Soulbound ID | Final Update
Last updated
Last updated
In August 2022, Stobox introduced Soulbound ID (SBID), a pioneering solution for linking personal data with a blockchain wallet in a decentralized environment. Over 14,000 users on the Binance Smart Chain adopted this early version. It showed us significant market traction.
However, the complexity of using an SBID as a login system in Stobox DS Dashboard V3 and the evolving regulatory requirements highlighted the need for an upgrade.
Two years later, the result is Stobox DID — a more robust, fully decentralized identity framework.
Stobox DID is now a core component of the Stobox V4 product architecture, also known as the Stobox 4. Seamlessly integrating with STV3, a protocol focused on regulated real-world assets, ensures that every transaction meets emerging EU MiCA guidelines and established global regulations related to securities and commodities. This shift reflects an evolution not only in technology but also in the underlying business model approach.
Based on the above, Soulbound ID will not be used on the Stobox 4 platform. It will be discontinued and replaced by Stobox DID.
SLX is the Soulbound ID Revenue Share token. With the transformation of the Soulbound project into Stobox DID, SLX is also evolving to align with this new direction.
All SLX tokens in your wallet will be converted to STBX, the Stobox company security token, at a 2:1 conversion rate. The SLX price is fixed at $2.50, reflecting its contribution to the ecosystem, while the STBX price is $5.00. This ensures continuity and adds value for SLX holders.
The conversion process is automatic, and you don’t need to take any action. Once the conversion is complete, all SLX tokens will be burned.
The final SLX dividends for Q4 2024 will be distributed in SOULB and USDT at the beginning of 2025. To claim these dividends, log in to the updated Stobox DS Dashboard using your existing credentials, navigate to the Claims tab, and follow the instructions.
As part of the transition to Stobox DID, the SLX purchase round on the Stobox DS Dashboard is being closed. SLX tokens will no longer be available for purchase, as we are discontinuing the Soulbound ID project and its associated functionalities.
With STBX tokenized equity, investors gain a secure and compliant stake in the Stobox enterprise, ensuring their interests are directly tied to the company’s performance. Tokenized equity not only provides streamlined access to dividends and other rights but also opens the door to secondary market trading, fostering liquidity and flexibility.
The SBID token is an identity token minted on your wallet address after being verified via Sumsub. It was previously used for logging into the Stobox DS Dashboard and some of our clients’ platforms.
With the transformation of the Soulbound ID project into Stobox DID, the website sbid.io will no longer be available. However, the SBID token will remain on your wallet address as a record of your identity verification. Since the system has evolved into Stobox DID, SBID tokens can no longer be actively used.
Your KYC data is securely stored with Sumsub and will be seamlessly integrated into the updated Stobox DS Dashboard. You will retain your verified status, and logging in will only require a few simple steps. Instructions are provided below in the text.
As part of this transition, we are discontinuing support for platforms that relied on SBID for login functionality. Moving forward, Stobox DID will provide a more secure, compliant, and user-friendly framework for managing decentralized identities.
SOULB is a utility token from the Soulbound ID project, which was used to purchase the SBID process and SLX tokens. However, SOULB will no longer serve these functions, as the SLX round is being discontinued, and SBID tokens are no longer available for purchase.
Now, SOULB can be used to buy STBX security tokens on the updated Stobox DS Dashboard, with a reduced minimum investment of just $50.
The SOULB pool at DS Swap will remain active, allowing users to continue buying and selling SOULB tokens as needed. This provides flexibility for those who may require additional tokens to meet the minimum investment requirements for STBX.
We strongly recommend withdrawing any SOULB tokens from Qmall and converting them into STBX on the Stobox DS Dashboard to take full advantage of this transition opportunity.
All collected SOULB tokens from conversions will eventually be burned, ensuring a streamlined transition process.
The Stobox DS Dashboard platform, previously using SBID for login, is undergoing a major transformation of Soulbound ID.
The Stobox DS Dashboard will be updated to a Pro Version, enabling login via email and password. Verified investors will also need their whitelisted wallet address to access the platform. This new system simplifies the login process while maintaining high compliance and security standards.
Additionally:
The SLX STO Private Community Round on the DS Dashboard will be closed and removed. However, your transaction history will remain intact for future reference.
How to Log In to the Updated Stobox DS Dashboard:
Go to assets.stobox.io.
Click the “Forgot password?” option.
Enter the email address associated with your SBID account.
Enter the confirmation code sent to your email.
Create a new password according to the provided requirements.
Connect your MetaMask wallet using the same address you previously used on sbid.io.
With these updates, the Stobox DS Dashboard will provide a seamless and user-friendly experience for managing your investments and interactions with tokenized assets.