SundaeSwap

SundaeSwap is a decentralized exchange (DEX) built for the Cardano blockchain. SundaeSwap is the first DEX in the Cardano ecosystem.

SundaeSwap is the first DEX in the Cardano ecosystem. It allows blockchain participants to provide liquidity and create a market for users to exchange their tokens. Similar to Uniswap, users who exchange tokens on the DEX pay a small fee that gets paid to liquidity providers as an incentive for providing liquidity.

SundaeSwap aims to be much more than a simple DEX where users can swap tokens. However, SundaeSwap also plans to feature staking, lending, borrowing, and more. The protocol is defined by a series of immutable, permissionless, and decentralized smart contracts which allow users to trade assets without a third-party intermediary.

The SundaeSwap protocol was released as a testnet in Q4 of 2021, which allowed users to test and play around with the platform. The fully-functional beta DEX was released on January 20th 2022. At the time of writing, the platform is a fully functional DEX. However, there are still improvements and “cherry on top”, exciting features in the pipeline yet to be released.

While the launch of the DEX was not without a few hiccups in the opening days (more on that later), SundaeSwap looks to be thriving and doing well, with many of the early issues being ironed out and the DEX in full use by many Cardano users. According to the SundaeSwap team, the launch was a huge success.

SundaeSwap Initial Stake Offering (ISO)

Rather than build and manage their own Cardano stake pools, SundaeSwap turned to trusted members in the stake pool community to run stake pools. These stake pools do the heavy lifting when it comes to processing transactions. There are 30 community elected stake pools referred to as “Scoopers,” keeping true to the ice cream theme.

The first round of ISO rewards was calculated on January 25th, and users could participate in the ISO between epochs 316-320. Users who delegated their ADA to qualifying ISO scoopers prior to 21:45 UTC on January 25th could earn SUNDAE tokens for all five ISO rounds.

The ISO began on January 20th and continued for 5 epochs, with rewards (5% of the total SUNDAE supply, 1% per epoch) being distributed based on the snapshots taken at each epoch. Users could participate in the ISO rounds by delegating their ADA to the qualifying Scoopers before the following deadlines:

Getting involved in this ISO would have been a great way to earn some SUNDAE tokens. If you missed the banana boat on the SundaeSwap ISO, no worries, there are plenty of other ways to earn on the SundaeSwap DEX, more on that below. If you are interested in staking ADA into ISPOs for other projects, you can find a Youtube Video from Learn Cardano all about staking ADA into ISPOs.