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Usha Yadav
Jul 2, 2022
by Usha Yadav

DappRadar and LayerZero Launch Chain-Agnostic Staking Token RADAR

RADAR

Table of contents

  1. Launched RADAR Token
DappRadar introduced RADAR Cross-Chain Token Staking to enable customers to claim stake rewards regardless of the chain on which their RADAR stakes. When RADAR officially starts on a chain, staking will be allowed, and APR will be the same across all chains, eliminating the need to bridge assets or pay gas fees to participate.

 

Launched RADAR Token

According to DappRadar, a collection of smart contracts offer the functionality for the recently launched RADAR token. The controller contract is one of the two contracts, while the proxy contract is the other. The new staking mechanism is made possible by the cooperation of the two smart contracts. The smart proxy contract receives requests to withdraw money or claim prizes. It interacts with the controller contract to ascertain whether the request is legitimate. The controller notifies the proxy to release the tokens if the request is legitimate. This kind of cross-chain staking, according to DappRadar, was previously unavailable everywhere.

DappRadar also gave users access to documentation that explained how to use this new feature. Users can "stake [their] RADAR tokens on the Ethereum blockchain and subsequently get the prizes on BNB Chain," according to the instructions. A portal for exploring decentralized applications, according to DappRadar. The token will aid the business in expanding its coverage, pursuing quicker listings for future initiatives, providing more accurate listings of current projects, and providing better portfolio features, according to the RADAR summary.

In December 2021, DappRadar and LayerZero first made their RADAR cryptocurrency public. The crypto market situation has drastically transformed seven months later, with June rounding off the worst quarter in eleven years. Other tokens have reached new heights of up to 300 percent despite the bear market.

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DappRadar LayerZero Staking Token Cross-Chain Token RADAR Token Chain-Agnostic Staking Token RADAR
DappRadar and LayerZero Launch Chain-Agnostic Staking Token RADAR
Usha Yadav
Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.

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