Soulbound tokens are load bearing for the design: because they are non-transferable and bound to a specific individual, the reward can only motivate cooperation and cannot be resold for speculative gain.
Source quote, verbatim
Much like a personalized membership card that cannot be sold or given away, SBTs ensure the rewards focus on encouraging cooperation rather than speculative gain.
Wulf A. Kaal, Liquid Equity Rewards in Corporate America (2025). SSRN: https://ssrn.com/abstract=5583610
Holds when
on-chain tier of the LER architecture
Classification
designsupport: arguedtokenomics
Related claims
restateskaal:claim:5454054-021 Making LER rewards utility-only and non-transferable, in the manner of soulbound tokens, is what keeps them fu...
extended_bykaal:claim:6244278-009 Non-transferability of reputation is essential because, in Akerlof's lemons terms, a transferable reputation m...
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