Binance, the most important blockchain ecosystem in the world and the most important supplier of cryptocurrency infrastructure, has announced that fourteen of the most important web3 projects will give unique user incentives for Binance’s recently introduced BAB coin. The world’s first web3 projects to adopt Soulbound Tokens and provide BAB token holders with exclusive benefits are ApeSwap, Apollox PearDAO, Project Galaxy, X World Games, Summoner’s Arena, and many more. These projects are also among the first to use the term “web3.”
What is Binance?
World’s leading crypto ecosystem, Binance offers a suite of financial products, one of which is the biggest digital asset exchange by volume. Binance was founded in the year 2013. The Binance platform, which is relied on by millions of people all over the world, is committed to expanding the financial independence of its users. It also features an unrivaled portfolio of crypto products and offerings, which include trading and finance, education, data and research, social good, investment and incubation, decentralization and infrastructure solutions, and more.
What is the BNB Chain?
BNB Chain is a blockchain that is led by the community, is decentralized, and is immune to censorship. It is powered by BNB. It is compatible with EVM and makes it possible to have many chains in an ecosystem. It is composed of the BNB Beacon Chain and the BNB Smart Chain (BSC). It is the most widely used smart contract blockchain in terms of both the volume of transactions and the number of people that participate every day.
By far, it has completed 3 billion transactions from 163 million unique addresses, providing developers with vast user access while maintaining very cheap gas prices and having zero downtime since its start. The ecosystem now hosts over 1,300 active decentralized applications (dApps) that span a variety of genres, including but not limited to Defi, Metaverse, blockchain gaming, NFT, and others.
Benefits of the BAB coin
Users of Binance can take advantage of these benefits by minting BAB tokens to their wallet address on the BNB Chain. The perks include access to recently released features, unique airdrops, and VIP incentives, as well as membership in the Binance BAB community. It is the first time that numerous Web3 companies are adopting the BAB token to give real-world use cases for soulbound tokens. Binance debuted the BAB token on August 1, 2022, and this is the first time that multiple projects are doing so.
Apollox will supply BAB holders with a special incentive scheme, while ApeSwap will produce a claimable NFT that symbolizes a raffle specifically for BAB holders. PearDAO’s GameFi tokens will be distributed to holders of BAB. This will provide holders of BAB-specific voting rights, to improve DAO governance and the resolution of disputes within the PearDAO ecosystem.
Holders of BAB tokens will have their credentials entered into Project Galaxy’s database to protect themselves against Sybil attacks. Following the successful completion of Binance’s Know Your Customer procedure, a person’s Galaxy ID will be updated with their BAB token holder credentials.
Protocols about the BAB coin
The BAB token will be included in both ongoing and upcoming games by X World Games. Holders of BAB tokens who are compliant with KYC requirements will get an airdrop upon their initial login to each game. BAB token holders enjoy VIP privileges based on the game or mode.
Metaverse platform Ultiverse will provide daily bonus points in Terminus City to BAB holders in addition to exempting BAB holders from KYC requirements and providing additional one-of-a-kind perks like the minting of SBT tokens, voting rights, and more.
P12’s perks will include premium user access, token airdrops, entrance tickets to all BNB Chain and P12 events, and P12 x BAB Exclusive OAT. Metaverse platform benefits will also include P12’s benefits. The BNB Chain community will keep pushing for new projects to use BAB tokens as a means of payment so that users may get an increasing number of advantages.