SundaeSwap, one of the first Cardano-based DEXs (Decentralized Exchanges), is to become operational on January 20The native coin SUNDAE’s ISO (Initial Stake Pool Offering) is also slated for the same date.
A ‘fully-functional’ beta version of the decentralized exchange (DEX) is being deployed since the project requires more time to audit the contracts and conform to industry security standards. Since January, they have been accepting proposals for liquidity pool listing. In the following updates, the platform will incorporate decentralized governance.
Where to Purchase
During the initial phase, users can obtain SUNDAE tokens in three ways. They can take part in the ISO, earn yield farming awards on SundaeSwap, and exchange other SUNDAE tokens on DEXs like SundaeSwap. The ISO is divided into five five-day epochs. 5% of the total token supply will be allocated equally as incentives during the period.
Congratulations to the Sundae Team and ecosystem. It was a long and hard road for them. Also, many more Cardano DApps coming online this quarter to look forward to! https://t.co/54aL66fRMD
— Charles Hoskinson (@IOHK_Charles) January 15, 2022
Another significant feature of the program is yield farming, available from January to June. As yield farming prizes, 500,000 SUNDAE will be provided daily.
More Cardano projects are being developed
SundaeSwap’s entry indicates that demand for Cardano’s native token ADA will increase in the near future. The announcement triggered a bullish surge in ADA, with the price reaching as high as $1.6.
Cardano’s founder, Charles Hoskinson, believes that 2022 will be a watershed moment for the blockchain. According to him, the first half of the year would be critical for the commercialization and utility of Cardano initiatives. He anticipates a tenfold increase in Cardano projects and users this year.
