Does this app compromise on the performance of my phone?

No.  In fact the performance of your phone, in terms of CPU usage, battery life, and time required for total page loads, should improve.

In Standard protection mode you should have no performance issues with any app or site as we have designed our algorithms to give you the optimal mix of protection and performance.

In Advanced protection mode we maximize protection and aggressively block trackers which may result in some functions on some apps being blocked.  If you experience this, you can adjust the protection for that specific app, moving it to standard.