Brave Buys Back Over 400,000 BAT Tokens

Brave Buys Back Over 400,000 BAT Tokens

By Bragato18 | Bragato18 | 16 Jun 2020


Today Sampson @BraveSampson tweeted that Brave had purchased 407,262 BAT and the amount had been added to 

brave.com/transparency

Brave

Transparency Data Feed

This page records the Platform Stats and Token Activity

  • Verified Creators by Platform
  • Brave-initiated BAT Purchases
  • Brave Ads - Supported Countries (Active Campaigns)

Brave

There is a footnote at the bottom of the list of recent BAT purchases that states

As part of the Brave Rewards program, users who participate in Brave Ads receive 70% of the advertising revenue. That reward comes in the form of Basic Attention Tokens, purchased with advertiser dollars (or other fiat currency, when the advertiser does not pay in BAT). These routine purchases are listed in the table above.

This explains why Brave is required to purchase the BAT. As the advertiser may not pay in BAT but with dollars or other fiat currency. Then the advertising dollars are used to make the routine purchases.

Transaction Record 

Clicking on the Record Link takes you to the Uphold transaction record 19a4ef85-22ff-449d-929e-8da8dc61b500

It shows that:

  • $93,282.04 USD was paid by bank transfer
  • Uphold member was credited 407,266.567510575156416015 BAT
  • Market Rate was 4.452799366071358397 BAT ($0.224577825720067 USD)
  • 1.95% Exchange Fee of 8,099.641067267940387672 BAT
  • processed at 11.32pm 06/15/2020

Brave

Lets Us Play With the Stats

  • total purchases this year 3,361,023 BAT
  • total circulating supply 1,473,544,645 BAT
  • capped supply 1,500,000,000 BAT
  • only 27,000,000 BAT are left in User Growth and Development Pool. (Thats the FREE BAT used for the referral program and Publish0x tipping pool)
  • only 0.22809% of the circulating supply is actually being used for its intended purpose. The other 99.77191% is being traded on exchanges or HODL tightly by investors. 
  • 24 hour trading volume $59,863,451 USD (approximately 278,434,000 BAT per day)
  • average purchases per day 18,467 BAT (approximately 0.006632% of daily trading volume)
  • 5,000,000 active daily Brave Browser users 
  • 3,800,000 000 active daily Brave Browser users required for purchases to achieve 5% of the daily trading volume

Conclusion

We have along way to go before Brave achieves the Holy Grail of all things Crypto - MASS ADOPTION. Until the Brave-initiated BAT purchases reach a level that have a material effect on the daily trading volume, then its all purely just speculation on our part. 

Can Brave achieve MASS ADOPTION.  I believe they are on track. But Brave don't actually need MASS ADOPTION per se to be a successful and profitable business. It is us HODLers that want or need it more to fund that Lambo dream.

The END

I hope you found this post interesting and informative. I always enjoy doing the research and putting it all together.
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Bragato18
Bragato18

I am a sun sea and sand person, makes chocolate, grows organic vegetables, rides a Vespa and collects crypto. https://twitter.com/PaulBridgman8


Bragato18
Bragato18

Bought our 1st pieces of BTC, July 2017. The process was daunting and confusing. Could easily given up & put it in the too hard basket or have fallen victim to one of the many scams or pitfalls. Grateful to a friend of my son's, who had been in this space for awhile, giving me some good advice & steering me in the right direction. That experience has helped shape my desire to share what I learn. Also always had a morbid fascination with Snake Oil Salesman & their sales pitch; Bitconnect, USI Tech..

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