DappRadar DAO has performed a 5.13 million RADAR buyback, purchasing over $33,000 worth of $RADAR tokens spread out over the weekend of 14 and 15 December. The average purchasing price is around $0.0063.

After the first buyback in July 2024, DappRadar DAO has now performed a second RADAR token buyback. Buybacks don’t only show our commitment to what we’re building, but it fortifies the financial backbone of DappRadar DAO.

Success and revenue generated through the DappRadar platform directly impact RADAR, turning achievements into value for token holders through buybacks. Funds for this buyback comes from various income sources of DappRadar DAO. This includes for example revenue share deals, income from developer priority fees and Quest power ups, and validator rewards.

A total of 5.13 million RADAR has been acquired from the open market, using 8.498 ETH. The purchase was done through CoW Swap, using a time-weighted average price order over a 24 hour period. As a result, the average purchasing price of RADAR was around $0.0063.

What we will do with the buyback

After each buyback, DappRadar DAO will lock the RADAR tokens for a period of 6 months. After the locking period, RADAR flows back into the community through quest rewards, contribute-to-earn distributions, the ambassador program, and other community-oriented initiatives.

Future RADAR buybacks

The DAO will execute more buybacks in the future, tightening circulating supply and aligning our business success with a healthy token economy. We do not communicate about buybacks before they’ve taken place in order to avoid market speculation.

Success and revenue generated through the DappRadar platform directly impact RADAR, turning achievements into value for token holders through buybacks. Various revenue streams contribute to the size of the buybacks, including revenue from token swaps, referrals, and quests.

Buybacks not only show commitment to the RADAR ecosystem, but moreover fortify the financial backbone of DappRadar DAO. The first buyback has taken place, and DappRadar DAO purchased 5.5 million RADAR from the open market on Ethereum, for $38,000, with an average price of $0.0065. The DAO will execute more buybacks in the future, and with each buyback the circulating supply of RADAR tightens, aligning DappRadar’s business success with the goal for a healthy token economy.

For this first buyback event:

• ETH spent: 11.12854715 (~$38,500 at the current price)

• RADAR purchased: 5,713,273 (~$38,370 at the current price)

The DAO purchased RADAR over a period of time. The time-weighted average price (TWAP) order was spread out over 24 hours. The DAO used CoW Swap to execute the TWAP order, while the average RADAR price for this purchase was $0.00677.

After each buyback, DappRadar DAO will lock the RADAR tokens for a period of 6 months. After the locking period, RADAR flows back into the community through quest rewards, contribute-to-earn distributions, the ambassador program, and other community-oriented initiatives.

Future buybacks will happen without advance notice to avoid market speculation. These buybacks are currently managed by the DAO core team, and the buyback process needs to decentralize in the future. This shift symbolizes our shared commitment to the vision of the community-owned World’s Dapp Store.

RADAR token revenue streams

DappRadar DAO already has various revenue streams on the DappRadar platform, and more will be added in the future. Portions of these revenue streams will be used for buybacks. For now, the following revenue streams contributed to this first RADAR token buyback.

1. Token swap - fees generated through token swaps and bridges taking place on DappRadar, powered by LIFI Protocol.

2. Referrals - revenue generated by bringing legitimate users to various dapps and ecosystems

3. Quests - revenue generated from the Quests platform, including the multiplier and future additions.

More revenue streams will be added as the DappRadar platform develops and grows.

Closing words

The RADAR buyback program underlines the DAO’s commitment towards creating a healthy RADAR token economy. Success of the platform now reflects on the entire community, benefiting every token holder, liquidity provider and DappRadar PRO member. With the first buyback completed, the community can prepare for a new era where the DAO, the DappRadar platform and its users are all aligned through RADAR.

We know that joining a decentralized autonomous organization (DAO) can be exciting and challenging at the same time, especially for those new to Web3. In an effort to make your onboarding journey as smooth as possible, we have created this guide.

We will explain our governance processes, while also unveiling how the RADAR token plays a huge role in our ecosystem. Let’s first dive in and take a look at the role of the DappRadar DAO and the RADAR token in our ecosystem.

DappRadar, the DAO and RADAR

DappRadar was founded in 2018, and has the ambition to build the World’s Dapp Store. It needs to become what Google Play and the iOS AppStore are for their industry. DappRadar becomes a place where, for example users, investors, gamers and traders discover Web3 projects, while making data-driven decisions through our industry leading metrics.

DappRadar is now transitioning towards a DAO structure, which aims to foster greater community involvement and decentralized decision making. By using the RADAR token, every member can actively participate in governance, by proposing and voting on crucial decisions that shape the future of the platform.

RADAR and governance

You can only vote on governance decisions by having RADAR tokens, because these tokens empower holders to propose changes, vote on various initiatives, or become a PRO member to use advanced product features. Through RADAR, every community member has a proportional voice in our ecosystem. Furthermore, we have created a gamification system, to delegate DAO roles based on levels earned through product and community involvement. In this way, we ensure that the governance has an element of meritocracy.

Our DAO is not meant for individuals alone. Because of the industry supporting position DappRadar has, we see our DAO as an overarching organization. The DAO of DAOs. Every company, DAO or community within Web3 should become part of the DappRadar ecosystem, as we make Web3 discoverable and decentralize the power that traditional app stores hold.

RADAR Treasury and Community Pool

Through DappRadar DAO, community members have both access to our treasury and a dedicated community pool. The treasury supports operational sustainability and strategic projects, like for example liquidity campaign initiatives. While the community pool funds initiatives proposed by DAO members.

RADAR reflects DappRadar’s growing ecosystem, and therefore the value of these pool fluctuate based on market conditions. Product features like the PRO membership and Boosting increase demand, and therefore have a positive impact on the value of the community pool and treasury. Overall, we manage these pools with a focus on transparency and accountability, for example seen in this report.

How to get started with governance in DappRadar DAO

Those of you who are interested in becoming part of the DappRadar DAO, will do well to first follow these 3 steps:

1. Go to our Forum and introduce yourself. Share your interests, and what excites you about participating in our ecosystem. Building social connections early helps to integrate you into the community and makes collaboration easier.

2. Participate in Community Calls and other discussions to understand ongoing projects and processes. Also important, these are excellent opportunities to voice your opinions and perhaps add something new to the table.

3. Understand the proposal process. This is a crucial part of being part of our DAO, because making a proper proposal will make it easier for everybody involved to understand your ideas. For example, a governance proposal should have a clear title, a summary, motivation, and an abstract providing context. For more information about this process, please continue to read.

Four stages of the proposal process

Being part of DAO is not only about drafting proposals and hope for the best. Within the DAO there’s a great variety of people, who all have different ideas. Aligning with the rest of the community is crucial to ensure that your idea passes a vote. If you want to engage in the proposal process, you will be able to identify a couple of different stages.

1. Concept - Whenever you have an idea, let’s talk about it on Discord or on the Forum. Let’s discuss and gather more opinions. This will allow you to align your ideas with the rest of the community.

2. Drafting a proposal - When you have a good idea, then it’s time to draft a proposal. You can do this on our governance forum. Here, once again, you will gather feedback. Based on that feedback you can adjust the proposal accordingly. At some point you will be satisfied, and then it’s time to propose it as a DappRadar Community Proposal, or DCP.

3. Community review - Once a DCP has been published, generally the community gets about 7 days to review your proposal. This community review features a Forum vote. This vote is not binding, but allows you to see the sentiment towards your proposal. If your DCP proposal receives positive feedback, and at least 20 votes, then it’s time to move to the next stage.

4. Snapshot - The community voted DCP moves to Snapshot, a governance voting platform where RADAR tokens holders can approve or deny your proposal. You can only move a proposal to Snapshot if you hold 100,000+ RADAR. A vote also needs to be active for 72 hours, and needs to achieve a minimum of 20,000,000 RADAR votes to pass the quorum. The more RADAR someone has, the bigger their impact on the vote. The vote will either be accepted, or rejected. If your proposal gets rejected, it’s time to go back to the drawing board.

Campaigning for your proposal

Drafting a random proposal and expecting the community to upvote your idea, generally won’t work. Communication is key, and organizations or individuals making a proposal, should be engaging within the DappRadar DAO community. There are various ways to do this:

• Being active on Discord and in the Forum

• Bringing your own community into the DAO and make them have vote as well

• Hosting informational forums on X or other social media to discuss the proposal in depth, and enhancing understanding and support within the community.

Long story short, it’s probably a good idea to do some PR (public relations) around your proposal.

Closing words

As DappRadar DAO evolves and becomes more visible within the wider Web3 ecosystem, we will see more community members looking to join. DappRadar DAO means to be here for the long haul, and therefore we’re looking for long-term players. We welcome your input and support genuine partners who are excited about building the World’s Dapp Store alongside us.

DappRadar DAO is excited to announce the RADAR x Gamma Liquidity Initiative, powered by QuickSwap and Polygon. The DappRadar DAO commits to building up liquidity on Polygon, and wants to reward those who provide and support this initiative.

DappRadar DAO is bringing RADAR to Polygon in order to tap into the Polygon 2.0 ecosystem, where liquidity will be shared across different chains built on Polygon CDK. In addition, having enough liquidity on Polygon is important, because DappRadar will move their RADAR product on-chain. Utilizing a blockchain ecosystem with low transaction fees and fast execution, empowers users and developers alike.

Our move to Polygon will help us with that, and we currently prioritize building liquidity with QuickSwap and Gamma. Both projects have a longstanding reputation, while the efforts from each party in this collaborative initiative strengthens the others.

Provide liquidity through QuickSwap to earn rewards

Right now, RADAR is available on Polygon, but lacks proper liquidity. Together with Gamma we  set up a V3 RADAR-MATIC pool with a tight range, which will create better liquidity and rewards for liquidity providers. Moreover, Gamma will continue to manage our V3 liquidity pools so that the token price is always within range of the pools. This ensures enough liquidity for bigger token trades.

Users and community members can contribute to these RADAR-MATIC pools through QuickSwap. Following community vote DCP-2, DappRadar DAO will allocate tokens from the airdrop pool to extend the RADAR ecosystem. In this case, the DAO will offer 7,5 million RADAR in liquidity rewards over a 6 month period. That means almost $12,000 in rewards per month. In addition, QuickSwap will support the pool with 1,000 QUICK per day, which translates into $2,421 in rewards per month.

Why we choose for V3 pools

The RADAR-MATIC pool will utilize QuickSwap V3, where ‘V3’ refers to the way liquidity provision works. Where V2 liquidity pools simply pool two tokens together, V3 pools work with concentrated liquidity. This means that liquidity providers can set a price range where their funds will be utilized, resulting in more efficient and optimized capital usage. For the end user V3 pools mean less slippage and cheaper transactions, while liquidity providers earn more rewards.

How to provide liquidity

1. Go to QuickSwap

2. Click “Farm”

3. Find the RADAR-MATIC V3 pool

4. Provide RADAR and MATIC in a certain price range

5. Enjoy the rewards

➡️ Visit the pool on QuickSwap

But why are we doing this?

Let’s take a few steps back.

Where traditional app stores are gated by tech behemoths, anybody can launch applications on the blockchain. These developers work on their own in their basement, or work in a team of hundreds of people. Thanks to democratization, anybody can launch a decentralized application, or a dapp, on any of the numerous open blockchain ecosystems out there.

However, launching a dapp is one thing, but people also need to be able to discover the project. That’s where DappRadar comes into play. We allow users to discover dapps through on-chain metrics, like trading volume, total value locked (TVL) of unique active wallets (UAW). But, as I just mentioned, anybody can launch dapps on the blockchain, and there are dozens of chains out there.

We want to list them all. But DappRadar does not want to be the jury, judge and executioner. Listing, approving and curating dapp listings requires the input from development teams and enthusiastic communities. That’s why DappRadar is becoming a DAO, allowing everybody to participate and be rewarded for their contributions. In our vision DappRadar becomes the World’s Dapp Store, built by millions and used by billions.

Progressive decentralization

When we launched DappRadar back in 2018, it became a corporate entity based in Lithuania. Now we are transitioning into a decentralized autonomous organization, or DAO. This is not as easy as flipping a switch, because everything needs to have a legal basis to be compliant with local and international laws.

That’s why we embrace progressive decentralization. This means that we steadily start moving operations and contractors, revenue and costs towards the DAO. However, we will do this gradually to ensure operational resilience and to minimize the disruption to our technical operations and product development. We’re looking forward to building in public and unlocking more growth through our community-driven approach.

DappRadar DAO activity

The RADAR token launched in December 2021, and with that the DappRadar DAO was formed. The DAO has airdropped RADAR to the dapp community, and provided liquidity and staking rewards through past and ongoing campaigns across Ethereum, BNB Chain and Polygon. Since the TGE, RADAR’s role within the DappRadar platform has grown considerably.

The PRO membership has now become a valuable proposition where the community gets access to discovery features and more data points. In addition, they get a 50% discount on trading fees through the cross-chain exchange and bridge integrated on the DappRadar platform, while also enjoying an APY on their staked RADAR tokens.

While the DAO offers valuable services, its social element is growing in prominence through various community initiatives. Particularly the Ambassador Program stands out, where key DappRadar users contribute to the ecosystem by listing dapps, creating content, and representing the community in online events. Read our DappRadar DAO report to get a complete overview of the development, activity, the roadmap and challenges for DappRadar DAO.

Closing words

Where cryptocurrencies decentralize wealth, and Web3 decentralizes technological power, DappRadar will decentralize the central hub for the discovery of blockchain applications. DappRadar will never be owned by a centralized tech behemoth, but governed by a community of developers, users, investors, contributors, builders, dreamers and degens. We’re ready to start writing the next chapter, as DappRadar DAO comes to fruition and we invites you to participate in shaping the World’s Dapp Store.