[DCP-2] Use unclaimed Airdrop tokens to extend the RADAR ecosystem

VOTING IS NOW LIVE ON SNAPSHOT

Summary: The RADAR token was launched on 14 December 2021 and 10% of the total supply was allocated to the retrospective Airdrop targeted towards active dapp users. Now that the claiming period of the airdrop has come to an end, we are aiming to use the remaining tokens for extending the RADAR ecosystem by focusing on three major topics:

  1. single token staking
  2. liquidity rewards and provisions
  3. multichain expansion

Abstract: There were ~148,000 eligible addresses for the Airdrop and only 49,363 addresses claimed it, that is ~33% of the total. The initial distribution of tokens is not as wide as we were expecting, therefore the goal is to keep expanding the ecosystem through different initiatives but to also allow all early adopters that are holding RADAR to stake their tokens.

There were currently 652,053,323 RADAR tokens left in the Airdrop smart contract which we’re looking to use for a few initiatives that would expand RADAR to multiple chains, increase token distribution, incentivize liquidity provision and enable single token staking.

Burning the tokens was surely taken into account, but after further research and by carefully analyzing the current RADAR distribution, we haven’t deemed it as a good solution for long term development, but rather a short term action. DappRadar has already a long history and the plan is to build a long-lasting ecosystem, therefore expansion and long-term thinking are our focus. At the same time, the majority of DAOs are usually sending the remaining Airdrop tokens back to their treasuries and we are taking a similar approach, but going straight to the next steps.

Motivation: Putting the remaining tokens to good use will offer RADAR more exposure, will bring further utility for all the tokens holders, it will become much more accessible for a bigger range of potential DappRadar users, because chains as BSC and Polygon have much lower fees and it will increase the overall on-chain liquidity allowing the execution of larger trades with the lowest slippage possible across all 3 chains.

Specifications:

  1. Single Token Staking - 250,000,000 tokens allocated for single token staking for 300 days (~10 months). Token holders will be able to stake RADAR tokens and earn RADAR across all existing chains. A staking dashboard will be built on DappRadar accessible to all the users on the following blockchains: Ethereum, BNB Chain, Polygon.

  2. Extend liquidity rewards on Ethereum - 50,000,000 tokens allocated for extending the rewards for another 3 months, in order to maintain the current liquidity on SushiSwap and potentially extend it, given the upcoming changes, having a healthy liquidity reward program is going to allow trades with lower slippage. Check the previous extension proposal here.

  3. Multichain expansion - 352,000,000 tokens allocated for multichain expansion. As previously discussed in the forum, bridging RADAR to BNB Chain (BSC) is imminent. The smart contract bridge is being worked on as we speak, in partnership with Multichain, and we need to allocate tokens for initiating the first liquidity reward program (Farms and Pools on popular DEXes) on BNB Chain together with other marketing activities. By popular demand, Polygon will follow for bridging and we’re going to split the allocation equally to each chain, aiming for very similar liquidity incentives and marketing activities. More details will be shared as soon as the details are agreed with the partners. If there will be any tokens remaining, they will be sent back to the treasury.

Benefits:

  • Making the token much more accessible by being present on chains like BNB Chain and Polygon with other pairs beside ETH, for example BNB-RADAR and MATIC-RADAR
  • Amass more liquidity across the chains mentioned above to allow low slippage and low fees trading
  • Allow DappRadar users to access PRO features by holding tokens on BNB Chain and Polygon
  • Extend token utility and reducing circulating supply by allowing holders to stake RADAR in the Staking Dashboard for earning RADAR
  • Attracting potential DappRadar users from multiple blockchains

Drawbacks:

  • Distributing a big amount of RADAR tokens
  • Increasing ecosystem management complexity by being active on multiple chains
    Introducing extra potential security risks by having a bridge between chains

Vote:

  • FOR: Use unclaimed Airdrop to extend the RADAR ecosystem
  • AGAINST: Send the unclaimed Airdrop tokens back to the treasury
What we should do with the unclaimed Airdrop tokens?
  • FOR: Use unclaimed Airdrop to extend the RADAR ecosystem
  • AGAINST: Send the unclaimed Airdrop tokens back to the treasury

0 voters

16 Likes

This is Great new’s Sounds amazing keep up the great work.

2 Likes

i vote for but still thinking that a small portion from remainning RADAR can be airdroped for the holders at least 2000 RADAR each

2 Likes

I vote for! RADAR token needs to be much more accessible for users who use Polygon or BNB Chain.

7 Likes

How long will it take to implement the program?

I support the project. but I think that some of the tokens that are not received should be distributed to the areas for possible loss of value in the distribution.regards

1 Like

:fire: I want to extend the RADAR token to BNB Chain and Polygon, but still thinking that a small portion from remainning RADAR can be airdroped for the holders at least 2000 RADAR each

3 Likes

Thanks a lot for the participation and feedback, the proposal is now live on Snapshot for voting. Voting on Snapshot is gasless, so you do not need to pay any fees in order to vote. The active voting strategies are:

  • RADAR Holders
  • SushiSwap - liquidity providers and LP staking
  • Vesting token holders

For the previous proposal we have faced some issues with LP staking on SushiSwap, but now everybody should be able to vote.

Already a dead project!

If you want to revive it you need to burn that tokens as there is no utility and throwing more tokens will be the last injection to kill the project.

I would not vote for this proposal because you haven’t added burning.

I feel shame I trusted you guys we/investors are in big loss and we were hoping that team will do something to make this project great but till now your efforts are more or less zero. You guys just created a token (through thin air) and made money by selling us. Shame on you and your team

Hi @Cryptoyar - while I appreciate your feedback, I believe you are looking at this from the wrong perspective.
First of all, we haven’t sold any tokens to anyone. RADAR is the utility token of DappRadar and it was airdropped (for FREE) retrospectively to active dapp users across Ethereum. If you have acquired any RADAR tokens from an exchange, you have acquired it from another user that potentially received the airdrop or earned RADAR tokens through staking or providing liquidity.

I would strongly suggest you have another look at the whitepaper and you go visit the RADAR page on DappRadar. Please take some time to read and understand what we have achieved so far and what we are going to work on next, take a look at the on-chain metrics like total supply, circulating supply and try to paint a picture for the future. If you have acquired RADAR tokens and expected a quick pump & dump meme token, then you should have probably spent more time to learn more about us and our plans, because we are not here to be alive or dead in 3 months, as per your expectations.

Attacking the team with false accusations is surely not the behavior we want to encourage in this forum or in the DappRadar community, so please refrain from doing that in the future. Thanks and I hope you take the time to learn more about what DappRadar is and how RADAR is going to fuel this ecosystem.

1 Like

I totally agree extending RADAR ecosystem but why BNB and polygon. Choose a better options like Avalanche or Polkadot. You should take future proof decisions.

when it implement guys? I’ve been waiting this single staking :heart_eyes: :heart_eyes: