DappRadar And LayerZero Launch Chain-Agnostic Staking RADAR Token

To enable clients to obtain stake benefits regardless of the chain on which their RADAR stakes, DappRadar introduces RADAR Cross-Chain Token Staking.

The requirement to bridge assets or pay gas fees in order to participate will vanish once RADAR is formally launched on a chain and staking is permitted. Moreover, APR will be the same for all chains.

DappRadar introduced RADAR Token

DappRadar claims that a group of smart contracts provide the functionality for the recently introduced RADAR token. One of the two contracts is the controller contract, and the other is the proxy contract. The two smart contracts’ collaboration allowed for the creation of the new staking system.

Requests to withdraw money or collect prizes are sent to the smart proxy contract. To determine whether the request is valid, it interacts with the controller contract. If the request is valid, the controller alerts the proxy to release the tokens. DappRadar claims that this form of cross-chain staking was previously not available anywhere.

Users have access to documentation from DappRadar that described how to use this new capability. The instructions state that users can “stake [their] RADAR tokens on the Ethereum blockchain and afterwards win the prizes on BNB Chain.” According to DappRadar, a service for investigating decentralized applications. According to the RADAR description, the token will help the company broaden its coverage, pursue quicker listings for future efforts, provide more accurate listings of current projects, and provide improved portfolio features.

DappRadar and LayerZero initially made their RADAR cryptocurrency widely available in December 2021. Seven months later, the cryptocurrency market position has radically changed, with June capping off the worst quarter in eleven years. Despite the bear, other tokens have climbed to new heights of up to 300%.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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