What does BAT stand for and what is it?
Basic Attention Token. It is a utility token based on the Ethereum technology that can also be used as a unit of account between advertisers, publishers, and users in a new, blockchain-based digital advertising and services platform. The token is not a digital currency, security or a commodity. To learn more about how the BAT platform is working with the Brave browser, please see below.
Are BATs transferable? Where are BATs traded?
BAT is a utility token meant for use in the BAT platform. It is transferable. While we are aware that the token is currently being traded on the exchanges listed here and elsewhere, we have not encouraged or facilitated this exchange trading in any way. We provide the foregoing information solely as a means of reducing the inquiries we receive directly.
What do BATs represent?
The utility tokens are intended for use on the BAT platform, a new Blockchain-based digital advertising and services platform. Ownership of the tokens carry no rights other than the right to use them as a means to obtain services on the BAT platform, and to enable usage of and interaction with the platform, if successfully completed and deployed. The tokens do not represent or confer any ownership right or stake, share or security or equivalent rights, or any right to receive future revenue shares, intellectual property rights or any other form of participation in or relating to the BAT platform, and/or Brave and its affiliates. The tokens are not refundable and are not intended to be a digital currency, security, commodity or any other kind of financial instrument.
Additional information regarding the utility of BAT is available in the terms and conditions.
Where will BAT be used?
We are building the BAT platform to integrate the Brave browser (see below), Brave’s ledger system, as well as a BAT wallet and related blockchain-attested functionality. The utility token is for conducting transactions and obtaining services on the platform. The token will be used, for example, in acquiring ad slots to be filled with privately matched, anonymously confirmed ads.
Given the open-source nature of the project, however, we also envision that as we develop the BAT protocol, third-party developers may come up with new and novel uses for the token.
Some of these could include:
- Other browsers: One obvious use case for the token is for it to be used inside other browsers. This means that the BAT ecosystem will extend out to anyone using any of the current popular browsers.
- Telegram bot: In messaging apps like Telegram, we foresee the possibility of users being paid in BAT to view one ad.
- WeChat official account: WeChat has become a robust system of bots, payments, and other solutions. We foresee the creation of different WeChat solutions integrating the the token.
- Token and Status: The BAT also has attention-based applicability inside the Ethereum-based messaging/payment platforms such as Coinbase’s new Token app and Status app.
These apps must be fraud-resistant if they are to participate.
Why generate a distinct token, as opposed to using Bitcoin?
BAT is not a digital currency, it is a utility token. It can be used as a unit of account between advertisers, publishers, and users on the BAT platform, and can be utilized to directly measure, exchange, and verify attention. Bitcoin would not enable this distinct, in-platform problem solving. Also, an integral part of the token sale was the creation of the BAT user growth pool (UGP) of 300 million tokens, which will be used to incentivize users to join the BAT platform. Finally, using BAT on Ethereum allows for faster scalability than using Bitcoin.
How do I view BAT tokens in my wallet?
You can view BAT token balance in your non-hosted Ethereum wallet that supports ERC20 tokens by watching the BAT contract.
- BAT Smart Contract address: 0x0D8775F648430679A709E98d2b0Cb6250d2887EF
- Number of Digits: 18
- Symbol: BAT
Which wallets can be used to store BAT?
Will I lose my BAT after 6 months?
The Basic Attention Token (BAT) is built upon the ERC20 token standard. As such, any purchased BAT are not subject to a 6-month "use it or lose it" policy.
In the near future, we will use tokens set aside in the User Growth Pool (UGP) to incentivize users to join the platform. If these tokens are not claimed by recipients within 90 days then they will be returned to the UGP.
What is the roadmap?
The BAT 1.0 Roadmap is available here.
I transferred some BAT from one wallet to another and it never arrived. Can you help me?
We don't maintain, or have any control over, the wallets where you choose to store your BAT, so we can't help you directly. However, we suggest that you contact the wallet provider for both the source and destination and ask for their help. In particular, if you have a transaction-identifier (txHash) we suggest you include that in your query.
Why is the Domain Administrator based out of Panama?
Domain administration is not handled in-house, and has no relevance to project operations.
Administrator WhoisGuard Protected WhoisGuard, Inc. P.O. Box 0823-03411 Panama Panama Panama Panama +507.8365503 Panama
What are the VAT/GST implications of my voluntary contribution?
At this time Brave does not believe the voluntary contributions are subject to VAT/GST, on the basis that they represent pure donations and are not linked to any benefits being derived by the voluntary contributor or another third party. The Brave browser gives all users exactly the same level of experience, regardless of whether such users are voluntary contributors to publishers.
However, as provided in the Brave Payments Contributor Terms of Service, you are responsible for determining what, if any, taxes apply to your voluntary contributions. You are also responsible for withholding, collecting, reporting and remitting the correct taxes, if any, to the appropriate tax authorities. You may wish to consult a tax advisor regarding these issues.
BAT Sale, Distribution and Fund Use
What crypto-currencies were accepted during the sale?
What is the distribution of tokens?
One billion BAT was sold. In addition to the tokens sold, we created a development team pool of 200 million tokens. Finally, we created a user growth pool (UGP) of 300 million BAT. To learn more about the UGP, please see the following chart and more information below:
|BAT Contract||BAT Total||Distribution|
300M User Growth Pool
+ 66.35M Development Pool
(180 Day Lockup)
What was the value of BAT sold? Will there be a follow-on sale?
We sold the equivalent of 156,250 ETH, or 1 billion tokens. We do not plan to have a follow-on BAT sale.
What was the sale price at the time of token sale?
The ICO price on the sale date of May 31, 2017 was 1 ETH to 6,400 BAT.
What is the BAT smart contract address?
We are providing the BAT smart contract address as a matter of information: 0x0D8775F648430679A709E98d2b0Cb6250d2887EF. However, the token sale is over so DO NOT send any ETH here or it will be sent back. Also, DO NOT send any BAT or other types of tokens here, it will be lost.
How will the user growth pool be used?
An integral part of the token sale is the creation of a user growth pool of 300 million tokens. These tokens will be used to incentivize users to join the BAT platform. We anticipate that when users download the Brave browser they will be rewarded with tokens. The final number is not yet determined. Potentially, this could prompt tens of millions of users to join.
Once in the system, users will be able to obtain services and gain and spend BAT in a number of different scenarios. Users will be able to use tokens in exchange for premium content from publishers. Users will also be able to donate tokens to publishers. The Brave browser already has a donation system in beta. Publishers could also incentivize users to download their app with BAT. We are confident there are many other services and use cases that will surface as the ecosystem comes to life.
When the token sale was completed, where were the funds (ETH) stored?
We use the standard Ethereum multi-signature wallet to store the ETH paid for the BAT.
BAT and Brave
Is BAT Hiring?
We are actively seeking individuals who share our vision for the future of ad-tech, and the attention market. To view currently-available positions, visit our Jobs page. Applicants are encouraged to apply directly―not by means of a recruiter or other representation.
Explain the Brave and BAT products and how they work together.
BAT is a utility token for a new, blockchain-based digital advertising and services platform. Brave is a privacy-focused, secure web browser that blocks ads by default and provides surfing speeds up 7x faster than its competitors. Brave currently runs an experimental automated and anonymous micro-donation system for publishers called Brave Payments. The BAT platform will absorb the Brave Payments ledger, which will migrate from Bitcoin micropayments to BAT microdonations in the near future. The platform will further extend this work into advertising. Users have the choice of whether or not to opt-in to see ads, which use a separate open source component. When users opt-in to receive ads in the platform, ads will be privately matched to their interests and anonymously confirmed. Publishers are rewarded accordingly with tokens. The user remains anonymous to all parties. Users who opt-in will also get a share of BATs and can use them on premium products, donate them back to publishers, etc.
How can a publisher apply to become part of BAT platform that is being integrated into the Brave browser?
If you are a publisher or content provider interested in joining the BAT platform on Brave, the best way to get going is join the current Brave publisher program here. Then we will transition you onto the Brave BAT platform once it is launched.
When will ads in the BAT platform be available to opt-into in the Brave browser?
Early ad trials are projected to begin this fall. See our road map for more details regarding ad development and scheduling.
When will Brave Payments be migrated from BTC to BAT?
BAT wallet integration, and migration from BTC to BAT in the Brave browser is projected for the Mercury Phase (Summer 2017) in our road map. See our road map for more information.
What are some names of publishers that have signed up for Brave and will be transitioned to the BAT once the platform is finished?
How many users does the Brave browser have?
Brave app installations are available from the Apple iOS and Google Play Stores. We do not make public the number of users on Windows, OSX and Linux.
How does BAT deal with ad fraud?
We’ve covered the problems with ad fraud in the existing ad model in this post, but here are just a few ways that BAT deals with ad fraud: the token eliminates third-party traffic sourcing, and the Basic Attention Metrics (BAM) system reduces fraud entry points. The code will be auditable as open source, with attention and engagement verified using Zero-Knowledge Proof (ZKP) protocols. Ads and payouts will be rate limited, and user growth pool token awards distributed over time to make bot operations less desirable.
Does the recent SEC bulletin affect BAT?
We and our counsel at Perkins-Coie are confident that the Basic Attention Token is properly classified as property with utility on the platform we are building, and not a security. We were glad to see the SEC call out utility tokens as unique from security tokens in their report on the DAO token (which was clearly a security, not a utility property). We welcome the SEC's facts-and-circumstances approach and look forward to greater regulatory clarity and care over time.
Where can I find the whitepaper?
You can find the BAT whitepaper here.
How do I report a security issue?
What should I do in order to transfer funds to my bank account if Uphold is not currently connected to my country's banking system?
We’ve reached out to Uphold for information to help you address this issue.
Uphold is connected to the banking system of many, but not all, countries. Here is current list of countries. Uphold currently supports 34 countries, and Uphold reports that more are on the way.
If your country isn’t on this list, here are some suggestions from Uphold on how to transfer funds from your Uphold account to a bank in your country.
First, please make a request via Uphold to let them know that you’d like them to add support for your country. You can do that by filling out the support request form here. In your request, you should also ask them for a list of exchanges that do serve your country’s banking network.
Next, with that information in hand, you can get an account with such an exchange, get a Bitcoin address for that account, and transfer your funds to that Bitcoin address. From there, you can transfer to your checking account. Note that both Uphold and the exchange you use will employ know-your-customer and anti-money-laundering procedures to verify the origin and destination of your funds.
Unfortunately, there is a downside in terms of fees to this work-around. Here’s an illustrative breakdown of the extra fees so that this process is transparent. Let’s say that you are Canadian, and you determine that the QuadrigaCX exchange connects to your banking network.
First, Uphold charges a fee to convert from another currency to Bitcoin. According to this schedule, the fee would be $2.99 (the withdrawal via crypto fee) plus 1.05% (the Bitcoin fee, which is higher than the USD fee of 0.65%).
Second, the Bitcoin network will charge a transaction fee.
Third, the destination exchange you select may charge you a fee (for example, according to this schedule the withdrawal fee that QuadrigaCX charges for CAD is anywhere from “free” to 20CAD+2% to 5%.
Finally, we would remind you that we are providing the above information for your convenience only, and that you are responsible for complying with applicable legal and regulatory requirements when using an exchange as described above.
The Basic Attention Token is the new token for the digital advertising industry. It pays publishers for their content and users for their attention, while providing advertisers with more in return for their ads.