Artistone

Engaging Times for SundaeSwap Ecosystem: Fully-functional Beta DEX Set for January 20

UTC by Steve Muchoki · 3 min read
Engaging Times for SundaeSwap Ecosystem: Fully-functional Beta DEX Set for January 20
Photo: Unsplash

In the yield farming segment, the company has set out 500,000 SUNDAE tokens to be distributed daily for the next six months.

CFund-backed decentralized exchange (DEX) on the Cardano ecosystem, SundaeSwap Labs, has announced key dates for planned activities ahead of its anticipated mainnet launch. Among the key dates, SundaeSwap will launch as a fully-functional beta decentralized exchange (DEX on the Cardano network on Thursday, January 20.

SundaeSwap DEX

Additionally, the company will unveil Yield farming SUNDAE rewards on the same day, Thursday, January 20.

Next week on Tuesday, January 25, the first round of ISO (initial stake pool offering) rewards will be calculated. “ISO participants must delegate ADA to qualifying ISO Scoopers prior to 21:45 UTC on January 25th to be able to earn SUNDAE for all five ISO rounds,” the firm clarified via a medium post.

Notably, the company announced that DeFi and other projects will be allowed to create token pools as of January 18. There are three channels that the SundaeSwap team created to allow its users to get hold of SUNDAE tokens.

One, users can swap other digital assets for SUNDAE tokens on SundaeSwap and other supporting DEXs. The second one is yield farming, whereby users have a chance to earn SUNDAE rewards. The other option is to participate in the planned ISO.

“The ISO will begin as well on Thursday, January 20, and will continue for five epochs, with rewards (5% of the total SUNDAE supply, 1% per epoch) being distributed based on the snapshots that will be taken at each epoch boundary,” the firm noted.

In the yield farming segment, the company has set out 500,000 SUNDAE tokens to be distributed daily for the next six months.

Why SundaeSwap on Cardano Network?

Although almost every other blockchain appearing in the universe is taunted as cheap, fast, and scalable. The Cardano ecosystem has earned itself the title of a reliable network. No wonder it has climbed to top projects in the crypto space over the past two years.

The team behind SundaeSwap saw an opportunity to build the first decentralized exchange on the Cardano network. “… in simple terms, Cardano is faster and cheaper than the alternative smart contract platforms. It also is run by a non-profit foundation and regularly collaborates with high-profile academic institutions. All in all, it is more advanced and a better option for future projects to be built upon,” the SundaeSwap team noted.

Moreover, the Cardano ecosystem has seen its daily transaction volume significantly grow over the past few days. According to a tweet by Lark Davis, a New Zealand-based crypto researcher, Cardano (ADA) is the third in daily transactions volume.

Notably, Davis quoted the Messari study on-chain activity that shows Bitcoin and Ethereum are the leaders in the crypto market.

Altcoin News, Blockchain News, Cryptocurrency news, News
Steve Muchoki

Let’s talk crypto, Metaverse, NFTs, CeDeFi, and Stocks, and focus on multi-chain as the future of blockchain technology. Haha, Take it easy. Let us all WIN!

Related Articles