SoonLabs has always been about driving adoption of decentralized technologies. We’ve focused on platform over point solutions to bring substance and structure to otherwise disparate, disjointed, and often incompatible solutions. So, as crypto searches for a Northstar to guide it out of this bear market, we’ve stayed on course to the same goal we’ve always tracked towards, mass adoption.
The background of our team has provided us a unique perspective on the crypto space. Where some felt that having even the smallest hint of centralization in your project was poison, we embraced a hybrid approach to provide a stable, scalable experience to the community, with as much decentralization as possible in the current IOTA network. 19,000 members and millions in transaction volume later and we’ve developed a community wide experience that others are now working to mirror.
As the IOTA Foundation takes us closer to full interoperability and decentralization through ShimmerEVM and IOTA 2.0, we are at an important inflection point. Past crypto projects have been hampered by their focus on creating huge ecosystems with almost identical service offerings from other projects. This focus on forks and copycats, has created a market of “too many choices” with not enough customers to sustain itself. Similar to what the internet experienced during the dotcom implosion.
A lesson crypto can draw from the dot com bubble is, USER EXPERIENCE TRUMPS ALL. Technology for the sake of technology only appeals to the most zealous supporter. We need to focus on the interests and needs of the user to break free of the current cycle. We cannot expect a different result by following the exact same playbook of every other crypto project in the industry.
To accomplish this goal the creators at SoonLabs would like to introduce you to our focus in 2023, our evolution into a modular Web3 platform OS. Today, we give you the BUILDAVERSE, an Ecosystem-as-a-Service for enterprise, NGOs, corporations, individuals, and anyone that is seeking to build a federation of communities around common interests or what we call a “Verse”.
In clearer terms for existing Soonaverse users, it’s a white labeled version of the platform you’ve come to love, that can be customized to the needs of each Verse.
Verses can be focused on anything that requires communities to collaborate, govern, and participate in markets. They can scale to any size, with staked $SOON as the underlying asset required to access the Platform OS, and the Shimmer network as its base layer. Verses will have the ability to create their own native token for governance, but process transactions in fiat and seamlessly convert to $SOON through an innovative platform integration we will detail in a future announcement.
The BUILDAVERSE is modular, so no particular module is required, but DAO-on-Demand (Spaces), NFTs, Tokenization, Reputation, and Voting represent the core feature set. For example, here is how a non-profit looking to create a Verse dedicated to environmental causes would leverage their core modules for an ENVIROVERSE.
Shimmer (eventually IOTA 2.0) is the perfect base layer: Feeless, scalable, and secure. It allows us to use a modular design, essentially a Web3 Operating System Kernel.
This Unified Experience Platform is designed to work seamlessly with different infrastructure configurations to provide value to any number of use cases. They can integrate through traditional Web2 platforms, ERP partners, centralized or decentralized infrastructure, and our decentralized dApp store, what we commonly refer to as Service Modules.
Any Verse can integrate with any Service Module. We have approximately 21 modules in production, planned, or in talks to deploy in the dApp store in 2023 and expect to greatly expand this program once ShimmerEVM is launched early next year.
The most powerful part of this new product is IT’S ALREADY BEEN BUILT and tested over the last year through the operation of VERSE ONE, the SOONAVERSE, which will be feature complete by Q1 of next year once on-chain voting and smart contracts are finalized. Our product was designed specifically for this type of scalability due to how it was engineered and designed.
We scoured the crypto space for comparable projects and there were simply no other projects that have built the kind of broad, flexible platform that we designed into the Soonaverse. One that marries the form and function of Web2 legacy systems together with Web3 components and infrastructure, with a pathway to complete decentralization as it becomes practical and widely available.
We will be providing additional information around our Business Development efforts, partnerships, and new teams and collaborations we’ve created over the last few months to deliver on the promise of this technology. Until then we welcome any and all discussion, and invite you to join us on our Discord to become part of the conversation. Thank you for reading and we hope you are excited as we are about our next stage of development, welcome to THE BUILDAVERSE.