Cardano-Based Decentralized Exchange, SundaeSwap, Announces Date for Mainnet Launch

Cardano-based decentralized exchange, SundaeSwap, has announced that the much-anticipated mainnet launch of the fully-functional beta version of the DEX will play out on 20th January 2022.

According to the team, due to technical limitations on the Cardano blockchain, the fully decentralized governance is impossible for now. This is major reason for maintaining the “beta” label.

As reported by Times Tabloid, SundaeSwap launched its public testnet on 5th December 2021. Also, in collaboration with Runtime Verification (RV), the Cardano-based DEX completed its security audit in late December.

In a blog post published on 7th January, the SundaeSwap team stated that during their testnet launch event, a large backlog in processing user actions was noticed, which was partially due to continued improvements to the Scooper order batching program but was more due to the current maximum throughput parameters of the Cardano blockchain.

Although the team admitted that the congestion could impact the user experience negatively, they stated that it is a sign of the Cardano network performing as expected by gradually applying backpressure.

SundaeSwap Mainnet Launch To Play Out On 20th January

In a blog post published on 15th January, SundaeSwap Labs announced that the DEX’s mainnet launch will take place on 20th January 2022. The team stated that the DEX will launch as a fully-functional beta decentralized exchange.

The team says the first round of ISO rewards will be calculated and participants must delegate ADA to qualifying ISO Scoopers prior to 21:45 UTC on 25th January to be able to earn SUNDAE for all five ISO rounds.

On 20th January, yield farming SUNDAE rewards will start. Yield farming will be available for at least the first six months of the SundaeSwap launch, and during this period, LP tokens staked to yield farming contracts in eligible pools can earn additional SUNDAE rewards.

Cardano (ADA) Rallies Displace Solana (SOL)

The price of Cardano (ADA) is up more than 10% over the past 24 hours, according to CoinMarketCap data, vastly outperforming the rest of the top digital currencies.

ADA has now surpassed Solana (SOL), another prominent Ethereum competitor.

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Solomon Odunayo

Solomon is a trader, crypto enthusiast, and analyst with over four years of experience in the industry. He strongly believes that crypto assets and the blockchain will continue to gain prominence. At TimesTabloid.com, he focuses on news, articles with deep analysis of blockchain projects, and technical analysis of crypto trading pairs.