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In a recent report, Brave Browser said that over 11% of BAT, their native token, is being actively utilized in DeFi protocols, mainly in Uniswap and Compound. BAT Usage In Compound, Uniswap, And Aave Brave, a privacy-focused browser that rewards users with Basic Attention Token (BAT) when they view advertisements, said more than 167 million BAT were locked in DeFi protocols in 2022.  Related Reading: DeFiLlama Releases Special Uniswap v3 Router For Optimism This comes when the broader crypto and DeFi markets contracted as asset prices fell during the recent winter. BAT prices fell from $1.59 in late 2021 to $0.27 in early March 2023, an over 80% drop. DeFi is a channel through which ordinary users can access complex financial products while being in charge of their assets.  Based on the Ethereum ERC-20 standard, BAT is fungible. It can be shifted between protocols depending on the holder’s needs.  More users, Brave revealed, prefer engaging with Uniswap, a decentralized exchange on Ethereum and other blockchains, Compound, a lending and borrowing protocol, and Aave, a decentralized money market. However, how much BAT was locked up in the above platforms is not immediately clear. When writing on March 4, Compound had a total value locked (TVL) of over $1.8 billion. Aave and Uniswap were the two largest protocols, with TVL of $4.6 billion and $3.9 billion, respectively.  270 Tokens Held By Exchanges Mainly In Binance Over 99% of the total 1.5 billion BAT tokens are in circulation; a big chunk remains in centralized exchanges. As an illustration, more BAT tokens are held in platforms like Binance and Crypto.com than those held in non-custodial wallets, engaging in DeFi.  At present, over 18% of the total supply, or 270.78M BAT, is in the hands of centralized exchanges. Out of that, over 37% are held in Binance Global and their subsidiary in the United States. Meanwhile, holders prefer to hold their tokens at Bittrex, Gemini, and Bitflyer. Related Reading: Crypto Fund, Arca, Doubles Down On These Two DeFi Protocols Brave expects more users to shift their tokens to their control following the release of the multi-currency Brave wallet. The browser notes that 464,289 holders make the platform the 13th most distributed in Ethereum.  With more people set to use the Brave Wallet, following integration in networks such as Polygon, Ethereum, Solana, and the BNB Smart Chain (BSC), the number of individual BAT holders across various blockchains would increase, further decentralizing it. Feature image from Canva, Chart from TradingView