BAB is crazy, but many people still don’t know the two new forms of Token after NFT, claiming to be able to change the world?

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Author: Five Fireball Leader / Source: Vernacular Blockchain


This is the original 1756th issue of the vernacular blockchain

Author | Five Fireball Leaders

Produced | Vernacular Blockchain (ID: helloBTC)

To talk about the two acronyms that have been very popular recently in the circle, I think SBT and SFT should both be on the list.

If you’re not already familiar with these two acronyms, you’re probably stuck.

So come and find out!


SBT – Soulbound Token – Soulbound Token

In fact, many readers know this, or at least have heard of it, because this is a concept proposed by V God a few months ago. At that time, a paper “Decentralized Society, Looking for the Soul of Web3” caused the whole network to respond to this The concept has made a lot of interpretation and analysis.

The old iron who has not seen it is strongly recommended to read it first, and make a super short introduction here.

Simply put, it can be understood as an NFT that cannot be transferred, or it is very similar to the “soul binding” equipment you picked up after the copy in “World of Warcraft”.

What’s the use? There are more uses… For example, as the activities on the chain become more and more abundant in the future, your educational background, work income, consumption level, credit situation… All in all, “Prove who you are, what you have done, and what you have achieved. Which achievements, your relationship network…”, you can use this SBT, the most similar SBT use case in the circle is POAP, such as the participation certificate medals – POAP obtained from participating in Project Galaxy activities.

However, the problem is that there has never been a standard for SBT, unlike ordinary ERC20, or NFT’s 721, which has a clear technical definition and format specification , so everyone is basically facing ERC721 or 1155. Magic change, isn’t it fixed on your account and not transferable? As a result, programmers from all walks of life have their own magical powers. Some do not allow pending orders in the program, some cannot buy pending orders, and some directly delete the Transfer function… The direct consequence is that each “SBT-like” implementation is separate. , the standards are completely inconsistent, and there is no interoperability, so the composability characteristic of Defi is completely lost.

So why is it hot again recently? Because our faucet CEX Mou’an has shot again! Since there is no unified standard in the industry for the time being, Mou’an, as a Cex leader, will set an example and show you the usage of SBT – Dangdangdangdang! After BNB, we welcome BAB!

To put it bluntly, BAB is Binance’s SBT. It is a “soul certificate” for users to complete KYC. It basically has all the main features of SBT – non-transferability, uniqueness of only one account, revocability… The first in BNB Chain (ie the original BSC chain) enabled.

Then, it is said that a big game of Binance began…

First, 14 projects announced to provide various benefits for BAB holders, including but not limited to, free airdrops, NFT, lottery, game privileges, KYC-free…

And you think, now the first batch of projects has been airdropped, even if it is only 10 or 20U, but other projects are not supported, it is easy to lose users? So I believe that soon, more BSC projects will support BAB airdrop benefits and the like, and then promote more BAB to be minted… Now looking at the data, it has exceeded 320,000 BAB.


Thinking a little further, what is Defi currently wanting to do but unable to do? Unsecured loan!

Why can’t it be done? Because there is no perfect DID and recovery system.

So what if your DID is bound to your Binance account KYC and assets?

Of course, I just thought about it, but anyway, BAB opened a door for this possibility, and I suggest you pay more attention to the follow-up development of SBT and the Binance version of SBT-BAB.


SFT – Semi-Fungible Tokens – Semi-Fungible Tokens

What is this?

This thing is incredible, let me tell you, looking back in a few years, maybe you will realize its importance, that is, the ERC3525 token standard.

What’s even more incredible is that this standard is still created by our Chinese team. You must know that there are a lot of EIP proposals on the ETH side, but there are very few that have actually become ERC standards. If you don’t believe me, count your fingers, you can come up with How many come? Is it basically the same as ERC20, ERC721, and ERC1155?

ERC3525 is expected to become the next “common ERC token standard”.

What is he doing?

As its name suggests, semi-homogenized tokens are between ERC20 and NFT721.

Why have such a thing?

Because in some scenarios, you will find that it is not suitable to use ERC20, it is not suitable to use 721, and even 1155 cannot meet the needs.

For example, if a bond is on the chain, this thing must not be ERC20, it must be NFT!

But in theory, two 50-yuan bonds with the same maturity date can be easily combined into a 100-yuan bond in the real world. This NFT can be difficult.

With SFT, the bond can be split synthetically.

Another example is that there will be masterpieces like World of Warcraft on the chain in the future, and the various equipment combinations in it will be relatively “inflexible” to express with NFT. With the ERC3525 standard, the combination of equipment, land, etc. will be easy to split. too much.

And what about the comparison with ERC1155? The founder, Mr. Meng Yan, gave an example, and I just copied it and moved it.

“E-books, an e-book can have multiple original copies.

If you use ERC-1155 to issue 100 eBooks, then the 100 copies of the eBook must be exactly the same, and they must be exactly the same for the entire life cycle of the future, and there cannot be any difference.

But if one day, you suddenly find that the buyer of one copy is Ma Yilong, which makes this book different from the other 99 copies, is there any way to take this book out and make it a “Ma Yilong” What about treasured books? no. In ERC-1155, Ma Yilong shared the same book with 99 other buyers, and he was only one of 100 identical reading cards.

But if you follow my advice and use ERC-3525 from the beginning, then congratulations, the Ma Yilong Collector’s Edition can be different from the other 99 books . Ma Yilong can stamp it with his book stamp, write a postscript, and lend it to his friends Peter Thiel and Larry Page to consecrate it. In this way, the book becomes unique.

You see, these are some usage scenarios of ERC3525. Indeed, at the current stage, there is not that much demand for these scenarios, but with the further development of the blockchain, there are more and more on-chain activities, and more and more The more assets under the chain are connected, the more flexibility is required for the expression of many assets or scenarios. 3525 is prepared for this future.

For example, the SBT or DID mentioned above, if you simply use NFT to do it, if you want to achieve “Sesame Credit” on the chain, it is difficult for NFT to perform flexibly depending on the score. With ERC3525, there are many more options for the presentation of SBT.

So don’t be too surprised to see SBT in the form of SFT in the future, and don’t be confused about the meaning behind these two abbreviations!

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