Gifting System

Unlocking a Connection of Sentiments and Tokens

Welcome to the heart of social gifting on the Soon platform, where emotions meet blockchain in the form of unique Gift NFTs. In this section, we delve into the enchanting realm of Gift NFTs—digital tokens that encapsulate sentiments, expressiveness, and a touch of exclusivity. Gift NFTs are digital assets residing on the Soon blockchain, each encapsulating a unique expression of goodwill, celebration, or camaraderie. These tokens are not just symbols of generosity but also hold intrinsic value in the form of SOON tokens.

Gifts Use Cases

1. Gifting in Chats

• Expressive Conversations: Elevate your chat experience by sending unique Gifts, turning text-based interactions into visually rich conversations.

• Personalized Emotions: Celebrate special moments, express appreciation, or simply brighten someone's day by gifting thoughtfully curated Brc-20 Tokens.

2. Tipping in Livestreaming

• Virtual Tipping: Show appreciation for your favorite content creators during live broadcasts by tipping them with Gifts.

• Monetary Support: The inherent SOON token value in Gifts provides tangible support to broadcasters, combining emotional appreciation with financial backing.

Discover the simplicity and impact of Gifts as they seamlessly integrate into your chats and live streaming experiences, adding a touch of creativity to your digital interactions.

Gifting Mechanisms

1. Acquisition of Gifts

   • Users can purchase or trade Gifts in the platform's marketplace using SOON tokens.

   • Gifts are unique and may have various designs or attributes.

2. Gifting Process

   • Users can choose a Gifts from their collection and send it as a gift during chats or livestreamings.

   • The recipient is notified of the received gift and can view it in their inventory.

3. Inventory and Display

   • Users have a dedicated inventory for storing their Gifts.

   • Gifts received or purchased are displayed in the user's profile or inventory section.

4. Monetary Value and Exchange

   • Each Gifts has an associated SOON token value.

   • Recipients can choose to exchange the received Gift for its equivalent SOON token value.

5. Burning Mechanism

   • To exchange a Gift for SOON tokens, the recipient initiates the burning process.

   • The burning process permanently consumes the Gift and credits the recipient's account with the specified SOON token value.

6. Marketplace Interactions

   • Users can list their Gifts for sale in the marketplace.

   • Buyers can purchase Gifts directly or engage in token exchanges.

7. Dynamic SOON Valuation

   • The SOON token value of Gifts may vary based on factors such as rarity, design, or limited edition status.

8. Transaction Records

   • All Gifts transactions, including purchases, exchanges, and burns, are recorded in the user's transaction history.

9. Platform Fee

   • A small platform fee is deducted from each Gift transaction, contributing to the platform's sustainability.

10. Incentives for Burning

    • Users may receive additional incentives, such as loyalty points or exclusive badges, for choosing to burn gift NFTs.

11. Limited Edition and Seasonal Gifts

    • The platform may introduce limited edition or seasonal Gift with unique features, encouraging user engagement and collection.

This mechanism enables users to engage in a vibrant gift economy within the platform, providing both a creative outlet for expression and a means of converting unique Gifts into tradable and usable SOON tokens. The burning mechanism ensures a seamless conversion process with clear value attribution to the received Gifts.