DappRadar launches cross-chain token staking

Rick Steves

The launch of the cross-chain token staking mechanism by DappRadar comes under a partnership with LayerZero protocol, which enables smart contracts to communicate across different chains.

DappRadar has launched a cross-chain token staking mechanism, allowing users to claim their staking rewards on any blockchain and minimize the fees related to staking drastically.

The renowned dapp store tracks and analyzes all kinds of decentralized applications and its team believes the future of the blockchain industry will be multichain, cross-chain and interoperable.

By launching a cross-chain token staking mechanism, DappRadar ensures its community won’t be limited to only EVM-compatible chains. Instead, cross-chain staking will be enabled for every blockchain RADAR launches on. The mechanism will also ensure a smooth user experience on all chains.

DappRadar’s cross-chain token staking eliminates high fees

DappRadar’s cross-chain token staking aims to remove barriers for cost-conscious users to participate in staking by eliminating high fees. The mechanism will ensure users will earn the same APR for their staked assets across all blockchains. This means they won’t have to bridge assets themselves or pay high Ethereum gas fees.

Skirmantas Januskas, CEO and co-founder at DappRadar, 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.”

The launch of the cross-chain token staking mechanism by DappRadar comes under a partnership with LayerZero protocol, which enables smart contracts to communicate across different chains.

DappRadar was founded in 2018 and allows more than 1 million users per month to track, analyze, and discover dapp activity via its online platform.

The platform currently hosts more than 10,000 dapps from across over 30 protocols and offers a number of tools for users, including NFT valuation, portfolio management, and daily insight.

DappRadar report says gaming defies crypto winter

A recent DappRadar report found that the blockchain gaming space is defying the crypto winter trend. The document further notes that macro indicators for games signal a bullish scenario for the blockchain gaming ecosystem, as game dApps now account for an impressive 52 percent of the total dApp industry activity.

That was alongside the fresh $1.4 billion pumped into Web3 games and related metaverse infrastructure in May alone. The other noticeable investment was the $725 million raised by Dapper Labs to expand further the Flow ecosystem.

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