Review SundaeSwap ($SUNDAE) – The Latest DEX in Defi
Are you interested in new crypto projects using Cardano? If you say yes, you must have heard about SundaeSwap.
Crypto traders and miners from the United States and other parts of the world are very excited about this new platform that helps to trade and swap the tokens for different Cardano-based crypto projects. Read the article completely to understand more about it.
Concept Project – What is SundaeSwap?
SundaeSwap is a kind of Automated Market Generator (AAM). This decentralized application helps users make trades on tokens native to the Cardano blockchain, which is fast, secure, and anonymous. For this reason, traders and miners all over the world are adopting this technology.
On the other hand, they use an automated market model that allows users to provide the required liquidity to LP, a liquidity pool, and trade against it. They are using the advantage of ISO, which stands for Initial Stake Pool Offering. A person or a group of persons can contribute to the pool accordingly.
Outstanding features
What is the project trying to achieve?
SundaeSwap aims to be Cardano Network’s UniSwap and will implement the same constant product group AMM algorithm: x * y = k
What is unique selling point?
A Decentralized Exchange (DeX)
- Democratize Ownership & Profits: Deconstruct the walled garden profits of classic financial institutions.
- Efficient Liquidity: Level up beyond constant product pools and put your capital to work.
- A Foundation for a Wealth of Products: Attract assets that can empower an ecosystem of financial products.
Initial Stake Pool Offering (ISO)
- Fundraising DeFi projects using tools found natively on the Cardano blockchain.
- Profoundly Trust Oriented: Minimize risk to your initial capital, and demand accountability.
- Cardano Empowering: Invest in the security of the Cardano Blockchain with Partner pools & promote future staking.
- Engage a Community: Spread opportunity among many, not the few or the lucky.
RoadMap
How to own the token?
In the first place, to get SundaeSwap’s SUNDAE token is to exchange by staking ADA(ISO). It is the primary and most discussed method.
In the second place, avail this token is to be a Liquidity Provider on their given protocol.
In the third place, purchase the token from DEX, which is doing by swapping the available ADA for SUNDAE. Profits are also made by swapping the token.
Technical Data
$SUNDAE is the SundaeSwap’s native exchange token. You will need to purchase $SUNDAE to participate in liquidity pools, yield farming, lottery, and other exciting features such as purchasing NFTs
Token Allocation
Token Use case
- Creation of Token Pairs (Liquidity Pools) → Liquidity Farming (Decentralized Profits)
- Governance → Creation of Proposals, Voting (Community decides on future updates)
- Yield Farming → Stake LP token for additional rewards
Token Sale
Updating…
Markets and Community
Market Supply
- Total Supply: 208,584 SUNDAE
- Total number of holders: 10 addresses
- Total transfers: 93. This is to be considered while deciding Where To Buy Sundaeswap.
- Contract: 0xe7a065fc41889179d32d9d0157fd83265b2c6dda
- Fully Diluted Market Cap: Updating
Future Work
There are a number of extensions to the protocol above that they are finalizing the details on, and which will be discussed in future whitepapers. For example:
- The role of the SUNDAE token
- A mechanism to increase throughput dramatically
- A mechanism to provide concentrated liquidity for more efficient market leverage
- A mechanism to provide secondary derivative markets
- A mechanism to further decentralize the role of the liquidity pool
Backers
Team/ Founders
Sundae was founded by Artem Wright and Mateen Motavaf, who are both students at Boston University. They met in September of 2020, and after they got to know each other better they learned about PancakeSwap. Both loved the idea of DeFi in general and when they learned about Cardano and its upcoming launch of Smart Contracts, they decided that they wanted to build their own protocol.
Partners
- Liqwid Finance – An open-source, algorithmic, and non-custodial interest rate protocol built for lenders, borrowers, and developers.
- Indigo Protocol – An algorithmic, autonomous synthetics protocol for on-chain price exposure to real-world assets, built on Cardano.
- MLabs – A Haskell, Rust, Blockchain, and AI consultancy company.
- Cardstarter – A decentralized accelerator and swapping platform, connecting early-stage Cardano innovators with SundaeSwap community of donors.
Advisor
Emily Pillmore was a model validator on Wall St. for 5 years before finding her way to functional programming. Since then, she has done work on massively distributed systems, including Disney, Bank of America, and more recently Kadena, using a mix of technologies ranging from Scala to Haskell.
Emily Pillmore was a model validator on Wall St. for 5 years before finding her way to functional programming. Since then, she has done work on massively distributed systems, including Disney, Bank of America, and more recently Kadena, using a mix of technologies ranging from Scala to Haskell.
Alternative project
Who are the competitors?
Ergodex – Minswap – Cardax – Adax (sketchy) – FlanoSwap (SCAM)
Planning for Upgrades
Furthermore, They plan on enabling a seamless upgrade. The validator contracts holding liquidity allow it spends by a future version of the protocol to achieve that. This list of future versions will initially be null. But through a vote of SUNDAE token holders, this value can update to point to a new contract. Once that value is updated, this locked liquidity can be spent directly on the new version of the protocol without user interaction.
Conclusion and analysis
All things considered, they are probably not changing the world with its DEX. But They have a solid vision and mission behind it. The project seems profit-oriented and strives for fair governance. That makes it fitting for the Cardano ecosystem.
Find more information about SundaeSwap
Website: https://www.sundaeswap.finance/
Telegram: https://t.co/Up9wTuZ7gT?amp=1
Twitter: https://twitter.com/SundaeSwap
We invite you to join our Telegram for faster news:Â https://t.me/coincunews
Coincu research
Elise
Author
DeFi Reviews, Knowledge
Review SundaeSwap ($SUNDAE) – The Latest DEX in Defi
Are you interested in new crypto projects using Cardano? If you say yes, you must have heard about SundaeSwap.
Crypto traders and miners from the United States and other parts of the world are very excited about this new platform that helps to trade and swap the tokens for different Cardano-based crypto projects. Read the article completely to understand more about it.
Concept Project – What is SundaeSwap?
SundaeSwap is a kind of Automated Market Generator (AAM). This decentralized application helps users make trades on tokens native to the Cardano blockchain, which is fast, secure, and anonymous. For this reason, traders and miners all over the world are adopting this technology.
On the other hand, they use an automated market model that allows users to provide the required liquidity to LP, a liquidity pool, and trade against it. They are using the advantage of ISO, which stands for Initial Stake Pool Offering. A person or a group of persons can contribute to the pool accordingly.
Outstanding features
What is the project trying to achieve?
SundaeSwap aims to be Cardano Network’s UniSwap and will implement the same constant product group AMM algorithm: x * y = k
What is unique selling point?
A Decentralized Exchange (DeX)
- Democratize Ownership & Profits: Deconstruct the walled garden profits of classic financial institutions.
- Efficient Liquidity: Level up beyond constant product pools and put your capital to work.
- A Foundation for a Wealth of Products: Attract assets that can empower an ecosystem of financial products.
Initial Stake Pool Offering (ISO)
- Fundraising DeFi projects using tools found natively on the Cardano blockchain.
- Profoundly Trust Oriented: Minimize risk to your initial capital, and demand accountability.
- Cardano Empowering: Invest in the security of the Cardano Blockchain with Partner pools & promote future staking.
- Engage a Community: Spread opportunity among many, not the few or the lucky.
RoadMap
How to own the token?
In the first place, to get SundaeSwap’s SUNDAE token is to exchange by staking ADA(ISO). It is the primary and most discussed method.
In the second place, avail this token is to be a Liquidity Provider on their given protocol.
In the third place, purchase the token from DEX, which is doing by swapping the available ADA for SUNDAE. Profits are also made by swapping the token.
Technical Data
$SUNDAE is the SundaeSwap’s native exchange token. You will need to purchase $SUNDAE to participate in liquidity pools, yield farming, lottery, and other exciting features such as purchasing NFTs
Token Allocation
Token Use case
- Creation of Token Pairs (Liquidity Pools) → Liquidity Farming (Decentralized Profits)
- Governance → Creation of Proposals, Voting (Community decides on future updates)
- Yield Farming → Stake LP token for additional rewards
Token Sale
Updating…
Markets and Community
Market Supply
- Total Supply: 208,584 SUNDAE
- Total number of holders: 10 addresses
- Total transfers: 93. This is to be considered while deciding Where To Buy Sundaeswap.
- Contract: 0xe7a065fc41889179d32d9d0157fd83265b2c6dda
- Fully Diluted Market Cap: Updating
Future Work
There are a number of extensions to the protocol above that they are finalizing the details on, and which will be discussed in future whitepapers. For example:
- The role of the SUNDAE token
- A mechanism to increase throughput dramatically
- A mechanism to provide concentrated liquidity for more efficient market leverage
- A mechanism to provide secondary derivative markets
- A mechanism to further decentralize the role of the liquidity pool
Backers
Team/ Founders
Sundae was founded by Artem Wright and Mateen Motavaf, who are both students at Boston University. They met in September of 2020, and after they got to know each other better they learned about PancakeSwap. Both loved the idea of DeFi in general and when they learned about Cardano and its upcoming launch of Smart Contracts, they decided that they wanted to build their own protocol.
Partners
- Liqwid Finance – An open-source, algorithmic, and non-custodial interest rate protocol built for lenders, borrowers, and developers.
- Indigo Protocol – An algorithmic, autonomous synthetics protocol for on-chain price exposure to real-world assets, built on Cardano.
- MLabs – A Haskell, Rust, Blockchain, and AI consultancy company.
- Cardstarter – A decentralized accelerator and swapping platform, connecting early-stage Cardano innovators with SundaeSwap community of donors.
Advisor
Emily Pillmore was a model validator on Wall St. for 5 years before finding her way to functional programming. Since then, she has done work on massively distributed systems, including Disney, Bank of America, and more recently Kadena, using a mix of technologies ranging from Scala to Haskell.
Emily Pillmore was a model validator on Wall St. for 5 years before finding her way to functional programming. Since then, she has done work on massively distributed systems, including Disney, Bank of America, and more recently Kadena, using a mix of technologies ranging from Scala to Haskell.
Alternative project
Who are the competitors?
Ergodex – Minswap – Cardax – Adax (sketchy) – FlanoSwap (SCAM)
Planning for Upgrades
Furthermore, They plan on enabling a seamless upgrade. The validator contracts holding liquidity allow it spends by a future version of the protocol to achieve that. This list of future versions will initially be null. But through a vote of SUNDAE token holders, this value can update to point to a new contract. Once that value is updated, this locked liquidity can be spent directly on the new version of the protocol without user interaction.
Conclusion and analysis
All things considered, they are probably not changing the world with its DEX. But They have a solid vision and mission behind it. The project seems profit-oriented and strives for fair governance. That makes it fitting for the Cardano ecosystem.
Find more information about SundaeSwap
Website: https://www.sundaeswap.finance/
Telegram: https://t.co/Up9wTuZ7gT?amp=1
Twitter: https://twitter.com/SundaeSwap
We invite you to join our Telegram for faster news:Â https://t.me/coincunews
Coincu research
Elise
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