BAB Token (Binance Account Bound Token) is an on-chain credential provided by Binance for users who have completed KYC verification, classified as a 'Soulbound Token'.

Its core features include:

1. Non-transferability: The token cannot be transferred between different wallet addresses, ensuring its unique binding to the user's identity;

2. Revocability: The issuer (Binance) or the user can actively revoke the token, for example, by revoking it through account operations in case the wallet is lost, and then reminting it to a new address after 72 hours;

3. Uniqueness: Each Binance user (UID) can hold only one BAB token on a single blockchain, avoiding duplicate bindings.

Users can view their BAB tokens through wallets that support NFT display, but must ensure that the wallet is connected to the Binance Smart Chain (BSC) network. To change the bound wallet address, the existing token must be revoked first, and then reminted through the new address, rather than directly transferred. The core function of the BAB token is to provide users with on-chain identity verification, enhancing account security and compliance, while also serving as a credential for participating in specific on-chain activities within the Binance ecosystem (such as airdrops, proof of stake, etc.). Its design ensures both user privacy and asset control, while strengthening the platform's management capabilities for compliance.

The BAB token combines the traditional financial KYC system with blockchain technology, addressing the challenge of 'identity and behavior binding' while protecting privacy, thus providing a compliant infrastructure for Web3 applications. By holding BAB, users can enjoy the convenience of on-chain activities without sacrificing the security assurances of centralized platforms.