In Brief:
- DappRadar announced a plan to launch native token “Radar”
- The company is also repositioning a full-scale decentralized app store
- The platform wants to expand DappRadar’s ecosystem across the world
Leading analytics and portfolio tracking platform, DappRadar had announced a plan to launch its native token under the ticker of “Radar”. Also, The company wants to emerge as a prominent DApp store, which will be similar to a centralized app store.
This revelation came from Dapper officials while attending the event in Somnium Space on Thursday. The purpose behind this approach is to boost DappRadar’s reach in the decentralized business across the globe.
DappRadar was introduced in 2018. The website is holding up around 8,300 DApps and 27 protocols on more than 25 blockchains. Due to the availability of a large number of App and protocols, The website successfully covered a 4 million global user base.
DappRadar co-founder and CEO Skirmantas Januskas commented on the moves: “Decentralization stands at the very core of our success and it’s only right to take it to the next level — true decentralization of DappRadar. Bringing the community closer is the only way to keep ahead of the curve and remain successful in the years to come.”
At the time of writing, the date of the token release has not been disclosed, however, the page layout has been uploaded on the crypto analytics platform Coinmarketcap.
Officials from DappRadar suggest that the asset will be used for decision processes and users will be “rewarded for their contribution and involvement” upon roll-out.
The launch of the native token came a few months after DappRadar closed the series A funding round at a $5 million collection. Many famous investors such as Prosus Ventures, Blockchain.com Ventures, Naspers Ventures, and many others were present in this funding round.
Decentralized businesses are ballooning their reach and numerous collaborations are taking place to grow their business. Recently, decentralized exchange ParaSwap launched its native token “PSP”.
