Soul

Definition of Soul

In Soul Society, the term 'Soul' is redefined as the highest concept, serving as a unique classification of fragments from daily life. These are organized based on their distinct characteristics and meanings. A Soul can include anything that's part of our daily life—actions, objects, or places—and it is composed of Quests and SBTs that represent its unique characteristic. Each Soul has a single owner who gains special rights and benefits within Soul Society. The initial ownership of a Soul is established through a 'birth event,' and subsequent ownership is determined through a bidding system.

Creation and Transfer of Soul Ownership

The initial creation of a Soul takes place during a special event. After that, ownership subsequently changes through a Soul Bidding system.

Soul Bidding System

Ownership of a Soul is decided through periodic Bidding system. However, winning a Soul involves more than just offering the highest bid; participants must also meet eligibility criteria and stake a sufficient number of pHONs.

Participation in Bidding

To participate in Bidding within the Soul Society, users must meet certain eligibility criteria. They are required to acquire SBTs by completing Quests associated with the Soul they wish to own and then enhance those obtained SBTs to a grade that is eligible for Bidding. This system allows not only users with a large number of pHONs but also those who are actively engaged and interested in owning a Soul to participate, contributing to a healthier Soul Society ecosystem.

Staking

To acquire a Soul, users must stake more pHONs than other potential bidders. Unlike traditional staking methods, where rewards are generated based on a predetermined interest rate, rewards in this system are accumulated in the Ecosystem Enhancement Fund. These accumulate whenever other users complete Quests associated with the Soul in question, and the Soul's owner can claim them at designated times.

Rewards for Soul Ownership

The owner of a Soul receives rewards based on the Quests that belongs to the Soul. When users receive rewards as a result of performing a Quest, a certain percentage is deducted from the rewards the users receive and given to the owner of the Soul. Therefore, owning a Soul with a high user engagement rate will earn you more pHONs.

Surrender of Soul Ownership

If desired, the owner of a Soul can choose to surrender their ownership. If the ownership is surrendered without going through the Bidding process, a certain percentage of the staked pHONs will be taken as a penalty and contributed to the Soul Society ecosystem. These collected pHONs are then used to fund events and activities for the benefit of Soul Society users.