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Courage

Recently, Soulcial launched its V2 version, along with the Pump Epoch campaign. Soulcial introduces a new design with “Social Behavior Trait Index” (SBTI) and Pump Game. 
More Dimensions, Discover More Valuable People 
Soulcial introduces the “Social Behavior Trait Index” (SBTI), which tries to explore the value of a Web3 user from multiple dimensions more comprehensively: 
For example, Influence represents the influence on social media; Connection means the depth and breadth of user's social network connections; Energy reflects the level of activity in on-chain and offline engagement; Wisdom shows whether the user actively participates in community governance; Art directly shows the user’s NFT holdings, and Courage displays the frequency and scale of on-chain interactions. 
The above six dimensions basically cover all aspects of behavior in the Web3 world, and also reflect the user’s unique “on-chain personality”. 
At the same time, based on the personality and behavior traits evaluated by the above six dimensions, Soulcial will generate a unique Soulcast NFT for each participating user with the help of AI co-creation. 
<img src="https://cdn.thebittimes.com/images/2023/12/07/1701929509.webp" alt="" width="800" height="452"> 
What’s more interesting is that the system will also recommend other users who are similar to you in six dimensions based on your personality and behavior traits, and show the matching degree. In addition, you can also actively use the connect function to establish connections with like-minded people. 
After purchasing the NFT of another user, you can unlock the function of one-to-one chat with him/her, and further deepen the connection. At the same time, if you participate in the purchase of NFT but fail to buy it, you can also enter the group created by the NFT user and become a group member. 
Pump Game, A New Asset Pricing Model with Differentiation 
Soulcial adopts a combination of “Equivalent Auction + Liquidity Incentive + Bonding Curve”, which makes obvious innovations in the way of asset appreciation and attracting user participation. 
<ol> 
 <li style="font-weight: 400;">Trading process: Pump Game under the equivalent auction rule:</li> 
</ol> 
First of all, there is the equivalent auction, which corresponds to the trading process of NFT in Soulcial, which is also called Pump Game in the product: 
<ul> 
 <li style="font-weight: 400;">Initial pricing: The user’s Soulcast NFT is rated by the system, and the six-dimensional scores will have different levels, and the initial price is calculated based on the level data;</li> 
 <li style="font-weight: 400; text-align: center;"><img src="https://cdn.thebittimes.com/images/2023/12/07/1701929540.webp" alt="" width="695" height="640"></li> 
</ul> 
<ul> 
 <li style="font-weight: 400;">Price discovery: If you think that the user is valuable, his NFT has potential for appreciation, or want to unlock the right to talk to the user, you need to form a group of four and participate in a Pump Game — 4 people offer the same purchase price and start a round of “Equivalent Auction”.</li> 
 <li style="font-weight: 400; text-align: center;"><img src="https://cdn.thebittimes.com/images/2023/12/07/1701929561.webp" alt="" width="782" height="876"></li> 
</ul> 
<ul> 
 <li style="font-weight: 400;">Result announcement: A random number will be generated on the chain, and only one of the 4 people will be lucky enough to win and successfully buy the user’s NFT.</li> 
</ul> 
<ul> 
 <li style="font-weight: 400;">Next round: The successful bidder in this round can choose to hold the NFT, or start the next round of equivalent auction process, which is also a pump game with a 4-to-1 chance of winning, but the NFT itself will appreciate in subsequent rounds.</li> 
</ul> 
It is worth noting that if you already hold NFT, you can participate in Pump Game and get the system’s vSOUL points reward, and different levels of NFT correspond to different reward multipliers. 
<ol> 
 <li style="font-weight: 400;">NFT asset price change: Bonding Curve creates an upward fomo effect</li> 
</ol> 
Similar to other social products, the role of Bonding Curve is to control the price of social assets through some variables. But the special thing about Soulcial is that the NFT price controlled by Bonding Curve will only rise, not fall. 
This is also why the auction process is called “Pump Game” — every round of user price discovery for NFT will make its price rise; and multiple rounds of rise will attract the attention of others, thereby expanding the influence of a user’s NFT and making more people participate in the bidding process. 
In the current version of Soulcial, the price increase of NFT after each round of bidding is 10%, and it will be upgraded to a dynamic price increase mechanism in the future, which can automatically determine the price increase based on the market supply and demand curve, but the minimum will not be less than 10%. 
<ol> 
 <li style="font-weight: 400;">Revenue distribution: social version of “Liquidity Mining”, incentive to spread and scale up</li> 
</ol> 
Equivalent auction means that different people provide the same amount of ETH to participate in the auction, which is essentially providing liquidity. If you fail to win, your ETH will be returned in full, and on this basis, the system will also compensate you with 4% of the NFT auction price as a reward for providing liquidity. 
<img src="https://cdn.thebittimes.com/images/2023/12/07/1701929584.webp" alt="" width="752" height="619"> 
This means that in an NFT transaction, even if you don’t bid successfully, the other 3 people can get 4% of the transaction price as commission, and they can also return the bid principal; 
At the same time, this also means that choosing to participate in Pump Game in the early stage and discover more valuable NFTs becomes a profitable business. Once you participate in the auction, you actually become another version of “Liquidity Mining” in social: 
Your participation plays a positive role in price discovery, and also facilitates the completion of NFT transactions. As a reward, the system will inevitably give you commissions, just as LPs who participate in market making in DeFi will get returns. 
But unlike DeFi, in Soulcial, the APY of liquidity mining will not decrease under the condition of continuous market making, but will increase as the NFT transaction price increases (4% unchanged, but NFT transaction price increases). 
Finally, we can summarize the overall revenue distribution method of Soulcial: 12% (4%*3) of the NFT transaction price goes to the other 3 people who did not bid successfully, 4% goes to the NFT creator, and the protocol charges 4% fee, totaling 20%. 
From Points to SOUL Tokens, A Community of Shared Interests between Users and Projects 
According to the rules announced by Soulcial so far, vSOUL points can be converted into the project’s SOUL tokens. 
Since SOUL will be airdropped to all users in full according to different seasons, and there is no reservation or early rounds, the value of this fair launch token depends entirely on the consensus and participation level of users on the project. 
<img src="https://cdn.thebittimes.com/images/2023/12/07/1701929625.webp" alt="" width="800" height="363"> 
But the ratio of vSOUL to SOUL tokens that can be exchanged will decrease over time, which means that early participants have higher returns; at the same time, from the perspective of project dissemination, the expected returns in the early stage can stimulate the start and expansion of social networks; 
From a long-term perspective, 100% fair launch actually makes the project a full-shareholding mode. 
The development of Soulcial, the value of SOUL tokens, depends on whether all users are active and participate, and essentially makes a community of shared interests with binding interests. To seek benefits, you must participate in the project earlier and more actively, while obtaining value, increase the volume of the project.
Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/soulcial-unveils-v2-with-social-behavior-traits-index-sbti-and-pump-game-revolutionizing-nft-trading-tbt72869.html">https://thebittimes.com/soulcial-unveils-v2-with-social-behavior-traits-index-sbti-and-pump-game-revolutionizing-nft-trading-tbt72869.html</a>

Soulcial Unveils V2 with Social Behavior Traits Index (SBTI) and Pump Game, Revolutionizing NFT Trading.

TheBitTimes

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