The analytics service DappRadar, which provides data on decentralized applications (dapps), has launched the RADAR token on the Ethereum blockchain and announced the start of the airdrop.
$RADAR is now LIVE! 🎉
Give a warm welcome to the token scaling The World’s Dapp Store.
Everything you need to know 👇https://t.co/VQfWsDQ1Rh
— DappRadar (@DappRadar) December 14, 2021
Developers position RADAR as a utility token and as a governance token for the project’s ecosystem. Users can submit proposals for service improvements and vote on them, act as liquidity providers, and pay for services on DappRadar.
Community members holding 5,000 RADAR or more, and liquidity providers of the ETH-RADAR pool on SushiSwap, will gain access to the premium service DappRadar PRO.
Tokens can be claimed by:
- Users with a DappRadar account and a connected wallet who have interacted with at least one Ethereum dapp in the last six months. The dapp must be listed on the portal. These addresses will receive 8,697 RADAR;
- Any users who have interacted with at least one Ethereum dapp in the last six months and with at least 10 applications over the wallet’s lifetime. All applications must also be listed on the portal. These addresses will receive 5,798 RADAR.
This is a retrospective airdrop. The team noted that it aims to reward community members who had actively used the platform long before any token announcements.
The Ethereum network snapshot was taken on October 19, 2021.
To receive the tokens, users must pay a blockchain transaction fee. The reward on the airdrop page must be claimed by March 14, 2022.
The total supply of RADAR stood at 10 billion. Just over 25% of the tokens were allocated to project team members and insiders, 24.75% went to the treasury, 10% were allocated to the initial airdrop, and the remaining 40% would be distributed to the community later.
According to CoinGecko, since launch the price of RADAR has risen by about 15%. At the time of writing, the token trades near $0.04.
DappRadar tracks around 10,000 dapps across more than 25 blockchains, including Ethereum and Solana. The company says its service is used by around 1 million people each month.
In November, the Ethereum Name Service announced a move to decentralized governance and released a governance token.
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