Brave has bought back more than 380,000 Basic Attention Tokens (BAT) from the token circulating supply, according to data from the project’s transparency page on Tuesday.
The cryptocurrency-powered browser project tries to keep its BAT purchases as transparent as possible, making it available on its website for any interested party to keep track of the purchases.
Brave hits 12 million monthly users
Brave has seen an increase in the number of its active users and publishers on its network. Last month, the browser hit over 4 million daily active users and more than 12 million monthly users, from a reported 8 million monthly users in October 2019.
More than 400,000 publishers make use of the Brave Network with a bulk of this number, about 268,600, operating on YouTube and about 52,150 publishers operating on Twitter.
Since most of Brave’s advertisers make payments in fiat currencies, the company uses Uphold as a payment processor in order to convert these fiat currencies to BAT. The project regularly buys back BAT to reward its users.
The browser boasts of having an in-built ad and tracker blocking system that affords users of the much-needed privacy. However, users can choose to participate in Brave’s ad campaign in order to earn up to 70% of ads revenue via the project’s native token, BAT, in exchange for viewing a number of ads as desired by the users.
Users can also support their favorite content creators who have signed up for the Brave publisher program by making donations or regular contributions in the form of BAT tokens.
Brave started buying back the BAT tokens in August 2019. Since then, it has made significant purchases. The browser made the biggest BAT repurchase in its history in March 2020. Brave bought back over 500,000 BAT tokens, which was the company’s largest single-day acquisition to date. The purchase had a very positive effect on the price of BAT at that time amid the bear market.
Binance Partners Brave
Last month, leading cryptocurrency exchange by trade volume, Binance partnered with Brave to enable seamless trades of cryptocurrencies for users of the browser. The exchange integrated its widget on the browser to allow Brave customers to buy their favorite coins including Bitcoin (BTC), Ether (ETH), and XRP directly on the browser.
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