After seven years, blockchain and app data site DappRadar has announced that it’s shutting down.
Describing the costs of running its platform as being “financially unsustainable in the current environment, and after exploring every option”, co-founders Skirmantas Januškas and Dragos Dunica said that they “had to make the difficult decision to wind things down”.
The result will be that the DappRadar platform, its associated services such as the portfolio tracker and airdrop tracker will be shut down. Of course, the raw data tracking activity on dozens of blockchains and tens of thousands of apps will also halt in the coming days.
Launched in 2018 at the start of the Ethereum app boom, Lithuania-based DappRadar raised around $8 million in funding, mainly from a $5 million series A round in 2021.
It also launched its RADAR token in late 2021, which was used to access its Pro account as well as run a DAO.
The company founders add that decisions around the RADAR token and the DAO still need to be made but that “we want the community to be part of that discussion”.