DappRadar, a startup that provides data for the analysis of Dapps, has announced the introduction of its own token called RADAR.

The Lithuania-based company says the token will help it decentralize its business in the future. At the same time, they are also repositioning a full Dapp store, similar to a centralized app store, but for Dapps.

DappRadar was founded in 2018 by Skirmantas Januškas and provides data for Dapps such as trading activity, token volume and active users. The platform currently supports over 8,000 Dapps on over 25 blockchains, including Ethereum and Solana, as part of the Dapp Store. It plans to support more blockchain networks.

In addition to data analysis, DappRadar also offers users a portfolio management tool that they can use to track the performance of their holdings. The platform claims to have 4 million users annually.

Store Dapp is beneficial for both users and developers. DappRadar said:

“Dapp stores are centralized, hosted and managed, gatekeepers demand a commission of up to 30% of sales.”

“One of our Dapp stores does not normally charge a commission for referring users. These different cost structures (30% vs. 0%) are fundamental changes in the way dapps are marketed and delivered by developers to users. ”

The plan to launch the token comes months after DappRadar raised $ 5 million in a Series A funding round from Prosus Ventures, Blockchain.com Ventures and Naspers Ventures, among others. In 2019, DappRadar raised $ 2.3 million in a seed funding round.

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