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Gungun Bhatia
Sep 8, 2022
by Gungun Bhatia

Binance To Launch Binance Account Bound (BAB) Token

Binance BAB Token

Table of contents

  1. BAB Tokens - Identity Credentials for Binance
  2. Use of BAB Tokens
Binance will introduce the Binance Account Bound (BAB) token, a soul-bound token used to identify Binance users who have finished KYC verification. On the BNB Chain, users can create BAB tokens as identity credentials, participate in developing numerous projects, and receive rewards.

BAB Tokens - Identity Credentials for Binance

Binance Account Bound (BAB) tokens serve as identification credentials for Binance users who have completed KYC verification. Binance will initially release it on the BNB Chain. The BAB tokens will be available to communities by a few BNB Chain projects as identification credentials. After creating a BAB token, a verified Binance user can take part in developing the chain's supporting projects and earn incentives. BNB Chain will provide further information at a later time.

Use of BAB Tokens

The applications for BAB are virtually limitless. In the beginning, a few BNB Chain projects will introduce the BAB tokens to their communities as identification credentials. Future applications can require using the BAB token to eliminate bots because users must complete KYC to receive the token.

The BAB coins can help address the governance problems of preventing bots from receiving airdrops. The present DAO (Decentralized Autonomous Organization) concept is defective in a way that the distribution of governance may be controlled and shifted away by buying power.

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Binance To Launch Binance Account Bound (BAB) Token
Gungun Bhatia
Gungun is an enthusiastic writer that likes to create content for various aspects of the blockchain and crypto industry. She carries out extensive research and provides readers with informative and high-quality material.

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