DappRadar, a global app store for decentralized applications, recently published its January Blockchain Gaming Report, which reviews on-chain metrics and macro events, signaling a positive outlook for gaming in space. Now, DappRadar is releasing major news that reveals what the startup has been working on behind the scenes for the past four months.
Today, Kaunas, Lithuania-based DappRadar introduced the industry’s first cross-chain token staking mechanism, allowing users to claim their staking rewards on any blockchain, regardless of where their RADAR is staked. That’s not all, the new cross-chain token drastically minimizes the fees associated with staking.
DappRadar’s cross-chain token staking is an open-source innovation that aims to contribute to the entire ecosystem. The idea behind this mechanism is to remove barriers for cost-conscious users to participate in staking by removing high fees, thereby democratizing financial inclusion. Additionally, users will earn the same APR on their staking assets across all blockchains, eliminating the need to bridge assets yourself or pay the typically high Ethereum gas fees.
DappRadar also stated that it is not currently running on Ethereum, Fantom, Polygon or any other chain. However, it tracks and covers all types of dapps, including DeFi, NFTs, gaming, and other industries.
DappRadar tracks and analyzes all types of decentralized applications and therefore strongly believes in the idea that the future of the blockchain industry will be multichain, cross-chain and interoperable. To ensure the DappRadar community has the widest possible choice, cross-chain staking will be enabled for all blockchain RADAR launches, meaning it’s not just limited to EVM-compatible chains. The mechanism will also ensure a smooth user experience on all chains.
Explaining the new cross-chain staking, CEO and co-founder Skirmantas Januskas said: “What we’ve built benefits users, especially margin-sensitive users in emerging markets. It also massively improves the cross-chain user experience. The best part is that our innovations are here and anyone can use them. Contributing to the blockchain industry is very important to us and we believe we can achieve much more if we build together.”
DappRadar’s cross-chain token staking was developed in collaboration with the LayerZero protocol, which allows smart contracts to communicate across different chains.
“The LayerZero interoperability protocol was chosen to do the heavy lifting and allow smart contracts to communicate between different blockchains. Significantly, this is not limited to EVM-compatible chains to provide the most comprehensive choice for the DappRadar community,” DappRadar said in a blog post.
DappRadar’s native token: RADAR
When DappRadar first launched their RADAR token in December 2021, they knew at the time that it was a must-have for it to work cross-chain. RADAR is a utility token that was first launched on the Ethereum blockchain and listed on major crypto exchanges such as Crypto.com and Huobi Global.
DappRadar’s “Contribute2Earn” approach allows community members to earn RADAR by contributing to the DappRadar ecosystem. 5,000 RADAR holders get access to DappRadar PRO features that provide access to exclusive analytics, features, content and reports. With just 1 RADAR, a community member can participate in the governance to shape the future of DappRadar.
RADAR cross-chain token staking will be available on every chain RADAR launches on, allowing users to stake their RADAR tokens on one chain and claim their rewards on any other chain, regardless of where they were staked.
To learn more about the DappRadar token, you can visit the blog entry and the to lead to learn more about RADAR Cross-Chain Token Staking.
Founded in 2018 by CEO Skirmantas Januskas and Dragos Dunica, the DappRadar platform enables users to track, analyze and discover decentralized applications. With 9,000+ dapps, 30+ protocols and an audience of over 1 million monthly users worldwide, DappRadar is already the premier dapp exploration platform. DappRadar now tracks over 3,000 dapps on more than 45 blockchains including Ethereum, EOS, ONT and TRON and plans to expand to others.