💲Token Ecosystem

An innovative three-token design spanning multiple chains

We have crafted a unique and innovative three-token design for the PairedWorld ecosystem to harmonise real-world social engagements and decentralised technology and finance. This system, operating on the Ethereum blockchain, aims to rectify the anonymity and detachment often seen in traditional social platforms, promoting meaningful and rewarding interpersonal connections instead.

Each token has its unique attributes and roles.

1. SOUL (EIP-6239): This token serves as a unique digital identity for each participant within the ecosystem. Essentially, it acts as a reputation signalling badge, highlighting an individual's connection to and reputation within the community. They also function as SPARKs generators.

2. SPARKs (ERC-1155): These tokens, issued periodically to SOUL holders, are employed as catalysts for interactions within the ecosystem, specifically for creating and participating in real-life Meet-ups, fostering a sense of community and shared experience. This intermediate step solves the reputation token paradox, allowing individuals to monetise on their reputation, without losing it.

3. $PAIRED (ERC-20): This is the primary reward and utility token of our ecosystem, serving as the mechanism for rewarding contributions and facilitating various interactions within the community. It also has specific governance properties.

The integration of these three distinct tokens allows PairedWorld to create a balanced incentive and reward system that encourages both everyday participation and long-term community engagement. It ensures fluidity and flexibility in how users interact with the platform, providing different levels of rewards and responsibilities that cater to various user goals and contributions.