The Privacy web browser Brave will now work on a decentralized exchange aggregator because the platform wants to incentivize people to use them in the DEX so let’s find out more in our latest crypto news.
Brave is a privacy web browser that has about 25 million users per month and now, it will be building a decentralized exchange that will provide discounts to all BAT holders. Brave rewards its users as well with a Basic Attention Token and it will build new functionality into its platform. According to its BAT Roadmap 2.0 announced today, Brave will create a decentralized exchange aggregator as well as a new wallet to replace the current crypto wallets. The additions will extend the reach of the company beyond web browsing and into the decentralized finance space as it is a multi-billion dollar industry for crypto-based protocols which allow people to earn interest and to lend assets as well as to 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
The decentralized exchange is an online market where people are able to trade different cryptocurrencies without these tokens coming into contact with a third party ever. DEXs are different from centralized exchanges like Coinbase which store the users’ crypto keys on their behalf. The DEX aggregator helps the users to find and to lock in the best possible price across other exchanges as the roadmap also allows Brave to potentially create its own DEX which is something that the company looks into:
“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.”
Brave shows that the widgets for exchanges are set on the homepage so the users can easily connect to their exchange accounts without logging into a website but decentralized exchanges are also opening up to new treading possibilities. Uniswap is among the most popular DEX which pioneered the use of the “Constant product market maker model.” The model allows people to sell their tokens if there’s no one to trade.
Details above the DEX aggregator are sparse but the software company says it will differentiate by providing discounts for BAT holders who use the native token to pay the fees and giving discounts to users that use BAT in their wallet.
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