SBT 002: SBT storing the statistics of FLM exchanged.

Started by asawale, Aug 06, 2023, 04:17 PM

Previous topic - Next topic


When Flame Token (FLM) is exchanged for FDT, SBT 002 is minted which is the record the statistics of the FLM exchanged. One SBT is minted for every 10 FLM exchanged for FDT. Aside from increasing the voting quantity and strength, holding SBT 002 qualifies its holders for future rewards in the FireDAO ecosystem.


SBT 002 is a special type of Soulbound Token (SBT) in the FireDAO ecosystem. This particular SBT is associated with the exchange of Flame Token (FLM) for FDT (FireDAO Token). Here's a breakdown of whatPurpose: SBT 002 is minted as a record of the statistics related to the exchange of FLM for FDT. In other words, it keeps track of how much FLM has been exchanged for FDT within the FireDAO ecosystem.

Minting Process: SBT 002 is minted based on a specific ratio. It appears that one SBT 002 is minted for every 10 FLM exchanged for FDT. This means that the more FLM you exchange for FDT, the more SBT 002 tokens you can earn.

Voting and Influence: Holding SBT 002 likely increases your voting power and influence within the FireDAO community. The more SBT 002 tokens you have, the greater your say in decisions and governance matters.

Future Rewards: Importantly, holding SBT 002 qualifies you for future rewards within the FireDAO ecosystem. These rewards might include incentives, bonuses, or benefits for actively participating in FireDAO activities and decisions.

Ecosystem Engagement: SBT 002 encourages active engagement within the FireDAO ecosystem. It rewards users for participating in the exchange process between FLM and FDT, which can contribute to the growth and development of the ecosystem.

Transparency: Since these tokens are blockchain-based, all exchanges and statistics related to FLM and FDT are transparent and verifiable.

In summary, SBT 002 serves as a valuable component within the FireDAO ecosystem, rewarding users for their involvement in exchanging FLM for FDT and increasing their influence and potential for future rewards. It's an example of how blockchain technology can be used to create a transparent and incentive-driven ecosystem. this entails:


SBT 002 is a special token in FireDAO. It keeps track of exchanges between Flame Token (FLM) and FireDAO Token (FDT). You earn it when you exchange 10 FLM for FDT. Having more SBT 002 tokens gives you more say in FireDAO decisions and potential future rewards. It encourages active participation and is transparent due to blockchain technology. This shows how blockchain can create transparent and rewarding systems in FireDAO.


do you know guys if we can already check the number of SBT 002 tokens we possessed if we have already exchanged FLM for FDT? or maybe, its not yet possible, a bit confused :)