As someone who has used Brave since its initial launch in 2019, I have to say the project has greatly exceeded my expectations and formed an amazing bridge between the Web2 and Web3 spaces. The security that Brave has offered and the continuous updates to keep its users safe have been remarkable along with its ability to navigate not only the crypto boom and bust but also the advertisement boom and bust that occurred during the COVID-19 pandemic. It should be said though that Brave is far from perfect and does have various issues I know that the team has been working to address some easier to accomplish than others. 

Users who have opted in to earn BAT rewards arguably have the biggest grip. To have a verified Brave wallet users for the most part have to either have an account with centralized exchange Uphold or Gemini. For the longest time, there was only one option and it was Uphold which to me has the worst user experience I have ever seen so when Gemini came along I was thrilled and counted my lucky starts. Gemini was by no means the perfect or even best partnership but its improvements over Uphold are too many to count. The biggest feature that Gemini had that really put others like Uphold light years behind is not the biggest issue facing the exchange and that was Gemini Earn. 

When you received your BAT in your Gemini account it was free to move it over to Gemini Earn where it was at one point earning over 4% APY before falling to 1.01% APY which many have become more aware of. While not a lot BAT was not something I was looking to actively trade and Gemini had a great name so I figured it was safe enough not to mention it was not like I had 1,000's of BAT there I had only a couple hundred or so. As we now know Gemini's Earn program was not near as safe as many were led to believe and not only is Gemini in trouble but Digital Currency Group's subsidiary Genisis is not looking too hot either. 

The way that BAT works is that Brave Software, the company behind it, buys back BAT before every distribution. This helps create value in BAT as the more they buy back the more that's pulled out of the supply and so the price goes up. BAT has a maximum supply of 1,500,000,000 and all BAT has been issued which is why the buyback feature is in place. While I do not have exact numbers one can imagine that with Brave users overwhelmingly in forums using Gemini that quite a number of BAT are currently trapped in Gemini Earn. Even though this issue arose in the fall/winter of 2022 it has not been resolved which is going to help create a liquidity crunch for the moment. If some sort of agreement is figured out between Gemini and Genisis, however unlikely that is, that frees up BAT it could then create a huge wave of BAT flooding the market and thus crashing the market itself. 

Brave for the most part is really stuck between a rock and a hard place when it comes to what to do as all of this is outside their control. Nonetheless, it is something that could greatly impact them in the future as this issue hopefully is addressed. I have no idea if it could happen but if there was a way for Brave to reach an agreement with these two to get control/ability to return the BAT even if just the initial amount it might be something that would help keep their BAT market more stable and alleviate the issues the company could face in the future. With signs that the crypto market is trying to turn the corner a flood of BAT to depress prices would be something the development team is going to try to avoid at all costs. 

Please know I am not a financial advisor and make sure you do your own research! If you enjoyed this article and would like to support me further below are a few referral links that if you used when signing up I would appreciate it! Also, follow me on Twitter @Cje95_

Fold App

Offers daily wheel spins to win free sats daily! If you sign up for Fold with my link here you will get 50,000 sats for free!  

Robinhood

Robinhood is offering an excellent signup deal if you use my link here where we will both be awarded free stock. All that you have to do is sign up and connect your bank account for the award! With commission-free crypto trading and the ability to set limit orders, it is a great hybrid offering in my opinion! Not to forget the addition of wallets and the ability to send and receive crypto!

Unstoppable Domains

Sign up using my link here and get a free $10 credit towards your first $40+ purchase!