Brave is a privacy-centric website browser in process of launching a new feature that can help its user purchase crypto using decentralized exchanges (DEXs).
According to the blog post, the company has explained its goals regarding the Basic Attention Token (BAT). BAT is awarded to the users of Brave browser for viewing advertisements. The company has also plans for integrating the decentralized exchange (DEX) aggregator into the platform.
Now, this aggregator is specially equipped to compare rates across a wide range of DEX services which helps the users to pick the most favorable price for every trade. Moreover, the aggregator also marks the company’s first foray into the world of decentralized finance (DeFi).
The company says that through the aggregator the users will be able to benefit from additional discounts while storing BAT in their wallets. Discounts are also available when the token is used to pay for transaction fees.
Decentralized Crypto Exchanges
The DEX aggregator by Brave will assist the users to trade in cryptocurrencies at more favorable rates. However, one caution is important to take into account that decentralized exchanges are not compatible with making purchases via fiat currencies like the British Pound or US Dollar.
The difference between such exchanges with traditional platforms like Coinbase lies in the fact that these platforms work on a peer-to-peer model. In such cases, one crypto token is exchanged for another. However, at all times, the custody of the asset lies with the owner.
Uniswap, one of the most popular DEX platforms has assisted more than 30 million boasts and trades an all-time trading volume of $100 billion. It makes Uniswap one of the largest entities in the DeFi ecosystem.
The DeFi ambitions of Brave are not stopping with the aggregator. The company has also revealed its plans regarding designing a whole new DEX of its own. This DEX will help to grow BAT and provide DeFi services to a greater audience.
Brendan Eich, Brave’s CEO, says “One of our goals is to make tokens and crypto easy to use for all of our users. 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.”
Woah. The future is bright!