Key Takeaway:
- World’s dApp store, DappRadar, completes first buyback of its native token
- DappRadar DAO undertakes token repurchases after revenue increase
- Token redemption strengthens project’s token economy by reducing circulating supply
- Platform plans to lock repurchased tokens for 6 months before reintegrating them into the ecosystem
- RADAR token price sees slight gains after the buyback announcement
DappRadar Completes First RADAR Token Buyback
DappRadar recently completed the first buyback of its native token, RADAR, through the DappRadar DAO, following a revenue increase in the Web3 analytics platform.
Strengthening Token Economy Through Token Repurchase
The token redemption of RADAR tokens aims to enhance the project’s token economy by decreasing the circulating supply, with plans to lock the repurchased tokens for 6 months before integrating them into the ecosystem through community initiatives.
RADAR Token Sees Price Increase Post Buyback
Following the announcement of the buyback, the price of the RADAR token experienced a slight increase, moving from $0.0063 to $0.0067 as users utilize it for transaction fees, staking, and governance within the DappRadar platform.
