PearDAO
Launch AppWhitepaper
English
English
  • What is PearDAO?
    • How PearDAO works
  • Getting Started
    • Create a wallet
    • Connect Your Wallet To PearDAO and Add PEX token to your wallet
    • How to earn passive income with P2P and trade more safely?
      • Tips and advices
      • How to conduct KYC verification on p2p exchanges?
    • How to avoid scams
    • How to appeal
    • Gas fee and transaction fee explanation
    • P2P Marketplace FAQ
  • Tokenomics
    • PEX Token
    • Innovation Hub
    • Token Allocation
  • NFT
    • How to use NFT marketplace
    • SBT
    • BAB
  • Earn
    • Pear Farm
      • How To Buy PEX-BNB LP Token
      • Trade Access Pool
      • PEX-BNB LP Pool
      • PEX Pool (Projected Launch Date: 4 April 2022)
    • Trade Mining Reward
      • How are the Trade Mining Rewards being calculated?
    • Share to Earn
  • DAO Mechanism
    • Pear DAO Governance
      • Governance
      • Operational
      • Iteration Cycle
    • Pear DAO Treasury Fund
    • Pear DAO Appeal Nodes
      • What if there is a trading problem?
      • PearDAO Appeal Handling SOP
  • Use Cases
    • How To Post Ads
      • Posting Buy or Sell Advertisements (Ads)
    • How To Buy Digital Assets
      • How to Buy Digital Assets On Pear Marketplace
    • How To Sell Digital Assets
      • How to Sell Digital Assets On Pear Marketplace
  • RoadMap
    • PearDAO RoadMap
  • Programs
    • Community Career Roadmap
    • Student Ambassador Program
  • Team
    • Pear Members
      • Product Manager
      • Growth Manager
      • Operations Manager
      • 3D Animation Designer
      • Crypto Gaming / NFT Business Manager
      • Technical Writer
      • Global Community Manager
      • Business Development Manager
    • PearDAO Logos
  • Pear Events
    • WorldCup NFTs Claim Rules
    • World Cup betting rules
    • Tokyo Ver 1.0 Release
      • Features
    • Beta User Airdrop
    • Genesis PearDrop
      • How To Claim NFT
    • AMA
      • Recap of 1st AMA on 20 Feb
    • Learn & Earn Winner List
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  1. NFT

BAB

What is Binance Account Bound (BAB)?

Binance has also released its Soulbound tokens known as the “Binance Account Bound (BAB)” for user certification. As a result, Binance’s Soulbound tokens would function as credentials for users who have passed the exchange’s Know Your Customer (KYC) process. The token is non-transferable and can only be revoked or cancelled by the user in question, as it is a unique token that can only be minted upon completion of KYC.

BAB functions in the same way as other SoulBound tokens. However, since it is based on the Binance chain, it is only intended for Binance users. BAB is intended to be an opt-in feature that would allow only Binance users who are in compliance with Know-your-customer (KYC) to mint BAB directly on their wallets while using the site.

How to get Binance Account Bound (BAB)?

BAB is only available to mobile app users who have completed KYC process of Binance. The tokens will be used by third-party protocols and may be minted on existing or new wallets.

Use Cases for BAB:

The BAB’s principal use case, according to the main objective of Soulbound tokens, is to act as a certification to verified Binance users. As a result, Binance users may be certified and have documentation of it.

Furthermore, BAB may be used by decentralized apps (dApps) and NFT protocols. They may utilize the tokens for a variety of reasons, such as airdropping to BAB token addresses or permitting minting from BAB addresses to avoid bot manipulation, among others.

Notably, third-party protocols may use BAB tokens to validate BAB tokens for a variety of activities such as avoiding bots, airdropping NFTs, and a DAO utilizing it for quadratic voting, among others.

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Last updated 2 years ago