Binance and 14 main Web3 Protocols Announce Unique Soulbound Token Advantages for BAB Holders – Yahoo Finance

  • Fourteen selected partners will give users exclusive incentives tied to Binance’s recently launched soulbound token, BAB on BNB Chain

  • For the first time in Web3, Binance users will gain exclusive access to programs by minting BAB token to their wallet address on BNB Chain, which will be linked to real-world use cases

DUBAIUAE, Sept 8, 2022 /CNW/ — Binance, the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider announced that fourteen leading web3 projects will provide exclusive user incentives for Binance’s newly announced BAB token. ApeSwap, Apollox PearDAO, Project Galaxy, X World Games, Summoner’s Arena, Ultiverse, Cyberconnect , P12, Mathwallet, Liveart, OpenOcean, TinyWorld, and The Harvest are the world’s first web3 projects to adopt Soulbound Tokens and give BAB token holders exclusive incentives.

Binance Account Bound (BAB) token

Binance users can leverage these perks by minting BAB tokens to their wallet address on BNB Chain. The benefits range from exclusive airdrops and VIP benefits to newly launched feature access to the Binance BAB community. After Binance launched the BAB token on August 1, 2022this is the first time that multiple Web3 projects are incorporating BAB tokento provide real-world use cases for soulbound tokens.

“The feedback from the community has been encouraging as we support the top Web3 projects to bring these benefits to BAB token holders. This is where innovation is taking place, as we demonstrate to the world how soulbound tokens can share web3 credentials and identity in a secure and democratic manner. We’ve seen a lot of interest from the dApp community, and we can’t wait to see more projects using BAB token to make this one of the biggest innovations on soulbound tokens in the world,” said Gwendolyn ReginaInvestment Director at BNB Chain

While, ApeSwap will create a claimable NFT that represents a raffle exclusively for BAB holders, Apollox will provide BAB holders a privileged reward program.

Story continues

BAB holders will receive PearDAO’s GameFi tokens. This would provide BAB holders special voting rights to enhance DAO governance and dispute handling in the PearDAO ecosystem.

As a defense against Sybil Attacks, BAB token holders will be included to Project Galaxy’s credential database. These BAB token holder credentials will be published on a person’s Galaxy ID after they complete Binance’s KYC process.

X World Games will integrate BAB token into present and future games. KYC-compliant BAB token holders will receive an airdrop upon first login to each game. BAB token holders get VIP perks depending on the game or mode.

Metaverse platform, Ultiverse will exempt BAB holders from KYC and grant daily bonus points in Terminus City, among other unique benefits like minting SBT tokens, voting rights, and more.

Decentralized social graph protocol, Cyberconnect will display BAB on a user’s profile to signify a real user (not bots) and access to proof of attendance for Link3, a new feature to streamline online event creation.

Metaverse platform, P12’s benefits will include admission ticket to all BNB Chain and P12, P12 x BAB Exclusive OAT, premium user access, and token airdrops.

Furthermore, Play-to-earn protocol, Summoner’s Arena, multichain wallet, Mathwallet, NFT marketplace, Liveart, DeFi protocol, OpenOcean, blockchain gaming protocol, TinyWorld, and NFT platform, The Harvest will have exclusive community and membership benefits for Binance BAB token holders.

The BNB Chain community will continue to encourage the use of BAB tokens by more projects to provide more benefits to users.

Disclaimer: Getting a BAB Token is optional for Binance users and it is not an invitation, inducement, or requirement to use any products or services offered by Binance. 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 have sole authority and discretion to decide whether or not to use BAB Token and the purposes for which they will use it, without any involvement of Binance. 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. You are solely responsible for your investment decisions and your use of any third-party projects using BAB Token is at your own risk.

About Binance

Binance is the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider with a financial product suite that includes the largest digital asset exchange by volume. Trusted by millions worldwide, the Binance platform is dedicated to increasing the freedom of money for users, and features an unmatched portfolio of crypto products and offerings, including: trading and finance, education, data and research, social good, investment and incubation, decentralization and infrastructure solutions, and more. For more information, visit: https://www.binance.com. Trade on the go with Binance’s mobile crypto trading app. Download for Android or iOS.

About BNB Chain

BNB Chain is a community-driven, decentralized and censorship-resistant blockchain, powered by BNB. It consists of BNB Beacon Chain and BNB Smart Chain (BSC), which is EVM compatible and facilitates a multi-chain ecosystem. It is the world’s largest smart contract blockchain in terms of transaction volume and daily active users. It has processed 3 billion transactions to date from 163 million unique addresses, bringing developers massive user access with ultra-low gas fees and zero downtime since inception. The ecosystem has more than 1,300 active dApps across multiple categories such as DeFi, Metaverse, blockchain games, NFT, and more.

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BNB Chain logo

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View original content to download multimedia: https://www.prnewswire.com/news-releases/binance-and-14-leading-web3-protocols-announce-exclusive-soulbound-token-benefits-for-bab-holders-301620391 .html

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View original content to download multimedia: http://www.newswire.ca/en/releases/archive/September2022/08/c7234.html


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