HomeLatest NewsBrave announces plans to add a new wallet and DEX aggregator

Brave announces plans to add a new wallet and DEX aggregator

Privacy-focused browser Brave has revealed it will drop a native ETH wallet as well as a decentralised exchange aggregator in the next browser version

Brave has announced it will add a new wallet to its browser and revealed the specifications of version 2.0 of its web browser, which include a new ETH wallet and a decentralised exchange aggregator.

The browser will also likely feature several changes that are currently under consideration.

The company seeks to make DeFi available to everyone by tapping on its user base and past success with its token. In its Roadmap 2.0, the crypto-powered browser detailed its plans to add non-fungible token support. The roadmap further points up the company’s ambition to introduce DeFi functionality.

“The foundation for mass adoption and use of crypto and DeFi will be the Brave Wallet, which will unify Brave Rewards, custodial accounts, and best-in-class non-custodial (i.e., the user owns their private key, best stored in a hardware device) accounts in Brave.”

The Ethereum-native wallet will bring mobile support and a JavaScript ETH provider with API functionality. This will replace the in-built wallet that’s currently in use to hold Brave’s Basic Attention Tokens.

These tokens are offered to users as rewards for checking out ads. At present, more than one million publishers accept the token. Basic Attention Tokens are also considered collateral by several DeFi protocols, including MakerDAO and Compound.

The aggregator, on the other hand, will allow users to swap tokens from within the browser. It will also give discounts to BAT token holders or those that settle transaction payments in BAT. Besides discounted fees, the aggregator will come with layer-2 scaling features and offer support for liquidity providers.

Brave users can expect a newly designed user experience “to reduce friction among accounts” in the new browser version.  Another striking addition is integrating BAT with IPFS file hosting, e-commerce sites, VPNs, and even search engines. The company asserted that the latter was still under assessment.

These new features mean the firm has spread its wings far beyond the browsing space into the decentralised finance sector. The browser currently sees over 25 million monthly users – a figure the company expects to double by the end of 2021. The firm also predicts that the average daily users will increase from around 8 million to 17 million at the end of the year.

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