DeFi Brewer’s Alliance looks to unite Connecticut beer drinkers with crypto

Before the ongoing crypto slump, it was great to invest in the digital currency. 

Amid the spike, a group of Connecticut crypto investors and beer enthusiasts came up with an idea to merge the local beer community with cryptocurrency. That idea became the DeFi Brewer’s Alliance, a new group of local brewers that aim to revolutionize the cryptocurrency market with their own crypto token: the DBAT token.  

“We came up with the idea last October when of few of us who home brew and also invest in digital currencies wanted to do something different and create our own token tied to a physical product,” said Alex Zamachaj, one of the co-founders of the DeFi Brewer’s Alliance. “We saw that a majority of the digital coins and tokens didn’t have something tangible and concrete for people to see where their money was going and we wanted to change that.”

To understand how the brewer’s alliance works, it is important to understand what a DeFi is. According to the New York Times, DeFi is a short term for decentralized finance. It is a “internet-native financial system” that acts like a sort of bank or stock exchange for cryptocurrency. It also operates in other ways such as being a lending platform for cryptocurrency and offering options and derivatives.

Zamachaj likens the DBAT token to a “stock.” Breweries and their customers will invest through purchasing a DBAT token, and in turn, grow their crypto wallet. The token will be tied to “DeFi project-oriented brews” that are brewed by local breweries in the alliance. Currently, there is one beer being brewed specifically for DeFi: the reflections IPA. Additionally, on a monthly basis, the alliance plans to have partners exchange unique recipes with one another. 

Oxford’s Black Hog Brewing Company is currently partnered with DeFi but the alliance said it is looking at expanding to one or two more Connecticut breweries as well as “small to mid-size breweries across the country.”

According to the company, 45 percent of sales from the beers go back into buying back and “burn” the DBAT token, in turn increasing its value. An additional 5 percent from sales will go to charity. There are 6,153,420,000,000 tokens available in total, which symbolizes the amount of beer brewed globally, in ounces, in 2020.  

Pre-sales will be limited for DBAT tokens, and will be released at a future date.