Yield farming extension in hands of RADAR token holders
Less than a month after the launch of the RADAR token, the DappRadar community now has to put their tokens to work and vote on a 3-month extension to farming rewards on SushiSwap.
RADAR gives token holders influence in the development of DappRadar and the road ahead for the RADAR token and the wider community. They can discuss topics on Discord, formulate a proposal on the Forum and when approved, let the entire RADAR community vote. We call such a proposal a DappRadar Community Proposal, or DCP. DCP-1 (as we call it round these parts) received a majority of votes in favor of extending the farming rewards. Meaning the proposal has enough traction to let the community vote on its future using their RADAR tokens.
In order for DCP-1 to be accepted, the community needs to vote with a total voting power of at least 10 million RADAR. Voting will remain open until January 14th, 9PM UTC..
Voting will happen here. You will need RADAR to vote or SushiSwap SLP tokens from the RADAR-ETH pool. Staked SLP tokens can’t be used to vote at the moment, as this feature will be introduced for the next vote.
The DappRadar community can find RADAR on exchanges like Crypto.com, Huobi, Uniswap and SushiSwap. Of course everybody can also use DappRadar’s token swap functionality.
RADAR and governance explained
DappRadar attracts 1 million users per month and lets them discover 9000 different dapps across 30+ blockchain protocols. Unlike traditional app stores, DappRadar lets users discover decentralized applications, or simply dapps, based on verifiable data. Which dapp has seen lots of trading activity? Or which one has seen lots of user growth? DappRadar allows users to make well-informed decisions.
With the introduction of RADAR, community members will get a say in the future of The World’s Dapp Store. They get to discuss features, formulate proposals and vote on decisions impacting the road ahead towards mass adoption of dapps and blockchain technology.
RADAR is the governance and utility token for the DappRadar ecosystem. The token gives holders influence on the future of the DappRadar platform through Governance, token staking options, and early access to content and exclusive features through DappRadar PRO.
You have probably read our guide to RADAR governance in the DappRadar ecosystem already, as it’s important to know how to use the native token. Holding 100,000 RADAR gives community members the right to submit a proposal, and everybody holding RADAR can then vote whether it’s a good idea or not.