The move extends the company’s reach into web3
Decentralized exchange Sushi has integrated GameStop’s new web3 wallet into its platform. People can swap tokens, store their crypto and NFTs using the new crypto wallet. Users can already trade and stake their RADAR tokens on Sushi. Soon, DappRadar will introduce cross-chain staking unlocking more rewards for everyone.
Summary
- Sushi has incorporated GameStop’s new crypto wallet onto its platform. Users can now use it to swap cryptocurrencies and NFTs.
- Users can also trade and stake DappRadar’s RADAR token on Sushi.
- DappRadar will soon introduce cross-chain staking which allows stakers to receive benefits in tokens from one blockchain, even if they stake tokens from a different blockchain.
Sushi incorporating GameStop onto its platform
The chefs over at Sushi have integrated the GameStop NFT wallet so that people can use it to trade tokens on the platform. The wallet is built for the Ethereum blockchain.
Sushi is a decentralized exchange (dex) that allows for peer-to-peer token swapping without an intermediary, such as a bank and a centralized lending platform. Dexes are one of the pillars of DeFi as they allow for people to engage with people, instead of one entity holding all the power.
DappRadar reported back in December 2021 that GameStop was looking for NFT creators for its new marketplace. When GameStop NFT trading platform launches, it will be entering a market that is already very competitive.
Looking at DappRadar’s latest Industry Report, we can see that OpenSea, the sector’s platform for NFT trades, appears to be losing its position as the dominant force.
During the first four months of 2022, 90% of NFT trading went through OpenSea. Now, it accounts for 84% of the NFTs that are bought and sold on secondary marketplaces.
It’s still a huge share of the industry but we can see that the likes of LooksRare, Magic Eden and X2Y2 are starting to slice off their own portion of the pie.
But with the launch of its web3 wallet, it seems that the company is making headway into more areas of the blockchain, crypto and NFT space.
Earn RADAR and profits on Sushi
DappRadar’s RADAR token is also available to stake and swap on Sushi. Both of these features can result in potential rewards for users.
Users can stake RADAR tokens on the dex and earn RADAR tokens from the rewards pool in return. We have a guide to staking which explains how people can earn tokens and covers the potential risks involved.
Another way to earn rewards with RADAR and Sushi is by trading tokens for a profit. As things stand, and in line with the majority of other cryptocurrencies, the RADAR token is currently going through a dip in price.
Buying RADAR at the current level and holding onto it could be a good move for the future, if price levels increase.
You can learn more about how to add liquidity and stake RADAR by reading our guide.
Cross-chain staking with DappRadar
You can already earn RADAR tokens by staking RADAR tokens. Now we’re introducing cross-chain staking rewards.
This means users can earn rewards in the currency of one blockchain, even if they stake currency from a different blockchain.
Cross-chain staking with DappRadar will be dropping soon. Our CEO Skirmantas Januškas discussed the groundbreaking new feature at DappRadar’s most recent Community Call.
When the cross-chain staking is up and running, users can easily access it through our staking page. In the meantime, you can go to the staking page and immediately stake RADAR for ETH.
What are crypto wallets?
Crypto wallets are a way to securely and privately store your web3 assets. These might be cryptocurrencies or it could be NFTs.
Think of it as your private key. When you turn it, it opens the door into your own little area of the blockchain(s). You can also use your crypto wallet to send and receive cryptocurrency and NFTs.
They come in a couple of different forms. You can have a hardware wallet which you can completely disconnect from the internet. This is good for security but can make moving your assets slightly more difficult.
You can also have a software wallet, like Coinbase Wallet or MetaMask. These are always connected to the internet and so are more vulnerable to hacks. But it represents a simple way to swap, send and receive assets more easily.
GameStop’s new wallet is the latter type. You can download it from the Google Chrome Store and then make blockchain transactions with it.
DappRadar has a useful guide to the best cryptocurrency wallets of 2022. We outline the purpose of wallets and what you can use them for. We also detail which ones are the best ones to use at the moment, and why.
