SundaeSwap mainnet launch date, ISO & yield farming SUNDAE

SundaeSwap announced that they will launch their DEX to Cardano's mainnet on 20th January, i.e next Thursday. This launch will happen around the evening of that day, Eastern Time.

Launch announcement

Via this announcement the SundaeSwap Team address several topics, some of which we covered recently. Specifically, they announced the following.

1. The ISO would begin on the 25th of January, that's after epoch 315.

   The ISO will allocate 5% of SUNDAE's total supply (i.e 100,000,000 SUNDAE tokens) to participants. This process will be distributed across five rounds, one round per epoch. That means that to qualify ISO participants must delegate their ADA to ISO scoopers before 21:45 UTC of epochs 316, 317, 318, 319 & 320. That would be between January 25th and February 14th.

2. Yield farming SUNDAE rewards will begin on the same day that the DEX launches i.e Jan 20th.

3. SundaeSwap will launch with a BETA label on the mainnet.

   They explained that the reason for the beta label is that full decentralized governance will not be enabled at the start. However, it will be enabled later as Cardano's blockchain parameters are adjusted to accommodate it.

4. Transactions speed will be likely slower at the begin

   The team announced earlier that they expected network congestion on their DEX during the first few days.

SundaSwap launches on mainnet

After 6 weeks being on the testnet, SundaeSwap has finally launched on the mainnet.

You can now swap your favorite Cardano tokens on the DEX. To trade tokens on SundaeSwap, you need first to link your Cardano wallet.

Wallets sundaeswap supports

SundaeSwap supports the following browser wallets:

1. Nami Wallet
2. Eternl (previously ccvault)
3. Gero wallet
4. Flint wallet
5. Card wallet

Yoroi is listed as an experimental version

Hardware wallets are not currently supported on SundaeSwap. Browser extensions for the supported wallets are recommended.

All popular Cardano tokens e.g LQ, SUNDAE, ADAX, MILK, VYFI, DRIP, DANA e.t.c have are immediately tradable on the DEX.

SundaeSwap UI feels clean, uncluttered and professional. Once the current congestion on Cardano network clears up, the trading activity should feel like a breeze.

Like the team behind the DEX announced late last week, SundaeSwap launched with a Beta Mainnet label attached to its UI.

Since it launch, the many users have had to wait for hours for their orders to go through. The long wait is caused by two factors:

1. The Cardano network is under heavy load, hence the DEX scoopers cannot process the all the orders quickly.

   Like the Sundaeswap team earlier announced prior to the launch, the DEX has seen a large volume of orders in its first days. These number of orders should stabilise over time, as users who are just testing the platform subside; leaving actual demand.

2. Like UniSwap, SundaeSwap can only successfully complete orders that are within a given slippage range.

   Prices of tokens on the DEX are constantly changing. This means that some orders that are currently waiting in queue to be processed might never be fullfilled. If the users who placed such orders don't realize that their orders are now beyond the slippage tolerance, then such orders will remain in queue adding onto the networks congestion.

   The solution in such a situation is for the user to cancel such an order and place a new one.

   For context, when the DEX first launched, the price of SUNDAE token was around 0.1 ADA per SUNDAE. That price has now rallied to 0.881 ADA per SUNDAE. Obviously, someone who placed a swap when the price was near 0.2 ADA would have their order stuck in limbo unless they cancel.

The sundaeswap team has been busy addressing these and other concerns. On Saturday, they updated the orders' tab UI so that users can easily tell if their orders are within or outside the slippage tolerance.

Other than swapping tokens, users can now start yield farming SUNDAE tokens. To do that, the user need LP tokens first. The entire process is well documented here by the SundaeSwap team.

People have been wondering if their LP tokens will automatically compound after harvesting Sundae tokens. The SundaeSwap team confirmed that those rewards wouldn't compound.

There is no auto-compounding! When you harvest your rewards you need to restake and start a new yield farming position. If you would like to take advantage of the compounding effect, you can take your SUNDAE rewards, deposit as liquidity, and start a new farming position. ~ SundaeSWap Labs

According to Defi Lama, the total value locked of ADA on SundaeSwap doubled in 24 hours barely a week after launch. Going by this metric alone, there is no denying that SundaeSwap is living up to its hype.

Cardano users can buy $SUNDAE tokens on the SundaeSwap or MuesliSwap DEXs.

Sundaeswap yield farming

The SundaeSwap team will allocate at least 500,000 SUNDAE tokens daily over a 6 months period to yield farmers. These farmers should participate in these pools:

Sundaeswap yield farms

Before participating in the yield farming on SundaeSwap, use this resource to learn about the following aspects:

• How yield farming will work on SundaeSwap
• What pools are eligible to farm SUNDAE
• What the risks and rewards for farming SUNDAE will be