Participate by proposing upgrades and discussing the future of the protocol with the SundaeSwap community. We concept, design and build innovative, decentralized software to power the next generation of global financial services. SundaeSwap holds a great deal of potential in nurturing the growth of the Cardano ecosystem.
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But besides this particular accounting model quirk that comes with using the Cardano blockchain, SundaeSwap works roughly the same as Uniswap — at least in the initial version. To facilitate swaps, SundaeSwap uses a “SundaeSwap Pool Factory” token that, in conjunction with a minting policy, ensures that asset pairs are unique. The whitepaper for SundaeSwap was published on Jun. 1, 2021, which went over the fundamentals of the protocol.
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A DEX token typically refers to a token of a particular DEX, which can be used for governance, besides holding for long-term value and other advantages. In SundaeSwap’s case, benefits include governance, profit sharing, and reduced fees. There will be challenges and a lot of development work, but the team appears confident and determined. And if it does take even a fraction of the position that Uniswap has for Ethereum, it could prove to be the catalyst for the growth of Cardano. But what really makes SundaeSwap stand out is how it is adapting traditional AMM models to the Cardano blockchain, which has a different accounting model and virtual machine.
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Other updates that have taken place recently include integrating directly via the Ogmios protocol to power stats rollups and tests related to governance. The SUNDAE token is SundaeSwap’s DEX token, which will have a total supply of 2 billion minted once the DEX launches. The distribution of these tokens will happen over time, with the public receiving 55%, the team 25%, investors 13%, recruitment efforts 5%, and advisors 2%. However, concerning the matter of the concurrency issue surrounding the eUTXO model, the team clarified the matter, providing three potential solutions. The first is to create a DEX without a single liquidity pool, the second is to use an order book model, and the last the use of a hybrid model for the exchange.
- The ISO has been delayed but is expected to take place in the coming weeks.
- As such, they treat this first implementation as a preliminary one, with future improvements and upgrades being key to the growth of the DEX.
- The most popular exchange to buy and trade SundaeSwap is CoinEx, where the most active trading pair SUNDAE/USDT has a trading volume of $7,110.46 in the last 24 hours.
A Decentralized Trading Protocol on Cardano.
As such, a native, scalable decentralized exchange, SundaeSwap has a perfect place for it in the ecosystem. SUNDAE tokens can be traded on centralized crypto exchanges and decentralized cmc markets forex broker review exchanges. The most popular exchange to buy and trade SundaeSwap is CoinEx, where the most active trading pair SUNDAE/USDT has a trading volume of $7,110.46 in the last 24 hours.
This is true for the Cardano blockchain as a whole, which has slowly but surely been refining and adding new features to its network. In the six or so months since the publishing of the whitepaper, the team has released numerous updates, but the project remains in its early stages. Currently, the focus lies on releasing version 1 of its product, which the team feels will be a good bedrock for future upgrades.
Built on a next-generation blockchain, SundaeSwap has some unique design elements to address. But in a nutshell, SundaeSwap is an automated market maker that, in its early form, will serve as something like Uniswap for the Cardano blockchain. You can’t have a widely used ecosystem without a reliable DEX to facilitate easy swaps. SundaeSwap is just such a DEX, one that has a unique design and aims to position itself at the heart of the Cardano ecosystem.
The team is well aware that the solutions they propose are nascent in nature and that there is room for improvement. SundaeSwap began its development in 2021 and has been gaining steam since. While it initially met with enthusiasm from the Cardano community, it has only recently begun to gain the attention of those outside that group. The team appears to be following the same development philosophy as Cardano itself, namely that it is taking a measured and methodical approach. SundaeSwap is a decentralized trading protocol that will run natively on Cardano (ADA). Learn how to deposit liquidity, withdraw liquidity, and create new pools.
Simply search for the SundaeSwap stake pool, like any other Cardano stake pool. The airdrop of the SUNDAE token should happen after the first three epochs. You will receive SUNDAE automatically via smart contracts if you have staked in the pool. For those unaware, Cardano is a next-generation blockchain that runs on technology https://forexbitcoin.info/ that differs from Ethereum and its smart contracts. The network has long been a mainstay of the market, but its steady and methodical approach to development has only just resulted in several major updates. But nonetheless I’m still in confidence that ADA gonna be a huge success and will accomplish what it has been meant for.
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The SundaeSwap protocol supports swapping from one token[1] to any other token existing on the Cardano blockchain. Although this functionality exists within the SundaeSwap protocol, there is no option where users are able to use fiat money to purchase tokens. Consequently, you will need to access other crypto services to use a bank account or credit card to purchase your first tokens. It is also important to note that you will need to have Cardano (ADA) in your wallet, in order to pay for transaction fees for your swap to go through. A native, scalable decentralized exchange (DeX) on the Cardano blockchain. Supporting token swaps, liquidity pools, farms, and more for the Cardano ecosystem.
The trading volume of SundaeSwap (SUNDAE) is $21,773.43 in the last 24 hours, representing a -51.10% decrease from one day ago and signalling a recent fall in market activity. The SundaeSwap governance platform is both technically elegant and easy to use. 5% of the supply will be allocated towards the SundaeSwap’s Initial Stake Pool Offering (ISO), with 1% distributed over five epochs. Where SundaeSwap differs is its use of a “Constant Product Pool” model, which increases the efficiency of trading.
The ISO has a shorter duration because the team wants to support the long-term success of the DEX. The chief takeaways from the announcement was concerned with the distribution of assets. SundaeSwap has received funding from some of the industry’s most notable venture firms, including Alameda Research, cFund, and Double Peak. It has also partnered with MLabs and Runtime Verification to facilitate a robust integrated ecosystem.
SundaeSwap was founded by Mateen Motavaf and Artem Wright, who respectively serve as the Chief Executive Officer and Chief Operating Officer. Currently, the team is composed of ten individuals who have several years of experience in fintech and high-tech startups. Learn more about our partners who are helping us build a fully integrated ecosystem. The SundaeSwap protocol is governed by SUNDAE token holders worldwide.
SundaeSwap is aiming to become a decentralized exchange on the Cardano ecosystem. First, you can get the SUNDAE token by staking ADA during the ISO, which makes you eligible for an airdrop for SUNDAE. You will also be able to act as a liquidity provider when the DEX launches, which will reward you with SUNDAE.
