The Binance Account Bound token has proven to be an alluring prospect for many users on our ecosystem as they continue to enjoy the incentives the Soulbound token opens up for them on a myriad of different platforms.Here we take a closer look at the data, and find out which users have opted for the BAB token at this early stage.<h2 id="header-0">Key Takeaways</h2>~60% of BAB holders are new wallet addresses (likely created due to BAB).<ul><li>Of these holders, almost one-third went on to make another transaction (this will increase since minting has only just begun).</li><li>As of September 22nd, we still see a significant chunk (~41% of all BAB Minters) of New Wallets not doing an on-chain tx yet</li></ul>~Existing wallets’ dApp usage behavior is largely similar to active wallets across BNB Chain, with the exceptions of:<ul><li>They don’t interact with high risk dapps as often (eg Drip, Fstswap, etc..)</li></ul>~Some prominent gamefi projects like Gameta and XWG are missing in top ranks<ul><li>Apollo X, Tiny World seems to be popular amongst the New Wallets1</li><li>Even after ~ 2 weeks since BAB Minting was launched, new wallets1 have had minimal interaction with the liquid staking protocols (pStake, Ankr, Stader) as well as Wombat and Helio.</li><li>In terms of drawing new wallets to each respective dapp, BABT has drawn a lot of new wallets to ApolloX, Quest3, XWG, Galaxy and PearDAO as evidenced by the relatively high % of all new walelts on these DApps that are BABT holders (~&gt;45%)</li></ul><h2 id="header-1">BABT Holder Distribution</h2><img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/f9e7f3562db3426d9b30b7a9e907b158.jpeg" />* Data Source: <a href="https://dune.com/queries/1260873?category&#61;abstraction&amp;namespace&#61;erc20&amp;table&#61;evt_Transfer&amp;blockchains&#61;bnb" rel="noopener noreferrer nofollow">link</a><h2 id="header-2">Projects/Dapp distribution amongst the BABT minters</h2>In this section we observe the similarities and differences in distribution of dapps that BABT minters have interacted with<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/4dc2b9d79202428fb996f7efe5324981.jpeg" /><h3 id="babt-contribution-to-each-dapp-new-wallets">BABt Contribution to each dapp new wallets</h3>So far we have analyzed the behaviour of users minting BAB tokens, with ‘existing’ vs ‘new’ wallets, and the similarities and differences in dApps that both segments interact with.In this section, we analyze the ‘propensity’/degree which the BAB token has ‘acquired new wallets’ for each dApp on the BNB Chain ecosystem. Here, we define a ‘new wallet as wallets who interact with a specific Dapp for the first time. For example a new wallet could have interacted with multiple dApps and be counted as their 1st time across a dApp.The table below (sorted by number of new wallets to dApp) shows the percentage of total number of new wallets to each dApp that are BAB token holders. This relates to  the date range of September 8th to September 22nd.<ul><li>For example, we see that Quest3 had approx 29.7k new wallets, of which 74.62% of them (22.2k) are BAB token holders</li><li>Whereas for Pancake Swap, this measure is at 2.99% only, suggesting that BAB token is not a strong user acquisition tool</li><li>As expected, Tiny World, ApolloX, Galaxy, PearDAO, X WorldGame all have higher percentages as they have BAB exclusive rewards</li><li>However, Summoners Arena seems to have very low % at only ~2% even though it is part of the 15 dApps with BAB exclusive rewards</li></ul>Raw data: <a href="https://docs.google.com/spreadsheets/d/15zwWQhR3XGyRX8WRQer9hzUGtbH9h3EINZU0vac6fV8/edit#gid&#61;2002508583" rel="noopener noreferrer nofollow">link</a>Date Range of data: September 8th to September 22nd, 2022.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/74aa07eaa8134e0ab76c07850c3cda8e.jpeg" />On the whole we can see new users are making use of BAB tokens and the inherent incentives provided by a broad range of dApps on the BNB Chain ecosystem.Join us for regular forthcoming data insights relating to timely incentives taking place on BNB Chain!<h3 id="follow-us-to-stay-updated-on-everything-bnb-chain">Follow us to stay updated on everything BNB Chain!</h3><a href="https://www.bnbchain.org/" rel="noopener noreferrer nofollow">Website</a> |<a href="https://twitter.com/BNBCHAIN" rel="noopener noreferrer nofollow"> Twitter</a> |<a href="https://t.me/BNBchaincommunity" rel="noopener noreferrer nofollow"> Telegram</a> |<a href="https://www.youtube.com/c/bnbchainofficial" rel="noopener noreferrer nofollow"> Youtube</a> |<a href="https://discord.com/invite/bnbchain" rel="noopener noreferrer nofollow"> Discord</a> |<a href="https://www.reddit.com/r/bnbchainofficial/" rel="noopener noreferrer nofollow"> Reddit</a> |<a href="https://www.buildnbuild.dev/" rel="noopener noreferrer nofollow"> Build N&#39; Build Forum</a>

BAB Token (SBT) Adoption Insight

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