The privacy-focused web browser Brave Browser announced its plans to enable token swaps in its software by launching its own decentralized exchange (DEX) and Layer-2 solution to facilitate access to its users to Decentralized Finance (DeFi).
The addition of a DEX to the Brave ecosystem aims to provide added value to both Brave and Basic Attention Token (BAT), Brave’s native cryptocurrency, by providing discounts when using BAT to pay for transaction fees, discounts for BAT holders, and multichain support for multiple cryptocurrencies.
Brave Looks to DEXs as Part of Roadmap 2.0
The new feature is part of the recently published Roadmap 2.0, which also includes the addition of the Brave crypto wallet, the THEMIS protocol, R&D around the decentralized web (Web3), and increasing community outreach.
Despite having integrated with Gemini, Binance, and Crypto.com in the past, the new Brave wallet will work as a means to unify the existing Brave rewards program, custodial accounts, and best-in-class non-custodial into a single solution.
R&D around Web3 will be focused on the potential applications of BAt in search engines, e-commerce, VPNs, rewards for content verified on InterPlanetary Naming System (IPNS), and its uses for content pinning on InterPlanetary File System (IPFS).
Brave has been one of the most active contributors to the development of Web3 by integrating new protocols and technologies, with other blockchain projects like Ocean Protocol, Filecoin, Siacoin, and Numeraire being some of the major contributors in the cryptocurrency space.
Decentralized Exchanges Continue to Gain Popularity
Ever since the booming of DeFi back in 2020, DEXs like Uniswap, 1Inch, PancakeSwap, and others, have continued to rise in popularity while becoming a major threat to centralized exchanges that have dominated the crypto market for most of its history.
Coinbase, one of the biggest cryptocurrency exchanges in the world, stated in its recently published S-1 form that DEXs and DeFi, in…