Join us as we take a closer look at how you can utilize and get the best out of Binance Account Bound (BAB) tokens.
What are BAB Tokens:
Binance Account Bound (BAB) tokens are identity credentials for Binance users who have completed KYC verification. What this means is that developers and project owners can specifically reach out and ensure that there is a KYC-ed individual/entity behind the wallet addresses that you’re intending to engage.
Features of the BAB Tokens:
- Non-transferable: Users cannot transfer BAB tokens to other users.
- Revocable: Users can revoke their BAB tokens.
- Unique: One verified Binance user ID allows the user to mint one BAB token only on a chain.
- All wallet holders that are holding BAB tokens are KYC-ed users which means that you won’t have multiple wallets that belong to the same person minting/participating in your launches
How to Integrate BAB Tokens Into Your Project:
BAB tokens can have any form of utility, some examples are as follows:
- Claimable NFT raffles
- Privileged Reward Program
- GameFi tokens, and higher trading limits
- One-time airdrop prize
- Daily bonus points
- Admission tickets to events
Learn more about our first usecases here: https://www.bnbchain.org/en/blog/binance-account-bound-bab-token-holders-set-for-exclusive-usecases-across-bnb-chain-ecosystem/
Depending on the type of project you have, you can incentivize BAB holders to explore and engage with your project by providing interesting and innovative utilities.
Wallets essentially need to be checked for the BAB token in order to receive the BAB utility attached.
You would be able to find more information on the contract address as well as logos for reference in the documentation here: https://developers.binance.com/docs/babt/introduction
Once integrated you may choose to apply for a chance to get listed on DappBay through this form here: https://wkf.ms/3BeXnSz
- You would need to prepare a medium/blog post on the utilities which would be a requirement in the form.
- Do note that not every project that applies would be chosen and listed over DappBay.
Disclaimer: BAB Token is a non-fungible token issued by Binance characterized as a soulbound token. Getting a BAB Token is optional for Binance users and Binance's role is limited to issuing (upon request) the BAB Token for users who have completed identity verification procedures for their Binance account, which may vary depending on the user's country of residence.
Third-party projects such as decentralized protocols, decentralized autonomous organizations, or decentralized applications have sole authority and discretion to decide whether or not to integrate BAB Tokens into their ecosystem, the purposes for which they will use it and whether BAB Tokens are suitable for their product or ecosystem, without any involvement of Binance.
Binance is not making any representation to third-party projects about the holders of the BAB Tokens. Use of BAB Tokens by third-party projects in any way should not be construed as a recommendation, vetting, or endorsement of such third-party projects by Binance, BNB Chain, or any other affiliated entity.