🔍 What is a BABT token?
BABT stands for Binance Account Bound Token. It is a Soulbound Token (SBT) issued by Binance on the BNB Chain, and it represents a verification of identity. It is non-transferable and non-tradable. It is like a digital "medal" that says:
> “This wallet belongs to someone who completed the KYC (Know Your Customer) process on Binance”
In other words, it is proof that your account has been verified by identity.
🎓 What is a Soulbound Token (SBT)?
An SBT (Soulbound Token) is a non-transferable NFT token. You can receive it, but you cannot sell it, move it, or gift it. It remains attached to your digital "soul" (your wallet). It was invented by Vitalik Buterin and company as a basis for a decentralized digital identity.
🤔 What is the purpose of the BABT on Binance?
So far, it does not have a direct economic value, but it is being used for:
1. Accessing events, promotions, airdrop campaigns, or exclusive participation, for example:
Rewards on BNB Chain.
Discounts.
NFT or GameFi campaigns.
2. Web3 Identity: Your wallet is marked as “verified.” Some dApps and games already use it as a way to prevent bots or multiple accounts.
3. Proof of Participation (PoP): Some campaigns give rewards to those who have BABT, acting as a passport of activity on Binance.
💡 And why do you pay 1 USDT?
That amount is usually an issuance fee. Binance uses it to avoid spam. You are not “buying” a token with commercial value, but issuing a digital credential backed by the BNB Chain.
