Owl Protocol

Executable Value

The concept of executable value is important when deciding what types of data to include on-chain with a Data Backed Token (DBT).

In general, data that is useful for other smart contracts on-chain, is data with executable value.

Examples of Data with Executable Value:

Stats that Track Engagement

Tracking how active a user is directly on the NFT, can be useful for partner projects to easily create additional benefits to reward their loyalty.
If this data was not on-chain, your project would have to maintain the activity data and have an API, which your partners would then need to integrate with. Furthermore, for on-chain airdrops, mints, or DeFi, the user engagement data is not accessible unless it's on-chain.
Example Attributes
  • Time Last Transferred - measures how long a user has owned that NFT, without a complicated blockchain call, which may differ between networks.
  • Number of Interactions - a simple counter that increments every time the NFT is used can be a good measure of engagement.
  • Time of Last Interaction - tracks how recently a user has engaged with a utility with the NFT

Game Attributes

Using a DBT for tokenizing in-game assets allows a game developer to synchronize attributes in the game to the NFT.
This is useful for interoperabilty and metaverses, wherein other games and worlds can more easily import the NFTs or digital assets without relying on querying an API that the game developer must maintain.