Home » Analytics site DappRadar to launch its own RADAR token

Analytics site DappRadar to launch its own RADAR token

by Patricia

The DappRadar platform providing data on the activity of decentralised applications (dApps) will launch its own token: RADAR. The token could potentially be distributed to early adopters of the site

A dApps Store

DappRadar, a site providing data to analyse decentralised applications (dApps), is set to launch its own token called RADAR.

In a statement, Lithuania-based DappRadar said the token will help it decentralise its business in the future. The company also announced that it is repositioning itself towards a full-fledged “dApps Store”, similar to an Apple Store for decentralised applications.

DappRadar provides data on dApps such as activity, token volume and active users. The platform currently supports over 8,000 dapps on more than 25 blockchains, including Ethereum (ETH) and Solana (SOL). It plans to support more networks in the future.

In May, DappRadar had raised $5 million in Series A funding from Prosus Ventures and Blockchain.com Ventures. The startup had previously raised $2.3 million in 2019. Today, the site claims over 4 million users, including 600,000 monthly active users.

Launch of RADAR token

The RADAR token will allow holders to vote on the future development of the platform, as well as access benefits and rewards that have yet to be announced.

The company has not yet revealed details of how it plans to issue and distribute its token. DappRadar could potentially launch the token through an Initial DEX offering (IDO).

It could also perform an airdrop to users who have used the service in the past, as Ethereum Name Service (ENS) or ParaSwap (PSP) has recently done.

Skirmantas Januskas, co-founder of DappRadar, shared his views on the prospect of a community-driven platform

Decentralisation is at the heart of our success and it makes sense to take it to the next level. Involving the community is the only way to stay ahead of the curve and stay successful in the years to come

Related Posts

Leave a Comment