Bread
Crypto Overview
Overview
BRD (formerly Bread) was a mobile cryptocurrency wallet application that also had its own token. The BRD token was designed to provide benefits to users of the Bread wallet, including trading fee discounts and additional features. In December 2021, Coinbase acquired the BRD wallet team and technology.
Purpose and Utility
The BRD token was primarily intended to serve as a utility token within the Bread wallet ecosystem. Token holders received perks such as discounted trading fees and premium features within the wallet application. After the Coinbase acquisition, BRD token holders were given the ability to swap their tokens for Coinbase tokens.
Business Model Evaluation
The business model was straightforward and transparent - users could hold BRD tokens to receive benefits within the wallet ecosystem. The wallet itself served as a legitimate cryptocurrency storage and trading platform, with no evidence of involvement in impermissible activities.
Real-World Adoption
The Bread wallet achieved significant adoption with over 10 million downloads globally before being acquired by Coinbase. The BRD token saw active trading and utility within this ecosystem while it was operational.
Development Activity
Development was active until the Coinbase acquisition, after which the team transitioned to working on Coinbase's wallet infrastructure. The original BRD token is now effectively deprecated following the acquisition.
Crypto Impact
To assign a comfort level investing in Bread from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Bread.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.