[Asset Onboarding Application] $BAT

  1. What is your motivation for submitting this application?
  • To list $BAT as an asset on Jet.
  1. What is your association with the proposed asset?
  • Brave was the initial issuer of $BAT.
  1. What are the key benefits for the Jet Protocol to onboard the asset?
  • $BAT has one of the widest distributions on Ethereum and is cross chain. It has the support of a thriving community that would bring traffic and awareness to Jet.
  1. What are the known limitations of the asset?
  • $BAT liquidity on Solana is not very deep at the moment. This move will bring more liquidity.

Project Profile

  1. Please provide a brief, high-level description of the asset’s native ecosystem (project), including the protocol’s type (peer-to-peer/ peer-to-liquidity/ etc.).
  • $BAT (Basic Attention Token), is a token for a decentralized ad exchange. It compensates the browser user for attention while protecting privacy.
  • $BAT connects advertisers, publishers, and users and is denominated by relevant user attention, while removing social and economic costs associated with existing ad networks, e.g., fraud, privacy violations, and malvertising. BAT is a payment system that rewards and protects the user while giving better conversion to advertisers and higher yield to publishers.
  1. Who are the founding members? What is their current involvement with the project?
  • Brendan Eich and Brian Bondy are the co-founders of Brave.
  1. Please indicate the ICO date, initial price, valuation of the token, and total capital raised (both in USD and crypto amounts).
  • 8AM PST May 31, 2017 block number 3,798,640
  • 6400 BAT per ETH
  • Raised: 156,250 in ETH.
  • Available for sale: 1,000,000,000 BAT
  1. How much of the capital raised via the ICO was converted into FIAT (in terms of FIAT currency and amount of tokens?
  • No data found
  1. What was the way of issuing and distributing the tokens? Were there pre-ICO investors?
  1. What is the current token distribution (project team vs. investors vs. public)?
  • See token distribution: Here
  1. Are there any fees generated by the protocol? If yes, please provide details and amounts.
  • 70% of the revenue Brave earns through these unobtrusive, privacy-preserving ads is shared directly back with users as Brave Rewards.
  1. Is the protocol audited? By what firms? Please provide link(s) to the audit documentation.
  1. Is the protocol open source? If yes, please provide links to the repository.
  1. Other relevant project data or comments:
  • N/A

Asset Profile

  1. Asset name:
  • $BAT
  1. Asset type (native/ wrapped):
  • Wrapped
  1. Please provide a one-sentence description of the asset:
  • BAT – the crypto asset for the new Internet economy. Blockchain-based digital advertising.
  1. What’s the purpose of the asset within its native ecosystem?
  • BATs are tokens in a new Blockchain and attention-based digital advertising platform. BATs are sold as a functional good
  1. Does the asset have any use outside of its native ecosystem (integrated protocols)?
  • BAT has the versatility to serve as a tradable cryptocurrency, as well as being staked on centralized exchanges and utilized as a reliable store of value.
  1. Please provide all Smart Contract addresses. If the project is open source, detail how the Smart Contracts are implemented.
  • BAT Github: Here
  • Address: EPeUFDgHRxs9xxEPVaL6kfGQvCon7jmAWKVUHuux1Tpz

Asset Liquidity

  1. What exchange (s) support the asset?
  • Cex: Binance, Coinbase, crypto(dot)com, among others. See chart above
  • Dex: Orca, Jupiter
  1. Where is this asset primarily traded? How much liquidity is available in the top venues?
  1. Please provide 7-day asset trading history (daily aggregated trading volumes for trading pair of asset with USDC).
  • See 24hs volumen: Here
  1. A Pyth oracle is required to successfully onboard an asset to the Jet Protocol. Confirm there is an active Pyth Oracle price feed, or provide insight into the asset’s timeline for onboarding to Pyth.
  1. How often does the asset drop significantly in price? Please provide a link to the price history.
  1. For stablecoins only: Has the asset ever lost the peg? If yes, for what reason?
  • N/A
  1. For algorithmic stablecoins only: Please provide details on the risks associated with the design.
  • N/A
  1. For wrapped assets only: Which bridges are used? Are they custodial or non-custodial? Are they audited?
  • Portal bridge (Wormhole) is a non-custodial bridge. Audits can be viewed here.
  1. What amount of asset’s liquidity exists in the integrated protocols (if applicable)?
  • Orca: 16.000 USDC
  1. List any parties interested in taking part in liquidations for the proposed asset type.
  • N/A

Key Mechanics

  1. How many active addresses/ users currently hold the asset?
  • See holder lists: Here
  • Addresses: 428
  • Active Addresses: 7
  • Current Supply: 321,377.39
  1. Please provide a brief overview of the tokenomics.
  • The initial distribution of Basic Attention Token (BAT) tokens is as follows:
  • 66.67% is allocated to Investor
  • 20.00% is allocated to User Growth Pool
  • 13.33% is allocated to Brave
  1. Is the asset supply expected to increase or decrease over time? Is there a token burn mechanism? Is the project able to mint more tokens in the future?
  • Fixed Supply: 1,500,000,000
  1. Please explain the staking mechanism (if any).
  • N/A
  1. Please explain the slashing mechanism (if any).
  • N/A
  1. Are there tokens on a vesting schedule? If yes, what is that schedule and related vesture limitations?

  • The max supply of this token is capped at 1,500,000,000. The supply of Basic Attention Token (BAT) has fully vested.
  • As of the time of writing, 1,497,353,045 BAT (99.82%) of the total supply of 1,500,000,000 BAT are in circulation.
  1. Are any tokens allocated for specific purposes or issuance schedules (e.g. liquidity mining)?
  • N/A

Legal Profile

  1. Is the project or the asset owned by any incorporated organization?
  • Yes, Brave Software, Inc
  1. In which jurisdictions was the token issued?
  • Brave Software’s headquarters are in San Francisco, California
  • Under the jurisdiction of Cayman Island
  1. Was the token issued as part of a regulatory process (e.g. securities offering)?
  • No
  1. Was the token issued as part of a fundraising process?
  • Yes. See fundraising: Here
  1. Has the project or the asset obtained any legal opinions on the regulatory standing of the token? If yes, please provide links to the relevant documentation.
  • No opinion found
  1. Has the project or the asset had any legal interactions? If so, describe and provide documentation.
  • No


Link to project’s white paper:

Link(s) to active communities related to the project:
BAT Telegram Group

Link(s) to project’s documentation portal/ source code for the system(s) that interact with the proposed asset:

Link(s) to audits - both procedural and Smart Contracts:

Link(s) to legal opinions:

Link(s) to other legal material:

Other relevant links:

List all relevant Solana addresses here:

  • Token Address: EPeUFDgHRxs9xxEPVaL6kfGQvCon7jmAWKVUHuux1Tpz
  • Mint Authority: BCD75RNBHrJJpW4dXVagL5mPjzRLnVZq4YirJdjEYMV7

Marketing / Campaign Material

If you have additional marketing material, recorded discussions, or collateral onboarding campaign material, link here:

The poll below has been added by the JetDAO Governance Committee and is solely for signaling purposes to showcase the sentiment of the community.

Should $BAT be included as an asset type on Jet Protocol?
  • Yes
  • No
0 voters

The JetDAO Governance Committee has completed a high-level review of this Asset Application and determined the asset as acceptable to continue with the Onboarding Application. This is not an endorsement of the asset from the Governance Committee.

To continue the onboarding process, we have launched a 7-day off-chain community sentiment poll (see original application post) to gauge the interest of onboarding this asset, as well as help facilitate the community discussion.

Following the conclusion of the Poll, the Governance Committee will publish a summary of the CODEC assessment with a formal decision of allowing the Asset to move forward with the On-chain governance vote and potentially onboarding.

This Poll will run 7 days, and is used to gauge the interest of the Jet Protocol Community on Onboarding this asset as a collateral to Jet Protocol

1 Like

Dear JetDAO Community:

Presented here are the outcomes of the Off-Chain process, along with the summary of the CODEC assessment received by the $BAT asset from the Governance Committee, which is enclosed herewith.

All $JET stakers are invited to participate in the upcoming On-Chain voting. Please be reminded that to cast your vote, a minimum stake of 1 JET token is required.

The On-Chain voting for $BAT will be conducted through the governance portal, commencing on 08/03/23 and will remain active for the following seven days.

For the latest information, visit:


[Summary of CODEC Assessment ] - $BAT

The following summary exposes the key points from the $BAT Asset Onboarding Domain Evaluation Criteria.

Overall, the Jet Governance Committee endorses $BAT to move forward with an On-Chain vote.

The full CODEC Evaluation Summary can be found here.

Community Vote Summary:
The $BAT sentiment off-chain community poll has concluded with a 100% favorable vote.

On-Chain poll: Jet Governance

Thanks for participating!

hey folks - what are we thinking in terms of the BAT being onboarded? Seeing a large amount of negative votes - curious what the arguments against it are.


Dear Community:

The on-chain governance vote for onboarding $BAT on Jet Protocol has concluded.

The poll to include $BAT as an asset for trading, lending and borrowing concluded with 94% of the vote, and approximately 57.4M tokens, voting IN FAVOR.

In case you want to review the $BAT application, community discussion, and CODEC Summary, please go to this link.