SundaeSwap, a decentralized exchange (DEX) that operates on the Cardano network (ADA), had its launch confirmed this Monday (17). According to DEX’s official profile on twitter, the official launch will take place on Thursday (20).
The launch will take place on Cardano’s main network, meaning SundaeSwap will be operating in a fully functional manner. It was not announced when the launch will take place.
According to SundaeSwap, the DEX platform is still in beta mode. The team highlighted that this will serve as a way to keep expectations in line. In this sense, the objective is to avoid frustrations like those that occurred in past releases.
“We are launching with a Beta label because while DEX’s smart contracts have been fully audited and will meet all security standards, implementing fully decentralized governance will not be immediately possible due to existing transaction size limits at Cardano” , said the team.
SundaeSwap was released on December 5th, but only as a trial version. Because of the limitation, the expectations of Cardano users were quite frustrated, as it revealed a possible negligence in the elaboration of the platform.
As CriptoFácil reported, the disappointment of the time impacted the price of ADA, which fell by more than 7%. Monday’s announcement had the opposite effect, as the cryptocurrency came to appreciate almost 10% throughout the morning.
Functional yield pools
In addition to cryptocurrency trading, SundaeSwap will also launch its yield pool on January 20. Titled Sundae, the pool will be available for at least the first six months of DEX.
Tokens left there will earn rewards in SUNDAE, the DEX token, and the pool will have the following pairs available:
Finally, SundaeSwap will also feature its fully functional Initial Stake Offerings (ISO), starting next Tuesday (25th). ISOs are how the SundaeSwap team decided to distribute the tokens for their DEX.
The ISO will distribute tokens to users who have left their ADA in staking in several different pools. That is, whoever provided liquidity for the transactions not only obtained income, but will also earn SUNDAE tokens.
However, only users who have been selected and voted on by the community will receive the tokens. Those who failed but want to get SundaeSwap tokens can participate in the ISO by delegating their cryptocurrencies to these participation pools. In return, they will be rewarded.
For Cardano investors and enthusiasts, the news came at a good time precisely to mitigate the cryptocurrency’s loss of space. Since Metaverse tokens gained prominence, ADA has been losing value due to its difficulty in delivering multiple projects on time.