DappRadar Uses AI to Explain Smart Contracts

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DappRadar PRO members can analyze dapps and understand what on-chain functions are used the most

DappRadar has implemented AI to automatically analyze smart contracts and describe what these smart contracts do. This new feature, exclusive to PRO members, allows users to understand what on-chain functionality of a dapp the community uses the most. 

Each smart contract adds a different functionality to a dapp’s ecosystem. These contracts allow users to, for example, mint NFTs, swap tokens, stake assets or claim rewards. Understanding which smart contracts are most active could give users an idea about the audience of that dapp.

DappRadar PRO members can now dive into the smart contracts of a dapp, and see how often wallets activate each smart contract. Thanks to the API endpoint from Blockfence and their OpenAI model, the system also automatically translates the functionality of a dapp into common human language.

The AI-powered explanation for smart contracts launches on six different chains. It supports dapps on Ethereum, BNB Chain, Avalanche, Polygon, Optimism, and Arbitrum.

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How do you use the AI?

  1. First, become a PRO member by staking 30,000 RADAR. Learn more here
  2. Then filter the Rankings by the 6 supported chains, choose a dapp and visit its dapp page.
  3. Within the dapp page, now click the tab ‘smart contracts’
  4. In the list of smart contracts, you can see how many wallets interact with each contract
  5. Then find the button ‘Explain with AI’ for the smart contract of your choice, and click it
  6. A pop-up, as shown above, will appear explaining the functionality of the smart contract

Why would you use this PRO feature?

Users discover dapps on DappRadar often through the UAW metric, providing insight into the number of unique wallets interacting with a dapp’s smart contracts. However, in many cases they don’t know what these users do. Do they login and claim a daily reward, or does their interaction go a lot deeper?

Thanks to Blockfence and the human-readable smart contract descriptions, PRO members get a much deeper understanding into a dapp’s ecosystem. They can understand better whether users add value to a dapp’s ecosystem, or simply chase rewards and freebies.

Read more: Understanding ANKR: The Next Generation DeFi Platform

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JAC
JAChttps://jacmediatech.com
With 7+ years in blockchain, I lead teams to implement tech solutions. As Creative Sound Director at SpaceCatch, I drive web3 innovation for artists. Simultaneously, as Board Advisor and Investor Relations Manager at EarthTones, I leverage blockchain and gamification to enhance global music experiences. My role involves utilizing digital marketing strategy and transformation expertise, market research, and analysis skills to maintain strong investor relationships, identify opportunities, and contribute to successful fundraising efforts. My goal is to empower artists within the web3 and NFT space, driving innovation and maximizing their potential.