SundaeSwap (SUNDAE) price
What is SundaeSwap?
The Team Behind SundaeSwap
SundaeSwap Tokenomics Explained
Where to buy SundaeSwap?
3 Reasons to buy SundaeSwap
How to Use SundaeSwap
Bottomline
Decentralized cryptocurrency exchanges have blown up in popularity throughout the past few years.
However, at the start of DeFi, the majority of these decentralized exchanges were developed on top of the Ethereum blockchain. Over time, we saw huge developments and growth in terms of popularity surrounding other competing blockchain networks.
Cardano is by far one of the top leaders in alternatives to Ethereum and has showcased a huge dominance within the marketplace.
As such, it is no surprise that a decentralized exchange would get developed on top of it, and this is what led to the creation of SundaeSwap.
Read through the end, and we will show you exactly how you can use SundaeSwap; but before we dive in deep, let’s go over what SundaeSwap is, the team behind it, as well as its tokenomics.
SundaeSwap (SUNDAE) price
SUNDAE current price is US$ 0.02519 as of 24 August 2022 according to CoinMarketCap.
What is SundaeSwap?
SundaeSwap is one of the most popular Cardano-based decentralized exchanges, which has a huge number of social media followers. The native SundaeSwap Coin, known as SUNDAE, is used to power the platform.
In December of 2021, we saw the launch of the SundaeSwap Testnet, where they showcased what the project would look like.
In other words, SundaeSwap is a native, scalable decentralized exchange and automated liquidity provision protocol, and it is a Cardano SundaesWap DEX.
In terms of the utility surrounding the SUNDAE token, it will be used for governance, profit sharing, and reduced fees. There is a lot of SundaeSwap news circulating, but before that, let’s learn about the team behind the project.
The Team Behind SundaeSwap
SundaeSwap is developed by a team of people who have had prior experience within the world of cryptocurrencies.
The dream team consists of
- Mateen Motavaf – Chief Executive Officer
- Artem Wright – Chief Operating Officer
- Matt Ho – Chief Technology Officer
- Pi Lanningham – Chief Information Officer
- Miklós Süveges – Lead Frontend Engineer
- Mark Hansen – Frontend Engineer
- Andi Kratzel – Frontend Engineer
- Gaston Solis – Lead Graphic Designer
Behind this team, there are also two advisors, including:
- Christopher Borders
- Dewayne Cameron
SundaeSwap Tokenomics Explained
The native cryptocurrency token used on SundaeSwap is known as SUNDAE token, and we are going to go over the SundaeSwap token distribution.
2 Billion SUNDAE tokens are minted at the inception of the DEX and are intended to become available slowly throughout a period of time as the protocol matures.
The allocation, based on the order of largest to smallest goes as followed:
- Public: 55% (1,100,000,000 tokens)
- Team: 25% (500,000,000 tokens)
- Investors: 13% (260,000,000 tokens)
- Future Hires: 5% (100,000,000 tokens)
- Advisors: 2% (40,000,000 tokens)
Additionally, when it comes to the team and investor vesting, the team, investor, and advisor tokens that have been allocated to date are vested and will be released on a 4-year schedule for the team, and a 2-year schedule for the investors and advisors, with an agreed selling schedule on top of the vesting schedule. Vested tokens will be released monthly on a pro-rata basis.
Where to buy SundaeSwap?
Let’s now talk about how to buy SundaeSwap coins. Cryptocurrency investors and traders will be able to purchase the SundaeSwap token when the DEX launches throughout the ISO or swap for it on the DEX.
Alternatively, users also have the opportunity to provide liquidity to the protocol as a means of getting access to SUNDAE tokens on the SundaeSwap mainnet.
You can also check out any SundaeSwap price predictions, and discover how SundaeSwap ADA staking works for the best results.
3 Reasons to buy SundaeSwap
SundaeSwap uses a solid launch mechanism known as the Initial Stake Offering (ISO) as a means of its token distribution. What this means is that users will receive SUNDAE tokens when staking into the pools.
Here are the three major reasons why you want to buy SundaeSwap
- SundaeSwap’s staking potential: This is the key reason because it is a great way to earn additional rewards.
- It’s an early DEX project: SundaeSwap clearly hasn’t hit its prime in terms of its popularity. Therefore, over time, the value of the SUNDAE token could increase to a point much higher than it was at launch.
- The platform revenue’s generating: SUNDAE tokens holders can receive a portion of the platform revenue, depending on the number of the tokens that they own, and governance rights are also granted to SUNDAE token holders once the voting mechanism is available, where they can decide the future of the protocol together, while still following the law when voting on these changes.
How to Use SundaeSwap
- Step 1: Navigate to the official SundaeSwap website – after which you can click on “Enter App” to access just about everything you are looking for.
From the home menu, you have access to numerous options.
- Step 2: On the top right corner of the screen, click on “Connect Wallet” and connect the cryptocurrency wallet that you will be using as a means of conducting all of your swaps and transactions within the platform.
For the time being, you can collect Nami, ccvault.io, GeroWallet, FlintWallet, and CardWallet.
On the home screen, you are provided access to some common trading pairs, such as SUNDAE/ADA, for example, and you have access to swapping the token in question or providing liquidity.
- Step 3: Decide if you want to Swap the token in question or provide liquidity.
- Step 3.1: Swap the token – Here, you will need to click on Swap SUNDE/ADA, for example, and on the following menu, decide how many tokens you want to use for your swap.
- Step 3.2: Provide liquidity by connecting your wallet and contributing tokens.
Note that the APR percentage will differ based on the pool chosen here. For example, at the time of writing, the SUNDAE-ADA Yield Farming pool has an average APR of 83.67%.
Keep In mind that if you do not have any LP Tokens for this pair before you can Yield Farm, ensure that you deposit liquidity and ensure that you understand all of the risks involved with doing so. This is how you can engage in SundaeSwap staking.
Step 4: Check the Queues – SundaeSwap enables you to get an in-depth look at the Queues, where you can see an approximate number of processable orders in the queue for the deepest pools. Note that all other pools are operating normally that isn’t listed here.
Bottomline
SundaeSwap is a decentralized exchange protocol built on top of the Cardano Network, which enables the native token and ADA exchanges for anyone. With this protocol, users can swap, stake, lend, borrow and do a lot more in a decentralized way. It has a simple user interface, and it is easy to understand and use by just about anyone.
Regarding how this launch affects the Cardano (ADA) price, the token has seen a bullish increase in value, and its circulating supply saw a solid boost as well. Ultimately, this is a solid addition to the overall Cardano ecosystem.
