Basic Attention (BAT) Price

BAT

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Before trading any crypto assets it is important to understand the risks. This overview summarizes certain risks associated with BAT. 

No securities regulatory authority has expressed an opinion about BAT, including an opinion that BAT itself is not a security and/or derivative.

Token Description & Project Background

BAT serves as the native token utilized to incentivize viewers and publishers on the Brave browser. Brave prioritizes user privacy by blocking ad trackers and malware. By eliminating ads in this manner and presenting a user-friendly interface with various search engine options, Brave revolutionizes internet browsing with a fresh and rewarding experience. 

Within this ecosystem, advertisers leverage BAT to remunerate users for ad views and compensate publishers for creating engaging content. The Initial Coin Offering (ICO) for BAT took place in 2017, raising an estimated US$35 million. 

Brave boasts an impressive user base, with over 38 million monthly active users and more than 1.2 million Verified Publishers. The browser was co-founded by Brendan Eich, renowned as the creator of JavaScript and Mozilla Firefox, along with Brian Bondy, previously associated with Khan Academy and Mozilla. 

Risks of BAT

Like an investment in other crypto assets, there are some general risks to investing in BAT. These include:  (i) volatility risk and liquidity risk, (ii) short history risk, (iii) demand risk, (iv) forking risk, (v) code defects, (vi) regulatory risk, (vii) electronic trading risk, and (viii) cyber security risk. For additional information of these and other general risks associated with crypto assets and Uphold’s platform, please refer to the Risks Specific to Holding Digital Assets statement.

In addition to these general risks, an investment in BAT is subject to the following specific risks:

  • The value of BAT solely derives from the adoption of the Brave browser and continued engagement from advertisers, publishers and users. This space is rife with competitors and there are always risks associated such as bugs and hacks with holding cryptocurrencies due to their decentralized nature and open-source software.

We emphasize that this Crypto Asset Statement is not an exhaustive description or summary of all risks associated with BAT. Investors should conduct their own research and perform their own assessment before trading any crypto asset to determine the appropriate level of risk for their personal circumstances.

The BAT community and aforementioned founders are not under any legal or regulatory obligation to disclose material information to the public regarding its activities. Holders of BAT have no recourse to BAT founders, community or Uphold if BAT declines in value for any reason.

Changes to applicable law may adversely affect the use, transfer, exchange, or value of any of your crypto assets, and such changes may be sudden and without notice.

Uphold’s Evaluation Process

Prior to listing BAT on the Uphold Platform, Uphold performed due diligence on BAT and determined that BAT is unlikely to be a security or derivative under relevant securities legislation. Uphold’s analysis including reviewing publicly available information on the following: 

  • The creation, governance, usage, and design of BAT, including ensuring the source code is open-source, audited and peer reviewed, security, and roadmap for growth in the developer community. 
  • The supply, demand, maturity, utility, and liquidity of BAT.
  • Any marketing materials put forward by the BAT social team including on, Twitter, Medium blog, LinkedIn posts, Discord and Telegram channels.
  • Material technical risks associated with BAT, including any code defects, security breaches and other threats concerning BAT and its supporting blockchain (such as the susceptibility to hacking and impact of forking), or the practices and protocols that apply to them.
  • Legal and regulatory risks associated with BAT, including any pending, potential, or prior civil, regulatory, criminal, or enforcement action relating to the issuance, distribution, or use of BAT. 

General

Uphold has prepared this Crypto Asset Statement based on publicly available information. Although Uphold has taken steps to obtain information from apparently reliable sources, information contained in this Crypto Asset Statement may be inaccurate, incomplete or out-of-date. This overview is a starting point for you to perform your own research prior to investing in a crypto asset.

Uphold users should read the Risks Specific To Holding Digital Assets statement for additional discussion of general risks associated with crypto assets made available through the Uphold platform.  

Canadian residents, please note that Uphold has filed an application for registration in certain Canadian jurisdictions but has not yet obtained registration. Until such time as Uphold obtains registration, Uphold has agreed to abide by the terms of an undertaking available at the following link. Please also review the Uphold Canada – Crypto Risk Statement for additional discussion of general risks associated with the crypto assets made available through Uphold Platform. Please be aware that statutory rights of action for damages or rescission in section 130.1 of the Securities Act (Ontario) and, if applicable, similar statutory rights under securities legislation in the other provinces and territories of Canada do not apply in respect of this Crypto Asset Statement or other disclosures on the Uphold website and Risks Specific To Holding Digital Assets statement. 

Last updated on June 21, 2023.

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