DappRadar Launches RADAR Token

KAUNAS, LITHUANIA / ACCESSWIRE / December 14, 2021 / DappRadar, The World's Dapp Store, has launched its native RADAR token, after unveiling key utilities and features at an event held this evening in the Somnium Space metaverse. Crucially, the platform confirmed that the token will have no pre-sale, fully rewarding the dapp community.

The RADAR token will be airdropped to loyal DappRadar users and partners, as well as to long-term dapp users, with token rewards for participation planned in the future. The RADAR token is based on Ethereum, but as the spearhead of multi-chain adoption, DappRadar plans to bridge the token to other chains.

At first, the RADAR token will provide a number of utility functions for using the DappRadar platform, including access to DappRadar PRO features, staking and governance for the nascent DappRadar DAO. In addition, RADAR will become an option for paying for DappRadar services, potentially granting a discount.

The token's primary objective, however, is to fill the missing link between dapp creators, the aggregation and data indexing services offered by DappRadar, and end users, so as to create a community-led dapp store. Contribution is an important step of this process, and there is nothing more comprehensive and authentic as a decentralized community contribution process. For this reason, DappRadar users will be able to engage in "Contribute2Earn", a novel mechanism rewarding users with RADAR for contributing and finding the best dapps to include in The World's dapp Store.

With these four token utilities: access to premium features, staking and governance, payments, and participation rewards, DappRadar aims to become the one-stop shop for dapps, much like today's mobile app stores (but with none of the rent extraction).

DappRadar has been the leading dapp aggregator and statistics tool since 2018. By focusing on community and multi-chain pluralism, it counts over 1 million unique users monthly and 9,000 dapps listed across more than 30 protocols. Its features include the Portfolio Tracker, to help users manage the value of their crypto asset portfolio, as well as copy-trading opportunities thanks to the ability to track other wallets. Additionally, DappRadar offers the NFT and ERC-20 explorer, to help with finding new tokens, and the NFT Value Estimator, which helps provide metrics to evaluate an entire collection beyond the crude method of floor value.

The RADAR token will be airdropped to loyal DappRadar users and long-term dapp users -- regardless of whether they use DappRadar -- with an initial drop of 10% of the supply, and based on an October 19 snapshot. After the initial airdrop, 40% of the supply will be gradually distributed to the community as Shareholders and the Team shares vest over 4 years.

"With more than a million active users and thousands of dapps listed, DappRadar -- which we started as a weekend project -- has grown to truly humongous sizes," said Skirmantas Januškas, co-founder and CEO of DappRadar. "We decided to reward long-time dapp users through the RADAR token, giving them influence over the platform. It's important for us to reward the community fairly, so we did not use this as an occasion to raise funds. So the RADAR token has no pre-sale or additional investor allocation, which I think is getting hard to see in this space."

Elaborating further on the distribution mechanics, Januškas said: "We took the snapshot before even communicating the date to our partners and investors, because, on the one hand, we wanted to make absolutely sure there are no leaks or abuse, and on the other, because we wanted to place our entire community -- investors and users alike -- on equal footing by only communicating the date post-factum. Similarly, we decided to drop the RADAR token not only to DappRadar users, but to long-term dapp users too, regardless of whether they've used our platform. This is because we view the dapp community holistically and are working towards a future that's good for all dapp users."

About DappRadar

Founded in 2018, DappRadar is the The World's Dapp Store: a global decentralized applications (dapps) store, which makes it easy for its base of more than 1 million users per month to track, analyze, and discover dapp activity via its online platform. The platform currently hosts 9,000 dapps from across 30+ protocols and offers a plethora of consumer-friendly tools, including comprehensive NFT valuation, portfolio management, and daily industry-leading, actionable insight.

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SOURCE: DappRadar

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