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DappRadar Unveils Industry-First Cross-chain Staking With Low Fees on Any Blockchain

Blockchain

thenewscrypto.com 01 July 2022 08:45, UTC
  
Reading time: ~2 m

DappRadar provides high-quality and reliable data on decentralized apps and is the world’s largest Dapp store. DappRadar is the first to provide cross-chain staking, allowing users to claim rewards from any blockchain while paying much less in transaction fees. It has launched an industry-first cross-chain token staking mechanism, enabling users to receive their staking rewards on any blockchain and dramatically reducing the costs associated with staking.

One of DappRadar’s open-source innovations, cross-chain token staking, is meant for the entire ecosystem. This approach’s primary goal is to allow cost-conscious consumers access to the staking process by reducing hefty costs. APRs for staked assets across all blockchains will be identical, removing the need for users to bridge assets themselves or to pay the customary high Ethereum gas costs for this purpose.

DappRadar keeps tabs on a wide range of decentralized apps. As a result, the company believes in the concept that the blockchain industry’s future will be multichain, cross-chain, and interoperable. Cross-chain staking will be available for every blockchain RADAR debuts on. It won’t be restricted to just EVM-compatible chains, ensuring the DappRadar community has the most options possible. Thanks to the new methodology, users should expect a seamless experience across all chains.

CEO and co-founder Skirmantas Januskas said:

“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.”

Cross-chain token staking is made feasible by working with the LayerZero protocol, which allows smart contracts to interact across multiple blockchains.

Native Token of DappRadar: RADAR

RADAR is a utility token initially issued on the Ethereum blockchain and listed on prominent crypto exchanges, including Crypto.com and Huobi Global.

As part of DappRadar’s “Contribute2Earn” strategy, community members may earn RADAR by contributing to the DappRadar ecosystem. Pro features include special statistics, content, and reports unavailable in the free DappRadar service. To participate in the governance of DappRadar’s future, even a single RADAR may be held by any member of its community.

For those who want to stake tokens across many chains, RADAR’s Cross-Chain Token Staking will be accessible. This means that users may stake their tokens on one chain and get rewards on another. To understand RADAR Cross-Chain Token Staking, check out the blog article and the guide.


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