DeFi Analytics Platform DappRadar Set to Launch Own Token and Dapp Store

November 30, 2021, 10:30 AM AEST - 5 months ago

A leading platform to help people find and understand the market performance of decentralised applications (dApps) – DappRadar – has announced it will transition to a dApps store and launch a native token called RADAR. 

A go-to source for comparing the performance of dApps, DappRadar tracks and analyses market data (user numbers, activity, transaction volumes) for over 8,000 dApps used for gaming, trading, NFTs, finance and more – across 20 blockchains, including Ethereum. Users can easily find and track the most highly ranked dApps, and developers can use the platform to reach new users.

Towards Greater Self-Sufficiency

In its November 26 announcement, the crypto startup said that introducing a native token would support its aim to “become a community-curated project, with an ecosystem that is self-sufficient within the greater infrastructure of Web3 and the future of decentralisation”.

$RADAR holders will be able to take part in decision processes and be rewarded for their contributions within the DappRadar ecosystem. A launch date for the token has yet to be announced.

According to Skirmantas Januškas, DappRadar co-founder and CEO:

Decentralisation stands at the very core of our success and it’s only right to take it to the next level – true decentralisation of DappRadar. Bringing the community closer is the only way to keep ahead of the curve and remain successful in the years to come.

Skirmantas Januškas, CEO and co-founder, DappRadar

In addition to launching a native token, DappRadar signalled that its platform would now be known as “The World’s Dapp Store”, enabling purchases and providing a marketplace where dApps are curated based on quantitative methods. The marketplace will take zero commission from dApp creators. 

Launched in 2018, DappRadar is based in Lithuania and backed by Naspers Ventures, Ventures, and Angel Invest Berlin.  

Growth of dApps Fuels Blockchain Networks

A growth in the creation of dApps is fuelling the growth of blockchain networks and the evolution of traditional apps.

Layer-2 scaling solution Polygon revealed in October that it was becoming less dependent on Ethereum due to the adoption of its network for natively launched dApps. 

Social media app Twitter announced a new hire in November to lead its ‘Crypto Twitter’ team to incorporate crypto, blockchain and dApps into the platform.

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