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DappRadar Token Plunges After Platform Announces Shutdown - Unchained
DappRadar, the popular platform that tracks decentralized applications across multiple blockchains, announced it will shut down after seven years
DappRadar’s native token RADAR dropped 38% after the platform’s co-founders shared the news on X.
This story is an excerpt from the Unchained Daily newsletter.
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“Running a platform of this scale became financially unsustainable in the current environment, and after exploring every option, we had to make the difficult decision to wind things down,” said founders Skirmantas Januškas and Dragos Dunica.
A decision on what happens to the platform’s DAO are still ongoing, and its token’s future is undecided, but some users criticised the decision to announce the shutdown without first converting the treasury funds into USDC.