What is SundaeSwap?
SundaeSwap is a scalable decentralized exchange protocol native to the Cardano blockchain.
SundaeSwap is set to be the top decentralized exchange (DEX) on the Cardano network. Similar to what Uniswap or Pancake Swap are for Ethereum and the Binance Smart Chain respectively, SundaeSwap is set to be a central part of the Cardano ecosystem.
Unlike most IDO’s, SunaeSwap will be doing an ISO, or Initial Stake Offering. This will distribute the initial equity supply to those who have staked Cardano in certain pools known as “ISO Scoopers.”
Key Launch Dates
- Thursday, January 20: SundaeSwap will launch as a fully-functional beta decentralized exchange (DEX).
- Tuesday, January 25: First round of ISO rewards will be calculated. ISO participants must delegate ADA to qualifying ISO Scoopers prior to 21:45 UTC on January 25th to be able to earn SUNDAE for all five ISO rounds.
- Thursday, January 20: Yield farming SUNDAE rewards begin. Yield farming will be available for at least the first six months of the SundaeSwap DEX, and during this period, LP tokens staked to yield farming contracts in eligible pools can earn additional SUNDAE rewards.
How to Participate
Initially, there are going to be three ways to fill your SUNDAESWAP bag:
- Participate in the ISO (available during Cardano epochs 316 through 320).
- Earn Yield Farm Rewards (avail. Jan – June 2022).
- Swap other tokens for SUNDAE on SundaeSwap and other participating DEXs.
When is the ISO?
The ISO will also start Thursday, January 20, and will continue for five epochs, with rewards (5% of the total SUNDAE supply, 1% per epoch) distributed according to snapshots taken at each epoch transition.
To participate in each ISO reward round, you must delegate ahead of the following dates:
- January 25th (21:45 UTC)
- Jan. 30th (21:45 UTC)
- February 4th (21:45 UTC)
- Feb. 9th (21:45 UTC)
- Feb. 14th (21:45 UTC)
As long as you are delegated to an official ISO Scooper (find the list here) before each snapshot is taken, your rewards will be calculated for the epoch you staked in.
Details on where and how you will receive your SundaeSwap tokens and how you can check your outstanding rewards will be shared soon.
HOW TO YIELD FARM:
Yield farming is a different form of staking used by DEXs to reduce the volatility of liquidity pools. You can learn more about yield farming on the SundaeSwap help section here. 500,000 SundaeSwap will be allocated daily over approximately the first six months of the DEX’s operation to yield farmers participating in the following liquidity pools:
- SUNDAE/ADA
- LQ/ADA
- WMT/ADA
- CARDS/ADA
This list of eligible pools is supposed to be adjusted by community vote later when the ecosystem grows and certain stablecoins get launched.