DappRadar has announced its impending closure, ceasing operations after seven years due to financial unsustainability.
TL;DR
DappRadar is closing after seven years due to financial unsustainability, ceasing platform services and DApp tracking. The shutdown will be phased, with DAO and token details shared separately.
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According to an official Odaily from DappRadar, the decentralized application data platform, the company has announced the closure of its platform services. The company stated that operating a platform of this size in the current environment was financially unsustainable, and after exploring various options, it had to make the difficult decision to cease operations.
Founded in 2018 and initially inspired by CryptoKitties, DappRadar aims to help users discover and understand the decentralized application (DApp) ecosystem. Over its seven years of operation, the platform has helped millions of users discover DApps, collaborated with hundreds of blockchains and thousands of developers and projects, and its data has been cited by journalists, used in research papers, and shared globally.
The company stated that it will begin a phased shutdown of the platform over the next few days, ceasing tracking of blockchain and decentralized applications and shutting down related services. Arrangements regarding the DAO and RADAR tokens will be communicated separately through the DAO channel.