Home News DappRadar launches its own RADAR token

DappRadar launches its own RADAR token

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The analytical service DappRadar, which provides data on decentralized applications (dApps) and non-fungible token (NFT) platforms, has announced plans to launch a native RADAR token.

Thus, the token will help DappRadar in business decentralization. Furthermore, the service plans to redesign into a full-scale dApps store. Also, RADAR holders will be able to make decisions about the development of the ecosystem.

“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”. Said Skirmantas Januskas, co-founder and chief executive officer of the service.

The site already has over 4M global members

Launched in 2018, the site already has over 4 million global members. 600,000 of whom are active on a monthly basis. Moreover, DappRadar supports more than 8000 dApps in more than 25 blockchains, including Ethereum and Solana.

Earlier in September 2019, the service attracted $2.33 million in seed investments. Naspers Ventures led the investment. In addition, Principal, Early-Stage Investment Lead at Naspers Ventures and Banafsheh Fathieh, joined DappRadar.

Later in May 2021, DappRadar raised $5 million in a Series A funding round. Key investors include Prosus Ventures, Blockchain.com Ventures and NordicNinja VC.

NFTs went mainstream

DappRadar has seen record-breaking activity in the NFT sector. With more than $1.5 billion in volume transacted in the first quarter of 2021 alone; up 2,627% from the previous quarter. The service also tracks decentralized finance (DeFi), which is witnessing similar market growth; with over $100 billion in total value locked as of April 2021.

“It’s clear that 2021 is the year that NFTs went mainstream. But we are still only just scratching the surface in terms of the potential widespread adoption of blockchain technology,” Januskas commented.

To give reliable, actionable market insight, DappRadar takes a strong stance on data validity and provision. Following dApp active users, token volume and transactions. Consequently, actively filtering false and irrelevant activities.

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