On Tuesday, September 6th, 2022, the world’s biggest decentralized application (DApp) store, DappRadar made an announcement impactful enough to cheer up the Cardano (ADA) community. The firm announced to the provision of support for the prominent proof-of-stakes blockchain network.
Additionally, DappRadar also requested the developers on the Cardano network to submit their dapp contracts.
Skirmantas Januskas, co-founder and CEO of DappRadar, once said that their company ensures to reward every user. In December 2021, the dappstore announced the launch of its native token dubbed RADAR. The ERC-20 token was created with the intention to reward the members of the existing community. Following its launch, approx ten percent of the overall supply of RADAR tokens was distributed among users and partners, through an airdrop.
DappRadar’s native token had a unique specification that it had not gone on a pre-sale unlike almost every other crypto project within the space. RADAR was created with the sole intention to reward the users who find new and different decentralized applications that could add value to the dappstore.
By now, the dappstore has over ten thousand decentralized applications and over 30 different protocols to track. Out of this impressive amount of dapps, the largest one is said to have a user base of staggering one million users.
Data shows that in terms of total value locked, decentralized finance applications based on the Cardano network are approx 88.46 million worth of TVL. With this amount, the smart contract network comes at 29th place, right behind EOS, Thorchain, and Celo-like blockchain projects.
As per the reports, currently, Minswap is the biggest defi application over the Cardano network. The app holds approx 46.44 million USD in its total value locked. On the surface, the network has proven its worth after launching smart contracts. However, it also received criticism for the same. For instance, billionaire entrepreneur and investor Mark Cuban said that Cardano had made no impact within the crypto space after the launch of its smart contracts.
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