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, we have not encouraged or facilitated this exchange trading in any way. We have provided 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.
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?
BAT is an ERC20 token, and can be stored in ERC20 compatible wallets. We do not recommend a particular product, but some users report storing their BAT using a Ledger Nano S hardware wallet and MyEtherWallet.
What is the roadmap?
The BAT 1.0 Roadmap is available here.
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:
300M User Growth Pool
+ 66.35M Development Pool
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
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.
Where can I find the whitepaper?
You can find the BAT whitepaper here.
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.