Soul Bound NFTs ARC

[joe-p]

Prize Bounty

1st Place - 10,000 ALGO

2nd Place - 7,500 ALGO

3rd place - 5,000 ALGO

Challenge Description

Soulbound Tokens (SBTs) were proposed in May 2022 by economist & social technologist E. Glen Weyl, lawyer Puja Ohlhaver, and Ethereum creator Vitalik Buterin. SBTs are a primitive that are non-transferable tokens representing credentials and are linked to ‘souls’, a type of address that establishes provenance. This tokenized representations includes often traits, features and achievements that make up a person or entity- Souls can issue and attest SBTs to other Souls; so for example a club or membership represented by one Soul) could issue a SBT certifying that a project or competition or event has been completed or attended for that Soul. As of now, souls cannot be traded for value but must be earned or achieved and cannot be transferred or sold.

For this challenge write up and define a technical arc standard for deploying soul on algorand. To see existing ARCs, you can refer to https://arc.algorand.foundation/. Please do not submit a PR on the ARC repository. After judging if the winner is deemed to be a good starting point for an ARC a PR can be made.

Submission Requirements

A valid submission will include the source code via a Github repository linked to your Gitcoin submission, a recorded demo and an article that explains how the application works.

It is expected that most bounty challenges will be won by fully functioning submissions, however, in certain cases, where there is a higher degree of difficulty, projects and payouts will be assessed on progress made.

The project submission deadline is 17:00 EST on Monday the 22nd of August.

Judging Criteria

There will be a quadratic community voting element to the judging process that will commence shortly after the project submission deadline; this will close at 17:00 EST on Friday the 26th of August.

Four judges from The Algorand Foundation will also assess each project submission by Friday the 2nd of September. The following criteria will be used to assess projects:

• IMPACT & USEFULNESS: How impactful and useful the submission is in the Algorand ecosystem as a whole
• ORIGINALITY, CREATIVITY & INNOVATION: How new and novel the submission is versus existing technologies
• MASS USABILITY: How feasible is the idea & how adaptable is it across other integrations
• TECHNICAL DIFFICULTY: What is the level of skill or knowledge required to build the submission
• CLARITY: How clear or easily understood the documentation, examples and pitch video is
• TEAM DIVERSITY: How diverse are the team’s skill sets & what is the quality of the team formation

Winner Announcement Date

Winners will be announced on Wednesday the 7th of September, with payouts to be completed no more than one week thereafter. Ecosystem Funding may be issued at the discretion of the Algorand Foundation to retrospectively advance high potential projects.

Resources

• https://developer.algorand.org
• https://developer.algorand.org/docs/get-started/dapps/
• https://developer.algorand.org/docs/get-details/asa/
• https://developer.algorand.org/docs/get-details/atc/
• https://developer.algorand.org/docs/get-details/dapps/smart-contracts/
• https://github.com/algorand-devrel
• https://discord.gg/Algorand

[gitcoinbot]

Issue Status: 1. Open 2. Started 3. Submitted 4. Done

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This issue now has a funding of 22500.0 ALGO (7621.99 USD @ $0.34/ALGO) attached to it.

• If you would like to work on this issue you can 'start work' on the Gitcoin Issue Details page.
  • Want to chip in? Add your own contribution here.
  • Questions? Checkout Gitcoin Help or the Gitcoin's Discord
  • $1,003,477,914.65 more funded OSS Work available on the Gitcoin Issue Explorer

[gitcoinbot]

Issue Status: 1. Open 2. Started 3. Submitted 4. Done

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Work has been started.

These users each claimed they can complete the work by 20 hours from now. Please review their action plans below:

1) drew7wonders has started work.

I will try to create desired SoulBound NFT tokens 2) hathoriel has started work.

A "Soul Bound NFT" is an Algorand Standard Asset (ASA) controlled by a Smart Contract that exposes methods to create, configure and destroy the asset. 3) mawut0r has started work.

A technical Algorand Request for Comments (ARC) standard for deploying soul on the Algorand blockchain. 4) juweber99 has started work.

Soulbound NFT ARC 5) jupiterxiaoxiaoyu has started work.

Soulbound tokens (SBT) are non-transferable, non-fungible, publicly-verifiable digital tokens that can act as a type of CV for web3 users, showing an individual’s memberships, credentials, and affiliations. In order to build a great sociality on Algorand, SBTs are crucial. 6) ikalonji has started work.

Techincal document on the implementation of Soulbound tokens on the Algorand blockchain with a sample application based on the implementation document. 7) freddyblockchain has started work.

This project deals with "Soulboundable NFT's" which are NFT's that can be transfered and soulbounded. I will create an arc describing the definition of a soulboundable NFT, and a smart contract, that can transfer and soulbound a NFT. 8) matifalcone has started work.

Parsl is a technology company which serves the global cannabis industry by developing the software used for inventory management, traceability, compliance, etc. helping the businesses to save time and money.

We’ve recognised a gap in the market when it comes to how cannabis businesses interact with financial institutions. The uncertain legal status that surrounds the cannabis industry has led to higher costs for patients, which exist because of the burdensome compliance requirements a cannabis business needs to deal with, but which also affects those who serve them, including banks, payment processors and other financial institutions.

We believe that we can fix this with the use of Soulbound Tokens. This hackathon submission tells you how.

Learn more on the Gitcoin Issue Details page.

[Hathoriel]

For this challenge write up and define a technical arc standard for deploying soul on algorand. The arc repo can be found here.

Hi i want to work on the PR on the hackaton, but I dont understand this sentences. Where is arc repo? What is arc standart? Could you please provide more information about it? Thanks. 😊

[joe-p]

@Hathoriel - The link was missing so thanks for pointing that out! Here is the link to the ARC repository: https://github.com/algorandfoundation/ARCs

ARC stands for Algorand Request for Change. They are analogous to RFCs or Ethereum's ERCs. The idea is that they set a standard of practices that other developers can follow to implement some sort of idea. In this case, we basically want bounty developers to come up with a way to implement soul-bound NFTs and outline that process in the format of an ARC.

[gitcoinbot]

Issue Status: 1. Open 2. Started 3. Submitted 4. Done

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Work for 22500.0 ALGO (6668.66 USD @ $0.3/ALGO) has been submitted by:

1. @mawut0r
2. @jupiterxiaoxiaoyu
3. @hathoriel
4. @freddyblockchain
5. @matifalcone
6. @ikalonji

@joe-p please take a look at the submitted work:

• PR by @ikalonji
• PR by @matifalcone
• PR by @freddyblockchain
• PR by @hathoriel
• PR by @jupiterxiaoxiaoyu
• PR by @mawut0r

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• Learn more on the Gitcoin Issue Details page
• Want to chip in? Add your own contribution here.
• Questions? Checkout Gitcoin Help or the Gitcoin's Discord
• $1,003,682,606.25 more funded OSS Work available on the Gitcoin Issue Explorer

[JupiterXiaoxiaoYu]

Hi, I wanna know if "a recorded demo and an article that explains how the application works" in the submission requirement are necessary for this challenge

[polymawutor]

Hello @joe-p posting my submission here once again since I can't edit my submission on the gitcoin bounty page.

ARC for Soulbound NFTs - https://github.com/MAWUT0R/ARCs/blob/main/ARCs/arc-0020.md