The DappRadar startup aims to decentralize itself with the RADAR token and rebrand itself as a discovery-centric dapp store so let’s read more about it in our latest cryptocurrency news.

Dappradar is a popular blockchain analytics platform that will launch its own token. The startup has not yet announced how it will distribute the token but for the past three years, it shared the data and analytics about the fast-growing dapps and games industry. Now, it has plans to launch a decentralized token and to recast itself as a “dapp store.”

The company announced that it will become the latest blockchain-based platform to launch its own token and to shift to a community-owned model with the token allowing holders to vote on the future developments on the platform but also to gain access to unannounced benefits and rewards. As a part of the shift, DappRadar labeled itself as “the World’s Dapp Store” providing services as a discovery platform for dapps and decentralized games. While these decentralized applications could be built on the same blockchain like Ethereum, they are not connected by a shared storefront like Apple’s App Store, Valve’s Steam, PlayStore, and more. They might not even be welcome on such storefronts since Steam already outlawed crypto games.

DappRadar provides data on the activity and trading volume for plenty of dapps across 27 blockchains from Defi protocols like PancakeSwap, Uniswap to Axie Infinity, and Alien Worlds. DappRader plans to pair its current analytics data on more than 8300 dapps and games focusing on discovery in an effort to provide more background across the expanding blockchain industry. Co-founder and CEO Skirmantas Januskas said:

“We built DappRadar around decentralized apps. 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.”

DappRadar raised $5 million in Series A funding from backers like Prosus Ventures and Blockchain.com while previously raising $2.3 million in a seed round in 2019. the company didn’t yet reveal any details on how it plans to issue the RADAR token but it could sell it via an IDO or a DEX offer. DappRadar could also airdrop tokens to uses that have used the service in the past as the ETH name Service which did the same with billions worth of ENS tokens.

Source: dcforecasts.com

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