Asalamualaikum:

The prophet of Allah (SWT) was once asked: What is Udhiyah (aka Qurbani)? He (SAW) responded: “It is the tradition of your father Ibrahim (AS).” For every hair of the sacrificed animal you will receive a reward from God (Allah). (Hadith)

This sacrifice in linked to the Sunnah of Ibrahiem (AS). It is also the Sunnah of the Rasool (SAW). He (SAW) would not only slaughter for himself, he would also do so for others.

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Wasalam