SoulBound NFT

Achievement progression NFT

The Soulbound NFT is a full dynamic NFT that will record every contributor's allocated points, achievements, progress, and rating to their NFT. This dynamic NFT also serves as proof of good honesty and good deeds. The system is designed to reward honesty while maximizing integrity. The soulbound NFT consists of

Diligence Labs has implemented a sophisticated incentive system that leverages Soulbound and Dynamic NFTs to encourage and reward researchers based on their performance and reputation. These NFTs evolve to represent a researcher's achievements, and the "soulbound" nature of these tokens ensures a lasting record of their contributions while keeping the system honest and transparent.

Attachment point accumulation will lead to a level-up upgrade where a starter researcher level will be upgraded to the next level based on their accumulated achievement point. Every task completed will result in reward points for participants, These points could be used to upgrade their level or converted to an incentive and reward. The reward process will be randomized using chainlink VRP based on various attributes such as participants' honesty, achievement level, experience, time spent, and many others.

The dynamic and soulbound NFT also enables cross-chain voting power based on each NFT achievement level

Reputation-Based Incentive Mechanism: Diligence Labs employs a reputation-based incentive mechanism to encourage and reward researchers who demonstrate honesty, integrity, and high performance. In this context, a reputation refers to the standing and credibility of a researcher within the platform's community. A reputation badge will be minted as a soulbound after every successful report

Dynamic NFTs: The platform utilizes Dynamic Non-Fungible Tokens (NFTs) as part of its incentive structure. NFTs are unique digital assets that can represent various items or achievements in the digital world. These NFTs are dynamic, meaning they can change and evolve.

Upgrade of Researcher Achievement Score: The Dynamic NFTs are designed to upgrade a researcher's achievement score. An achievement score typically represents the researcher's contributions, work quality, and impact on the community. As they contribute and improve their performance, their NFTs will evolve to reflect their growing accomplishments.

Aligning Rewards to Performance and Reputation: This reputation-based scoring model is integral for aligning rewards with a researcher's actual performance and the reputation they've built over time. It ensures that those who consistently provide valuable insights and quality assessments are appropriately rewarded for their efforts.

Soulbound Dynamic NFTs: The use of "soulbound" Dynamic NFTs is exciting. "Soulbound" implies a strong connection between the NFT and the researcher, making it unique to them. These NFTs are a permanent record of a researcher's achievements and contributions to the community.

Recording Achievements and Updating Reputation Scores: These dynamic NFTs have the capacity to record a researcher's achievements and adapt or upgrade their reputation scores accordingly. This means that as a researcher continues to provide valuable input and enhance their standing in the community, their NFTs will reflect these changes, preserving the integrity of their reputation.

Cross-chain Voting Power

• Dynamic

• Achievement drop

• Upgradable

• Passport

• Degradation