Blockchain Developers Tokens Smart Contracts

DappRadar and LayerZero launch chain-agnostic staking token

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DappRadar and omnichain interoperability protocol LayerZero have launched a new token to enable cross-chain staking across multiple blockchains and Ethereum Virtual Machine (EVM)-compatible networks — a move designed to minimize fees and increase access to staking opportunities.The functionality for the newly launched RADAR token is provided through a set of smart contracts, DappRadar said.

One of the contracts is known as the controller and the other as a proxy. The two smart contracts work together to enable the new staking mechanism.Requests made to withdraw or claim rewards are sent to the proxy smart contract.

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