DappRadar Pioneers Cross-Chain Staking

June 30, 2022 1:48 PM EDT | Source: InboundJunction Ltd.

Kaunas, Lithuania--(Newsfile Corp. - June 30, 2022) - DappRadar, the world's dapp store that brings high quality, accurate insights on decentralized applications, has announced an industry-first cross-chain token staking mechanism, allowing users to claim their staking rewards on any blockchain and minimize the fees related to staking drastically.

DappRadar's cross-chain token staking is an open-source innovation that aims to contribute to the whole ecosystem. The idea behind this mechanism is to remove barriers for cost-conscious users to participate in staking by eliminating high fees, thus democratizing financial inclusion. Users will earn the same APR for their staked assets across all blockchains, thereby eliminating the need to bridge assets themselves or pay the typical high Ethereum gas fees.

DappRadar tracks and analyzes all kinds of decentralized applications, and therefore, is a big believer in the idea that the future of the blockchain industry will be multichain, cross-chain and interoperable. To ensure the DappRadar community has the most comprehensive choice possible, cross-chain staking will be enabled for every blockchain RADAR launches on, meaning it won't be limited to only EVM-compatible chains. The mechanism will also ensure a smooth user experience on all chains.

CEO and co-founder, Skirmantas Januskas, explained, "What we have built is in the benefit of the users, especially the margin-sensitive users in emerging economies. It also improves the cross-chain user experience massively. The best part is, what we innovated is here and anyone can take it and use it. We care deeply about contribution to the blockchain industry and we believe that we can reach much higher when we build together."

DappRadar's cross-chain token staking is made possible by cooperating with the LayerZero protocol, which enables smart contracts to communicate across different chains.

DappRadar's Native Token: RADAR

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 gain access to DappRadar PRO features, which provides access to exclusive analytics, features, content and reports. By holding even 1 RADAR, a community member can participate in governance to shape the future of DappRadar.

RADAR Cross-Chain Token Staking will be available on any chain RADAR launches on, allowing users to stake their RADAR tokens on one chain and claim their rewards on any other chain, no matter where they were staked.

You can visit the blog post and the guide to learn more about RADAR Cross-Chain Token Staking.

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 more than 10,000 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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Media Contact:
Dan Edelstein

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/129650