The much-anticipated mainnet debut of a fully-functional beta version of SundaeSwap, a Cardano-based decentralized exchange, will take place on January 20.
Because of structural restrictions on the Cardano blockchain, the team claims that fully decentralized governance is now unfeasible, which is why the “beta” name is still there.
SundaeSwap released its testnet version on December 5, according to U.Today. The DEX, in partnership with Runtime Verification, finished its audit in late December (RV).
SundaeSwap’s initial staking offering (ISO) will begin on the same day. The ISO will include thirty stake pools that were chosen by the community in November.
Stake pool delegators will be able to receive SundaeSwap (SUNDAE) tokens in addition to their standard ADA earnings during the ISO, which will last for five phases. To participate in the first round, ADA tokens must be allocated to “ISO scoopers” before January 25.
SundaeSwap is the most prominent Cardano-based DEX, considerably outnumbering Minswap and Maladex in terms of social media following.
Liquidity suppliers will also begin collecting yield farming awards on January 20, which will last at least until June. Yield farmers who participate in a variety of liquidity pools will receive half a million SUNDAE tokens.
According to CoinMarketCap statistics, the ADA price has increased by more than 8% in the last 24 hours, surpassing the rest of the leading cryptocurrencies. ADA is on course to overcome Solana (SOL), another well-known “Ethereum killer,” and reclaim its top-five spot.
