BAX is the utility token of the BABB platform, and has the following functions:
Underlying Token for Platform Services
BAX tokens are used as the underlying cryptocurrency for all services provided by the BABB platform. $BAX is used to pay all services, fees, and licensing of the BABB platform.
Onboard/Offboard Services
Any service that integrates BAX support can consequently connect with the BABB platform and facilitate the transfer of funds directly between user bank accounts. The team behind BABB plans to use BAX as a method for transferring value into and out of the BABB platform, as well as serving as an access point to other cryptocurrencies.
Foreign Exchange Liquidity
BABB plans to use BAX as an intermediary to convert tokenized fiat currencies between BABB accounts, promoting rate discovery, enhancing liquidity, and simplifying the exchange process among various local currencies.
International Payments
BABB may allow the use of BAX to make international payment transfers, especially for more illiquid currencies of smaller countries. Users can send funds in BAX and the recipient can convert BAX tokens to the currency of their choice.
Fundraising
To promote global cooperation, the money gathered through BABB's fundraising capabilities can be obtained in BAX, providing extra benefits for participants. Utilizing BAX for fundraising enables support for small contributions, under $1 per participation, allowing for micro-participations.
Trade or HODL BAX
Trade BABB crypto against other digital assets on KuCoin Spot Market or other supported platforms. Buy or sell BAX or hold the token long-term if you believe in the future of the BABB project. Do remember to perform DYOR before entering a new trade in the crypto market.