DappRadar’s cross-chain token staking is now live, for the first time in the industry allowing users to stake and claim rewards on any chain, regardless of where they stake their Radar tokens.
DappRadar is making it easy for investors to earn staking rewards on any blockchain with support for native Radar tokens.
It is after Dapp Store and dApps data tracking platform launch of its cross-chain staking solution on Thursday. According to the DappRadar team, RADAR holders can now stake their tokens on one blockchain and claim rewards or withdraw their staked tokens on another chain.
We have just launched an industry-first cross-chain token staking mechanism, allowing users to claim their staking rewards on any blockchain and greatly reduce the fees associated with staking. woohoo pic.twitter.com/pnypWrc1RN
— DappRadar (@DappRadar) 30 June 2022
interoperability
The launch of a cross-chain token staking solution includes LayerZero, an interoperability protocol that allows cross-chain smart contract communication.
The protocol enables it to be both EVM-compatible and non-EVM compatible on-chain, meaning users will not be limited to those blockchains compatible with the Ethereum Virtual Machine only.
The platform said in a blog post that cross-chain staking support will be available on whichever chain Radar will launch. Simply put, this means that Radar stakeholders do not need a bridge to access their staked tokens.
Also beneficial to the radar staking community is that the APR will be the same across all supported blockchains. No bridging also means that users will not have to pay the associated high gas charges.
Skirmantas Januskas, CEO and co-founder of DappRadar, has a . mentioned in a statement shared via Press releasethat the platform’s product was built with users in mind,”particularly sensitive to margin“The ones in the mind.
He added that the innovation is now available for use elsewhere in the blockchain industry, adding that the community can achieve greater growth and adoption if they “build together,
DappRadar hosts and tracks over 10,000 dApps across over 45 blockchains and protocols, including data and insights on DeFi, NFT and gaming.