Staking is a crucial way for cryptocurrency holders to generate passive income. The process is straightforward but a bit of a hassle when keeping funds across different networks. DappRadar is the first to introduce cross-chain staking with minimal fees.
Evolving The Nature of Staking
The traditional approach to crypto staking involves keeping assets in an internet-connected wallet for longer periods. The longer a user stakes, the better their rewards become. It is a concept that has been around for nearly a decade and has remained a bit cumbersome when dealing with crypto assets on different blockchains. Running multiple wallets and maintaining them is a hassle, and a better solution needs to be found.
DappRadar is launching cross-chain tokens taking to make things more accessible. Not only does it help users claim rewards from multiple blockchains, but it also brings down the overall fees. As a result, DappRadar can catalyze financial inclusion and ensure users earn the same APR for their staked assets across all blockchains.
DappRadar CEO and co-founder Skirmantas Januskas adds:
“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.”
DappRadar made a name for itself by analyzing various decentralized applications. The team is committed to a multi-chain future with a high degree of interoperability. The cross-chain staking approach applies to any blockchain supporting the native $RADAR token, enabling the approach to go beyond EVM-compatible networks. All of this is made possible through the LayerZero protocol, which enables cross-network smart contract communication.
More Utility For $RADAR
The native $RADAR token plays a key role in the DappRadar ecosystem. It is a utility token that can be earned by contributing to DappRadar’s ecosystem. Moreover, holders of 5,000 RADAR can access PRO features, including exclusive analytics, content, and reports. However, it only takes 1 RADAR to participate in governance.
The token is currently available on the Ethereum and BNB Chain networks but will come to other blockchains soon. The next network to support $RADAR will be Polygon. Users can trade DappRadar’s token on major cryptocurrency exchanges, including Huobi Global and Crypto.com.
Was this writing helpful?
Source: https://coinpedia.org/news/dappradar-successfully-launches-cross-chain-staking-with-minimal-fees/