Binance Launches Soulbound Token “BAB” on BNB Chain

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BAB will be available only through the Binance mobile app upon completion of KYC.

Binance’s pilot project introduces the first-ever Soulbound Token (SBT) built on BNB Smart Chain. Concerning the concept of a “decentralized society”, the token–Binance Account Bound will certify the user’s verified status (KYC) on Binance.

BAB, BNB

What is the Binance Account Bound (BAB) token?

The Binance Account Bound that is the first-ever Soulbound Token (SBT) built on BNB, is a non-transferable and non-financialized specific token which can simplest be minted upon final touch of Know Your Customer (KYC).

What do you want to recognize about the BAB token?

  • BAB could be available handiest through the Binance cell app.
  • As a Binance identification, Binance Account Bound can be used and tested by third-birthday celebration protocols to dispose of problems with airdrops or even bots.

Vitalik Buterin, the co-founding father of Ethereum, together with E. Glen Weyl and Puja Ohlhaver, gave us an intensive explanation of Decentralised Society (DeSoc) and Soulbound tokens (SBTs). And BAB is aimed toward a wide variety of DeSoc use instances.

Binance’s recent AML measures reportedly fee it billions in sales, as 3 key contributors of the trade’s investigations team spread out approximately handling fraud, money laundering, and terrorist financing.

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