DappRadar Rankings Explained

dappradar rankings explained
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Discover dapps and dive into on-chain metrics

Ordering the world’s blockchain data is our mission at DappRadar. The first product we introduced to the world was our Rankings page, where we track different decentralized applications according to on-chain metrics. We sort these dapps based on Balance, Unique Active Wallets and Volume, and present the information over three different time periods.

Contents

Before search engines cataloged the internet, users needed to know specific URLs to find specific web pages. Similarly, before DappRadar, comparing dapps and finding the best ones on the market was an impossible task.

DappRadar is now the World’s Dapp Store and we help our users explore and research the Web3 space to find the platforms they’re looking for.

Category

The Web3 space contains many different sub-sectors and types of dapps that cater to various  interests. Here at DappRadar, we track dapps across all these areas and break  them down into Categories. These are:

All Categories

This is our full and comprehensive list of every dapp we track. We pull information from dapps across more than 50 blockchains, and put them in order. This means our community can make informed decisions about the whole of the Web3 market.

Games

Gaming is one of the fast-growing and most important sectors of the Web3 industry. We track data from nearly 2,000 blockchain games so that users can find the best ones to play.

DeFi

DeFi is short for decentralized finance. Our DeFi Rankings list automated market makers, staking platforms, cross-platform swap sites, crypto payment tools and more. Users interested in making money can find all the best dapps here.

Gambling

We list dapps where users can gamble across multiple markets via blockchain technology.

Exchanges

These are Web3 platforms where users can access liquidity and swap one type of cryptocurrency for another one. We list Exchanges built for single blockchains, and Exchanges that work across multiple blockchains.

Collectibles

These dapps are dedicated to digital assets as non-fungible tokens (NFTs). These Rankings present data about users connecting and interacting directly with the dapp of the Collectible project. To see metrics about NFT trading, go to our NFTs Overview page.

Marketplaces

Our Marketplaces tab shows on-chain information relating to secondary marketplaces for NFTs. Users can purchase digital artworks, in-game assets, fashion collectibles and more.

Social

These are dapps dedicated to social activities. Virtual worlds, where people can meet and interact, are listed here. We also show exercise dapps, community-building dapps, social media dapps and photo-sharing dapps.

Other

Other dapps are the ones that are doing something slightly different in the Web3 space. In most cases, they are dapps that can fit across multiple categories. And sometimes, dapp developers have not correctly categorized their dapps.

High Risk

High Risk dapps offer huge rewards but have big potential downsides. We have bucketed these as High Risk so that our users treat them with caution.

Balance

Balance refers to the total assets in a dapp’s smart contract. We measure the amount of cryptocurrency a dapp holds, and then represent this in dollar value. 

The list below shows the top five dapps in our Rankings in terms of their Balance. Unsurprisingly, four of them relate to finance. Three are linked directly to DeFi, while the other one is an Exchange, which needs to hold liquid assets so people can trade cryptocurrencies.

DappRadar Rankings sorted on Balance

The dapp with the highest Balance is the ETH2 Deposit Contract. This is no surprise, as this is the dapp where stakers put their ETH in the run up to the Merge.

There has been no confirmed date for when the Ethereum Foundation will release this secured cryptocurrency. But for anyone who is holding their ETH in this smart contract, rest assured that it’s safe.

Unique Active Wallets

Unique Active Wallets is a measure of the number of individual Web3 wallets that have connected to a dapp over a given period of time. Often shortened to UAW, people sometimes confuse this metric with a user count.

UAW differs from a regular user count because one person can have multiple wallets which they use to connect with a dapp. For example, if 20 people have 60 wallets between them, and they all connect to the same dapp with their wallets, the UAW will be 60 but the actual user count is 20.

One more thing to consider when looking at the UAW column: some dapps hold some of their data off-chain. For example, users interacting with the virtual world Decetraland don’t always connect to the dapp’s smart contracts. They log into the website but make no connection to the blockchain. DappRadar tracks blockchain data only, so this is why user numbers differ from the UAW number.

When we look at our Rankings sorted by UAW, we can see that 597,090 unique wallets connected to the decentralized exchange PancakeSwap over the past seven days. This puts the dapp at the top of our Rankings for the week.

Three games – Gameta, Alien Worlds and Splinterlands – are also in the top five. This shows the popularity of gaming in the Web3 space. In our recent Q3 BGA Games Report, we wrote that Gaming is currently the ‘driving force for the dapp industry.’

DappRadar Rankings sorted on UAW

Volume

This metric shows the amount of cryptocurrency, measured in dollar-value, that passes through a dapp’s smart contract. Unsurprisingly, Exchanges and DeFi platforms top our Rankings when we sort on Volume. This is because users go to these sites to swap and stake their cryptocurrency.

All of the cryptocurrency people put into these platforms, whether through staking or swapping, is counted as passing through the dapp’s smart contracts. DappRadar takes that data and presents it in the Volume column.

DappRadar Rankings sorted on Volume

Activity

The final column in our Rankings pages is Activity. It’s a trendline for the metric that you’re exploring. If you’ve sorted on UAW over seven days, the line will show you how UAW has gone up and down during that time frame.

This visualization tool is especially useful when you’re checking a dapp’s Balance. We present Balance as a single, discrete figure that is only correct in the present moment. Unlike UAW and Volume, you cannot aggregate Balance over a specified time period.

It can be helpful to look at Balance over a time frame though, to see how it has performed. By checking the Activity column, you can see whether a Balance has gone up, gone down, or remained stable.

Carry your Web3 journey with you

With the DappRadar mobile app, never miss out on Web3 again. See the performance of the most popular dapps, and keep an eye on the NFTs in your portfolio. Your account on DappRadar syncs with our mobile app, giving you soon the option to receive alerts live as they happen.

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