[DCP-11] Evolving DappRadar PRO 2.0 and Staking: A Proposal for a Healthier Token Economy

Summary

As DappRadar progresses, it’s time to implement a trailblazing membership system through staking and update the requirements for obtaining PRO, to better reflect the value provided by the service. This proposal seeks to get an approval for the essential allocation of 180M RADAR tokens for a Staking program that enables the PRO 2.0 Membership. This initiative represents one of the initial steps in steering RADAR tokenomics towards the desired direction, built upon months of careful planning and research.

Motivation

The goal is to establish DappRadar PRO as a membership that offers users more benefits and features across the ecosystem while keeping RADAR at the forefront. By reducing the token distribution (compared to the existing RADAR staking program) and refining our target audience, we aim to create a healthier tokenomics model for the RADAR token and align incentives with the participants of the ecosystem.

Abstract

PRO’s Evolution
PRO was initially launched in 2021 alongside the RADAR token, serving as a supplementary product designed to incentivize RADAR holders to engage with DappRadar and its ecosystem. Over the past 17 months, PRO has continually evolved, enhancing the value provided to its users. This growth is not expected to slow down; in fact, we aim to make PRO a central component of DappRadar. However, despite considerable resources being allocated to develop new features for PRO users, exclusive content, and the overall evolution of PRO, the current pricing model has not been beneficial for the ecosystem. Users were only required to hold a minimum of 5,000 RADAR tokens in their wallets to access all PRO features, but this pricing structure did not contribute to the development and expansion of PRO. With the high APR, it was also difficult to gauge whether users were staking their RADAR to access PRO features or simply for the economic gain by farming staking rewards. As a result, an updated pricing framework (through staking) will be introduced with the forthcoming launch of PRO 2.0 and Staking, better aligning the value provided by the service with the price paid by users.

Introducing PRO 2.0
PRO 2.0 is being introduced as the product evolves and matures, offering an upgraded experience akin to Spotify Premium or Amazon Prime. While users can still access the basic services for free, staking in PRO 2.0 will provide enhanced benefits, features, and RADAR rewards. This development is particularly exciting as DappRadar has been consistently attracting millions of users, providing valuable data and content for the past five years. Our goal is to continue delivering exceptional products and services while offering advanced users the opportunity to access more personalized experiences tailored to their needs. As PRO continues to offer increasing value, we anticipate a growing demand for RADAR tokens and more staking activity. The token model we’ve developed aims to strike a balance between increased demand and limited supply, ultimately reducing the circulating supply through more tokens being locked in staking.

The required number of tokens to access PRO will be set at 30,000 RADAR tokens. This value is derived from our token model, taking into account data from the existing PRO product, RADAR staking, the overall RADAR ecosystem, as well as upcoming token unlocks and future plans. It is important to note that several assumptions have been made in this process, and we will closely monitor the effectiveness of this pricing model. If necessary, adjustments will be made in consultation with DAO members, ensuring a suitable and accessible experience for all users.

Membership Approach and 30-Day Cooldown for Staking
The new staking system introduces a 30-day cooldown period, emulating a membership model similar to traditional monthly subscriptions. This approach aims to provide a familiar experience for users. Additionally, the cooldown period helps prevent potential abuse of PRO services by malicious actors who may stake RADAR tokens temporarily, extract content or utilize advanced features, and then immediately sell the tokens on the market. With the 30-day cooldown, when users decide to unstake their tokens, they will initiate a cooldown period, and at the end of this period, the tokens will return to their wallet. This concept can be compared to subscribing to Spotify Premium for a month and receiving a refund at the end of the subscription. Quite an appealing proposition, isn’t it?

Shifting the Audience
Currently, a significant number of RADAR cross-chain staking participants are primarily focused on earning rewards and farming tokens, with little interest in DappRadar’s product or vision. This update aims to address that issue by aligning incentives and risks to attract users genuinely interested in utilizing our products and contributing to DappRadar’s future beyond merely farming and selling tokens. While there may be a short-term decline in PRO users following this change, we believe that, in the long run, it will cultivate a more valuable community with a shared vision and values.

Tokenomics Impact & DAO
This decision is grounded in a tokenomics model that we have developed over the past six months, which considers the impact of all key stakeholders in the ecosystem (Users, Dapp Developers, Contributors, Team, and Partners) on the token economy. The objective is to establish a stable balance between demand and supply, fostering a healthy market for the RADAR token centered around the product. According to our tokenomics model, the ideal long-term APR for RADAR staking is approximately 3%. We propose initiating this new program with a 20% APR to facilitate a smooth transition for current stakers, then gradually reducing the APR over time to reach a stable 3%. This adjustment will help maintain equilibrium within the economy and sustain market dynamics.

To support the upcoming changes for PRO 2.0 and the new Staking program, the DAO must allocate 180 million tokens for distribution over the next two years. As mentioned, the APR will be set at 20% at the beginning and gradually decrease to 3%, in accordance with the chart provided in this proposal.

The new staking contracts have been built with a DAO-first approach, allowing variables like APR, minimum staked amount or cooldown to be decided by the DAO in the future.

The parameters will be reviewed in collaboration with the DAO on a quarterly basis. Based on the results, adjustments will be made as needed to ensure that we consistently respond to market demands and product development, maintaining an adaptable and effective approach.

Token allocation: 180M RADAR for 2 years (Estimation)

Default parameters

  • Minimum staked tokens to get DappRadar PRO: 30,000 RADAR
  • 30 days unstaking cooldown
  • APR: Start at 20% and gradually decrease to 3% to achieve a sustainable demand/supply ratio

Benefits

  • PRO’s continuous evolution, becoming a key component of both DappRadar and the RADAR token ecosystem
  • Audience shift from speculators and farmers to users genuinely interested in the value provided by PRO membership
  • Decreasing the number of tokens released into circulation, aiming for a balanced demand-supply ratio and a healthy market
  • Progress toward a robust tokenomics model centered on stakeholders who use the product, contribute to its development, and actively participate in shaping the DAO’s future

Drawbacks

  • Significant allocation of tokens for this program, potentially diverting resources from other initiatives
  • Increased requirements for obtaining PRO membership, possibly leading to a short-term decline in PRO members as the audience shifts toward users more focused on the product than high APR

Vote

  • Agree on the changes made to DappRadar PRO, the default parameters and and the allocation of RADAR
  • Disagree on the changes made to the DappRadar PRO, the default parameters and the allocation of RADAR

0 voters

9 Likes

There is an on-going proposal for rewarding the existing PRO members for their commitment and trust in DappRadar since the beginning. A badge of honor that comes with free access to the PRO features for the next months. See the proposal here: [DCP-10] Retroactive NFT Membership for existing PRO users

7 Likes

Happy with everything said here.

Was worried about pro 2.0 but 30,000 radar is fair with what i imagine is coming in the future and also isnt what i imagined it would be.

Thank you for the update weight lifted off my shoulders =)

5 Likes

Definitely agree with the statement that new updates of DappRadar 2.0 & Staking will help us to attract users genuinely interested in utilizing our products and contributing to DappRadar’s future beyond merely farming and selling tokens. Looking forward to this :slight_smile:

5 Likes

I truly believe that this new era of PRO and staking will help us a lot for a sustainable token economy in any market condition. It supports the way towards becoming a successful DAO as well. I am quite sure that new PRO features will bring more PRO members in long term so I don’t see any drawback here. LFG! :metal:

5 Likes

I like this proposal, it seems fair and healthy for both the users and the economy of DappRadar. Good job team! Nice proposal!

2 Likes

The DappRadar it’s a good way for any cryptocurrency trader to use and find everything immediately on the site or app I like how you guys make it so easy thank you

1 Like

After reading this I went and topped up 30k tokens :slight_smile: I would really love to see ‘Unclaimed Airdrops’ as a Pro 2.0 feature, allowing PRO users to know if they received an airdrop. Earni.fi is charging people $40 usd per month which is like $70 in my currency for this service. I believe Zerion is also adding this feature. Correct me if I’m wrong but currently RADAR only lists airdrops that are ‘up and coming’ but doesn’t scan for unclaimed airdrops? Great proposal team!

1 Like

30,000 RADAR to get DappRadar PRO is expensive
These are potential benefits and may not necessarily be realized.
I think we should dig deeper into the potential value of pro membership instead of raising the staking threshold to lower ARP

Pro members should enjoy more valuable content than staking APR returns, have a reasonable monthly membership fee if you want to decrease the number of tokens released, all users use tokens for membership payments, tokens are burned proportionally, discover more Alpha for people to discover the value of PRO membership through the PRO membership feature, etc.

there are no plans for token burns.

1 Like

The future of DappRadar is much bigger than we thought. Thanks to the Team for putting this together and Thanks to the Community for their support also. The changes here are amazing tho I do not fully support the 30 day cooldown period, I feel there is something off about it.

1 Like

try the 30 days out to start with if needs be in future we can vote to lower it but id suggest lowest we ever do go is 2 week/ 14 days (same as trons staking). a month does feel alot tho. doesn’t bother me that much i am not in any rush to sell and im happy holding for pro and 20% apy is good in my eyes knowing this is a legit thing.

1 Like

Apart from the change in the mechanics of the PRO 2.0 membership, we have to talk about the immense uplift in utility for the PRO members. Just looking at the mockups that @dragos posted, it’s clear to see it’s growing into providing real, tangible benefits for PRO members. Just thinking what dapps could achieve with the dapp boosting power, or csv exports, premium content, custom alerts! These are all providing added value to users and I think that’s the gist of the shift of the PRO program: it doesn’t cost anything, except locking some RADAR, but provides enough utility to make it worth it.

3 Likes

Snapshot vote results

:ballot_box_with_check: Vote passed
You can see all the vote details of the proposal on the Snapshot page.

FOR: 49M RADAR
AGAINST: 118k RADAR

Total voters: 116

PRO 2.0 and Staking next steps

We will now set up the remaining details for the new product to go live, execute the necessary transfers for the Staking rewards and continue working on the deployment of the product. This is a big step towards a better RADAR tokenomics and a better DappRadar product offering.

There are massive changes upcoming and we will continue to keep the community involved in this process and making sure we’re taking the right path towards success. Many thanks to everyone that participated in this proposal.

In the following hours, we’ll start sharing concrete details about the timeline and product changes. Keep an eye on our channels (Discord, Telegram, Twitter, etc.)

4 Likes

The new Pro looks nice, but I feel could still use more features to actually make it more enticing.

For NFTs :

More supported collections, a lot of collections on my financial view are missing floors, some other are missing amount spent, others are missing both. It would be neat if all these cases were looked into and to create a completely exhaustive code that fetches data from every possible type of NFT (ERC-1155, ERC-720, ERC-721, etc…)

For crypto :

  1. Multiple wallets management : Being able to manage multiple wallets and track their holdings would be useful.

  2. Free opportunities : The common denominator in crypto are probably airdrop farmers. There are many other platforms that help users find these opportunities, either partnerships with them, or following their same models, and/or aggregate their data, would maybe make dappradar the #1 platform for this information.

  3. Investment opportunities : Besides people looking to farm tokens, there’s also many others looking to buy tokens to increase their wealth. It’s true that there’s a lot of “alpha” channels everywhere, so a possibility to differentiate dappradar from the crowd could be to just try and have partnerships with multiple alpha callers, and see if we could garner an in-house community of alpha callers that have good followerbase, and a good success rate, gatekept for the Pro community.

  4. More partnerships : On that same note, partnerships and marketing need to increase. If DappRadar reaches a high amount of followers, DappRadar could then incubate and promote projects, giving them exposure, and garnering exposure for DappRadar too. This requires a bit of an investment early on, but as the projects we partner with, and promote, become bigger, it’s easier and brings in ROI for DappRadar in the future, as other potentially successful projects come to us for promotion and exposure.

5 Likes

pretty sure u can track wallets on the dappradar portfolio i followed a few wallets on there.

The number 1 on the list image
you can follow other wallets if you click on the wallet address at side of portfolio


comes up with that dont know if you ment that or if you ment tracking multi wallets that you own like on metamask where u can have multiple wallet accounts.