implement some form of identity verification for users.
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