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DappRadar and omnichain interoperability protocol LayerZero have launched a new token to enable cross-chain staking across multiple blockchains and networks supported by the Ethereum Virtual Machine (EVM) \u2013 a move designed to minimize fees and increase access to opportunities. of staking<\/strong><\/p>\n The functionality of the newly launched RADAR token<\/strong> it is provided through a set of smart contracts, DappRadar said. One of the contracts is known as controller and the other as proxy.<\/strong> The two smart contracts work together to enable the new staking mechanism.<\/p>\n Requests to withdraw or claim rewards are sent to the proxy smart contract. It communicates with the controlling contract to determine if the request is valid. If the request is valid, the controller informs the proxy to release the tokens. DappRadar claims that this type of cross-chain staking was not previously available anywhere.<\/strong><\/p>\n DappRadar has also provided documentation that instructs users on how to take advantage of this new functionality. The instructions mention that users can “block [sus] RADAR tokens on Ethereum and then claim the rewards on BNB Chain.”<\/strong> These two networks are the first to be supported, with the rollout for Polygon expected soon.<\/p>\n DappRadar describes itself as a decentralized app exploration platform. RADAR’s overview mentions that the token will help the company expand its coverage, seek faster listings for emerging projects, provide more accurate listings of current projects, and offer better portfolio tools.<\/strong><\/p>\n DappRadar and LayerZero first announced their RADAR token in December 2021.<\/strong> Seven months later, the landscape of the cryptocurrency market has changed dramatically, and the month of June It ended the worst quarter of the last 11 years.<\/strong> Despite the current bear market, other tokens have seen new highs of up to 300%.<\/p>\n Clarification:<\/span> The information and\/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information set forth herein should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.<\/span><\/p>\n Keep reading:<\/strong><\/span><\/p>\n<\/div>\n Investments in crypto assets are not regulated. They may not be suitable for retail investors and the full amount invested may be lost. The services or products offered are not aimed at or accessible to investors in Spain.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" DappRadar and omnichain interoperability protocol LayerZero have launched a new token to enable cross-chain staking across multiple blockchains and networks supported by the Ethereum Virtual Machine (EVM) \u2013 a move designed to minimize fees and increase access to opportunities. of staking The functionality of the newly launched RADAR token it is provided through a set<\/p>\n","protected":false},"author":63,"featured_media":369313,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3394],"tags":[22905,3870,18150,7206,4586],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDcvZTVkY2I1MjItZWYzNC00YmY3LTg5ZjEtMzgwYWVjMjJiNzcxLmpwZw==.jpg","_links":{"self":[{"href":"https:\/\/www.bullfrag.com\/wp-json\/wp\/v2\/posts\/369312"}],"collection":[{"href":"https:\/\/www.bullfrag.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bullfrag.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bullfrag.com\/wp-json\/wp\/v2\/users\/63"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bullfrag.com\/wp-json\/wp\/v2\/comments?post=369312"}],"version-history":[{"count":0,"href":"https:\/\/www.bullfrag.com\/wp-json\/wp\/v2\/posts\/369312\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bullfrag.com\/wp-json\/wp\/v2\/media\/369313"}],"wp:attachment":[{"href":"https:\/\/www.bullfrag.com\/wp-json\/wp\/v2\/media?parent=369312"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bullfrag.com\/wp-json\/wp\/v2\/categories?post=369312"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bullfrag.com\/wp-json\/wp\/v2\/tags?post=369312"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}