📄DappRadar DAO Report (March 2024)
In the evolving landscape of blockchain and decentralized technologies, DappRadar stands at the forefront as the World's Dapp Store. Our goal is to evolve into a fully decentralized platform, facilitating and benefiting from community contributions, thereby reshaping the global interaction with decentralized applications.
In alignment with this vision, DappRadar has embarked on a journey towards becoming a decentralized autonomous organization (DAO). This strategic move is not merely a transition, but also a testament to our belief in the power of community-driven governance and the potential it holds to democratize decision-making processes, ensuring that the platform evolves in a manner that truly reflects the needs and aspirations of its users.
This report examines the DappRadar DAO's performance since its inception, offering transparency into our progress, challenges, and the impact of this shift on our platform and its users. Through this exploration, we aim to highlight the significance of our move towards a more democratic and inclusive future in the decentralized world.
Key Takeaways
On 14 December 2021, DappRadar DAO and the RADAR token were launched.
By the end of 2021, DappRadar established two pivotal legal entities: the DappRadar Foundation in the Cayman Islands and DappRadar Labs Limited in the British Virgin Islands, creating a comprehensive legal framework to support the decentralized operations of the DappRadar DAO.
RADAR's price dynamics have closely followed market trends, peaking at $0.050081 in December 2021 and hitting a low of $0.004432 by June 2022, reflecting broader market fluctuations. Despite a 30% increase in circulating supply in 2023, RADAR's market capitalization has remained stable, with 10.6% of its total supply in circulation by year-end.
By the end of 2023, RADAR tokens constituted 97.9% of the DAO's holdings.
In April 2023, the DAO expanded its role within the Ronin network as node, bridge, and governing validator, diversifying its blockchain asset holdings to include $63.4M on Ethereum, $800K on Ronin, $550K on BNB Chain, and $200K on Polygon.
DappRadar currently supports 59 blockchain ecosystems and tracks well over 15,000 unique decentralized applications, or dapps. While we have created 45 quests, of which 34 have been completed at the time of writing by thousands of users.
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