*obligatory not financial advice*
What is DappRadar?
DappRadar is one of the most popular dApp explorers. You can use it to search thru all the listed dApps on the supported networks to learn more about them and to see important data like how many transactions they are processing daily. It is a great and simple tool to learn about crypto and research about projects.
The discovery of new projects is essential for the adoption of new cryptocurrencies and their applications. Previously you could only find out about new projects thru social media platforms like Reddit and Twitter. This is a problem because it makes it hard for new members to join and limits the users of a new project to people that are putting a lot of effort into finding it. A "dappstore" provides most necessary data to anyone who is interested in a simple way and thus helps the adoption of cryptocurrencies.
DappRadar is providing data for more than 9,000 dapps across about 30 different blockchains. It provides data for all kinds of decentralized applications like DeFi, NFT Collectables, Marketplaces, Blockchain Games and more. It also offers an industry overview where you can see how many transactions smart contract chains currently handle and on how many transactions are happening for each kind of dApp. On top of that it also has a portfolio tracker that you can connect to your address, an NFT value estimator, a token explorer and also its own swap. DappRadar is a platform that is offering pretty much everything any crypto fan needs.
DappRadar is currently centralized but it has launched its own token and will slowly move towards being more decentralized. Since the platform is very popular and has plenty of users, its token has a lot of potential too.
The RADAR Token
RADAR is the native token of DappRadar and it exists on the Ethereum blockchain. It is giving its holders limited governance rights regarding the listings of new dApps or products offered. Since DappRadar is ironically not a dApp, the DAO rights are rather limited for now, but the platform is planning to move closer to decentralization. The token also makes premium features available to its holders and if you pay fees for certain services with RADAR you are getting a discount. More utility could be added in the future.
You can earn more RADAR by providing liquidity on selected pairs on DEXes. This year they also want to build a Contribute2Earn feature where the community is earning the token for curation and other types of contribution.
RADAR has a max supply of 10 billion tokens. 10% of the supply was airdropped to Ethereum users that either interacted with 10 different dApps that are listed on DappRadar or interacted with at least 1 and had their address connected to a DappRadar account. 25.25% were put aside for the team and shareholders. 24.75% were put in a treasury. And the remaining 40% are used for various rewards for the community. The tokens of the team are being locked until December 2022 and the entire supply will be circulating at the end of 2025. A surprisingly large amount of the supply is going to the users considering the platform is at least currently centralized.
The value of the token depends on how many users DappRadar has. The more users it has, the more payments will be made with RADAR tokens and the demand for premium features will increase too. There will also be demand for founders of dApps to hold the token to vote to get their project listed on the dappstore. However, the token does depend on a centralized platform. Still it has a lot of potential due to its low market cap and the popularity of the platform. The Trust Wallet Token has a lot less utility and its governance rights are also very limited, but it increased a lot in value since its launch, likely because the wallet is so popular, which means that RADAR could perform well too.
The token is not listed on many exchanges but you can buy it on MEXC and Crypto.com. You can also buy it on the SushiSwap DEX if you have enough ETH but keep in mind that the gas fees could be very high. You can store it in any Ethereum Wallet like MetaMask.
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