DappRadar Completes First RADAR Token Buyback
DappRadar, the leading dApp store, announced on July 26 that its governance arm, DappRadar DAO, has successfully executed its first buyback of the RADAR token. This move follows a revenue increase of $38,000 from token swaps, referrals, and quests.
Key Highlights:
- Buyback Details: The buyback was managed by DappRadar’s core team but will be DAO-governed in the future to enhance decentralization.
- Token Economy Strengthening: The buyback will reduce the circulating supply of RADAR, currently at 960,096,177, out of a total supply of 10 billion.
- Token Locking: Tokens acquired in the buyback will be locked for 6 months before being reintegrated into the ecosystem through community initiatives.
- RADAR Utility: Launched in December 2021, RADAR is used for staking, governance, and paying transaction fees on the platform.
Market Impact:
Following the buyback announcement, RADAR’s price increased from $0.0063 to $0.0067.
This strategic move not only bolsters the token economy but also aligns with DappRadar’s long-term vision of decentralization and community engagement.
