The leading global decentralized applications (dApps) store DappRadar has announced an industry-first, cross-chain token staking mechanism that allows users to claim their staking rewards on any blockchain and significantly minimize the associated fees.
DappRadar Introduces Cross-Chain Staking
The newly unveiled cross-chain token staking mechanism by DappRadar is an open-source innovation that aims to contribute to the whole ecosystem. The mechanism is aimed at removing barriers for cost-sensitive users to participate in the token staking economy by eliminating high fees which, in turn, democratizes financial inclusion.
Notably, users will earn the same APR for their staked digital assets across all blockchains. This way, the mechanism eliminates the need to bridge assets themselves or pay the typical high Ethereum gas fees.
For the uninitiated, DappRadar tracks and analyses all kinds of dApps and believes that the future of the blockchain industry will be multichain, cross-chain and interoperable. In a bid to ensure the DappRadar community has the most comprehensive choice possible, cross-chain staking will be enabled for every blockchain RADAR launches on. In simple words, it means it won’t be limited to only EVM-compatible chains. Further, the mechanism is expected to offer a smooth user experience on all blockchains.
Commenting, 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.”
It is worth noting that DappRadar’s cross-chain token staking platform is being developed in partnership with LayerZero protocol, which allows smart contracts to communicate across different chains.
RADAR Token Continues to Earn Utilities
DappRadar’s native RADAR token was launched on the Ethereum blockchain and listed on major crypto exchanges such as Crypto.com and Huobi Global.
DappRadar’s flagship “Contribute2Earn” approach allows community members to earn RADAR tokens by contributing to the DappRadar ecosystem. Notably, 5000 RADAR token holders gain access to DappRadar PRO features, offering seamless access to exclusive analytics, features, content, and reports.
Holding even just one RADAR token allows a community member to participate in governance to chart the future curse of DappRadar.
RADAR Cross-Chain Token Staking will be available on any chain RADAR launches on to enable users to stake their RADAR tokens on one chain and claim their rewards on any other chain.
Source: https://crypto.news/dappradar-cross-chain-staking-platform-layezero/