DappRadar uses native tokens to shift its business model to DApp stores

DappRadar is a popular platform that provides analysis and portfolio tracking for the decentralized application (DApp) and non-fungible token (NFT) markets. In addition to the release of the local governance token RADAR, it also announced the upcoming company restructuring to achieve Decentralized business model.

The website was established in 2018 and currently has more than 4 million global users, including 600,000 unique active users every month, and hosts more than 8,300 DApps and 27 agreements.

The news was announced during the meta festival event held at Somnium Space on Thursday. The purpose behind the evolution is to expand DappRadar’s ecosystem to a global audience and build itself into one of the world’s leading DApp stores.

Skirmantas Januskas, co-founder and CEO of DappRadar, shared his views on the prospects of community-led platforms:

“Decentralization is at the core of our success, and it is right to take it to a new level-DappRadar is truly decentralized. Bringing the community closer is the only way to stay ahead and remain successful in the coming years. “

Although details about the token release date have not been made public, the official announcement on Friday Suggest The asset is intended to be used in the decision-making process, and users will be “rewarded for their contribution and participation” at launch.

Eligibility requirements, or indeed a fixed release date, have not yet been disclosed; however, a dedicated stock quotation page has been create On the cryptographic analysis platform CoinMarketCap Verify Authenticity, and can only be assumed to be possible preparations for listing on the exchange.

On July 12, the company responded to comments advocating the introduction of native tokens for its asset exchange function. Tweet: “We are exploring a large number of initiatives, and a possible token is one of them.”

DappRadar The first seed funding of US$2.33 million This round of financing was conducted in September 2019, followed by a US$5 million A round of financing conducted by well-known venture capital firms Prosus Ventures and Blockchain.com Ventures in May this year.