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Brave (BAT) Joins the BSC Ecosystem To Accelerate DeFi Adoption

 



Basic Attention Token (BAT), the native token to Brave privacy browser, explores multiple blockchains as a part of its Themis initiative and is now also available on Binance Smart Chain (BSC) as wrapped BAT. BAT holders can use numerous bridges that connect Ethereum and Binance Smart Chain to participate in the DeFi ecosystem on BSC. 

Brave’s browser wallet currently supports Ethereum and BSC through a configuration change in the wallet, but Brave is planning to preconfigure support for Binance Smart Chain later this year. This will allow users to access BSC without downloading additional apps, creating new wallets, and updating configurations in the Brave wallet. Given the low transaction costs on BSC, Brave is also exploring the use of BSC to enable P2P tipping within the Brave browser. 

BAT holders can participate in BSC-based projects such as PancakeSwap and BakerySwap for trading, Beefy Finance for yield optimization, and many more, including VenusDODOOpenOcean, and Autofarm

“With this strategic integration between the Brave browser and Binance Smart Chain, we will introduce seamless UX together for crypto users to access DeFi and Dapps in BSC and other blockchains, which will dramatically inspire mass adoption and inclusive finance,“ said  Xiaoguang Zhang, Binance Smart Chain Ecosystem Coordinator.


“Our hope is that BAT and Brave will take crypto mainstream and to make DeFi user-friendly for the mass market,” said Brendan Eich, CEO and co-founder of Brave. “With wrapped BAT now available on BSC, we believe this is achievable. We are especially excited by the low transaction fees and scalability of Binance Smart Chain and how that enables us to build scalable and seamless DeFi applications for Brave users,” he added. 

Brave browser is the first client and gateway to utility for the BAT token. Brave has grown to over 25M monthly active users (MAU) and over 9M daily active users (DAU). With its tremendous utility, BAT has over 3.8M monthly transacting users and over 13M Brave/BAT Rewards wallets. 

About Brave and BAT

Basic Attention Token, or BAT, is the token that powers a new blockchain-based digital advertising platform designed to fairly reward users for their attention, while providing advertisers with a better return on their ad spend.

This experience is delivered through the Brave Browser, where users can watch privacy-preserving adverts and receive BAT rewards for doing so. On the other hand, advertisers can deliver targeted ads to maximize engagement and cut down losses due to ad fraud and abuse.

The Basic Attention Token itself is the unit of reward in this advertising ecosystem, and is exchanged between advertisers, publishers and users. Advertisers pay for their advertising campaigns in BAT tokens. Out of this budget, a small portion is distributed to advertisers, while 70% is distributed to users — whereas the intermediaries that typically drive up advertising costs are cut out of the equation to improve cost-efficiency.


Brave Software’s fast, privacy-oriented browser, combined with its blockchain-based digital advertising platform, is reinventing the Web for users, publishers, and advertisers. Users get a private, speedier web experience with a much longer battery life, publishers increase their revenue share, and advertisers achieve better conversion. Users can enable privacy-respecting ads that reward them with BAT (Basic Attention Token), a token they can redeem or use to tip or contribute to publishers and other content creators. 

The BAT tokens will be used in the future to receive discounts and pay fees in an upcoming Brave DEX Aggregator. 
The Brave solution is a win-win for everyone who has a stake in the open Web and is weary of giving up privacy and revenue to the ad-tech intermediaries. Brave currently has over 25.4 million monthly active users and over 1 million Verified Publishers. Brave Software was co-founded by Brendan Eich, creator of JavaScript and co-founder of Mozilla (Firefox), and Brian Bondy, formerly of Khan Academy and Mozilla. 
Together, Eich and Bondy have a combined 50+ years of software development experience.


What Makes Basic Attention Token Unique?

The primary use case for the Basic Attention Token is as a payment token for running advertising campaigns through Brave Ads. As of November 2020, advertisers must commit to a minimum ad spend of $2,500 per month to be able to launch their campaign, but a self-serve platform with potentially lower limits is currently in the pipeline.

Currently, this advertising budget must be paid entirely in Basic Attention Tokens, which advertisers can acquire from a variety of third-party exchange platforms. Out of this, Brave takes a small commission, and the rest is distributed to publishers and users.

One of the main distinguishing features about Basic Attention Token and the Brave Browser ecosystem is the capacity to reward (tip) users who are not yet part of the network — this includes both websites and individual Twitter users. These users can then securely register to the platform to collect any tips they have accumulated.

Both Basic Attention Token and Brave Browser have achieved significant user uptake since their launch. As of October 2020, Brave Browser has a total of 20.5 million active monthly users, whereas the Basic Attention Token is now held by a total of more than 368,000 unique wallets.

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