SundaeSwap will launch a fully functional beta next week
SundaeSwap, a Cardano-based decentralized exchange, has announced that the much-awaited mainnet launch of a fully-functional beta version of the DEX will take place on Jan. 20.
The team claims that fully decentralized governance is impossible at this time due to the technical limitations of the Cardano blockchain, which is why they are sticking to the “beta” label.
As reported by U.Today, SundaeSwap launched its testnet version on Dec. 5.
At the end of December, the DEX completed its audit in conjunction with Runtime Verification (RV).
ISO and yield farming
SundaeSwap’s initial staking offering (ISO) will also kick off on the same day.
Thirty participation pools selected by the community in November will participate in ISO.
The ISO, which will last for five epochs, will allow stake pool delegators to earn SundaeSwap (SUNDAE) tokens on top of their regular ADA rewards. ADA tokens have to be delegated to “ISO scoopers” prior to Jan. 25 in order to take part in the first round.
SundaeSwap is by far the most popular Cardano-based DEX, with its social media following greatly surpassing Minswap and Maladex.
On Jan. 20, liquidity providers will also start earning yield farming rewards that will be available at least until June. Half a million SUNDAE tokens will be allocated to yield farmers participating in a selection of liquidity pools.
ADA gatherings
The price of ADA has risen more than 8% in the past 24 hours, according to data from CoinMarketCap, significantly outperforming the rest of the major cryptocurrencies.
ADA is now on track to surpass Solana (SOL), another prominent “Ethereum killer,” and win back its place in the top five.
