Our innovative price discovery protocol and metaverse governance mechanism ensure the value of your social journey, offering limitless possibilities.

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.

1. Trading process: Pump Game under the equivalent auction rule:

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:

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;

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”.

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.

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.

2. NFT asset price change: Bonding Curve creates an upward fomo effect.

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%.

3. Revenue distribution: social version of “Liquidity Mining”, incentive to spread and scale up

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.

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.