Binance Account Bound Token | Binance Developers
developers.binance.com/docs/babt/introduction
1 Users
0 Comments
2 Highlights
0 Notes
Tags
Top Highlights
Suppose Binance issues Binance Account Bound(BAB) tokens which are credentials of Binance KYC users. So here are the potential scenarios to use these tokens: A new protocol only airdrops to addresses with BAB tokens since business cooperation. A NFT only allows minting from addresses with BAB tokens to avoid bots. A DAO only allows voting from addresses with BAB tokens, and each such address will have a cap of voting power to ensure governance fairness. A DAO uses Quadratic Voting, and only allows addresses with BAB tokens.
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.
Ready to highlight and find good content?
Glasp is a social web highlighter that people can highlight and organize quotes and thoughts from the web, and access other like-minded people’s learning.