Privacy web browser Brave, which rewards its 25 million+ users with its Basic Attention Token (BAT), is building new functionality into its platform.
According to its BAT Roadmap 2.0, announced today, Brave is creating a decentralized exchange (DEX) aggregator as well as a new “Brave Wallet” to replace its current crypto wallets.
The additions will extend the firm’s reach beyond web browsing and into decentralized finance (DeFi), the multibillion dollar industry of crypto-based protocols that allow people to earn interest, lend assets, and trade tokens without going through a financial institution.BAT Roadmap 2.0 — Brave Decentralized Exchange (DEX) announced: Discounts when using BAT for transaction fees, discounts for BAT holders, BAT utility for search engines; new Brave Wallet, and more https://t.co/dIVXUwp1rP — Brave Software (@brave) February 23, 2021
A decentralized exchange is an online market where people can trade different cryptocurrencies without those tokens ever coming into contact with a third party. DEXs are different from centralized exchanges such as Coinbase, which stores users’ cryptocurrency keys on their behalf.
While a DEX aggregator helps users find and lock in the best possible price across multiple exchanges, the roadmap also allows Brave to potentially create its own DEX—something the company confirms it is exploring.
"One of our goals is to make tokens and crypto easy to use for all of our users," Brave CEO and co-founder Brendan Eich told Decrypt. "The custom DEX which we plan to explore could help achieve this goal by enabling users to exchange BAT and other assets at lower fees, and with better user interface and security, by being built into Brave."
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