Rightly or wrongly, the Cardano (ADA) project has been heavily criticized for its “slow” development. The arrival of the decentralized exchange (DEX) called SundaeSwap will make up for an initial delay, and the fact that Cardano is already in consensus by Proof of Stake (PoS) will bring some benefits.
Sundaeswap and its “ISO” is coming today!
Since its Alonzo update on September 12, 2021, the Cardano ecosystem can host the famous smart contracts that allow to program decentralized applications (dApps).
Even if the beginnings are difficult, especially because Cardano’s transaction scalability solution – Hydra – is not yet implemented, a few first dApps have still managed to see the light of day.
After a test phase launched in December 2021, the decentralized exchange SundaeSwap has just announced that it will go live on Cardano’s mainnet on the night of Thursday, January 20 to Friday, January 21 (French time):
“The moment we have all been waiting for has finally arrived! We are happy and proud to announce that SundaeSwap and ISO will be launched on the evening of Thursday, January 20 (EST)!”
Earning Sundae for free and without risk
Without the scalability provided by the upcoming Hydra upgrade, transactions on the SundaeSwap DEX are likely to be (very) slow compared to other blockchains. But the fact that Cardano is already based on Proof of Stake and staking delegation will bring a major advantage.
There is no need for ICOs or token payments/transfers to participate for free in its ISO, or “initial stake pool offering”. It will suffice that ADA owners have delegated their ADAs to participating staking pools at the launch of DEX, as the SundaeSwap teams indicate on their Medium blog (the list of these pools is available there).
Called “ISO Scooper”, these pools will allow you to claim your SUNDAE (SundaeSwap’s own token) for free. All this simply by having delegated your ADA, in the same way that allows you to get the classic staking reward in ADA.
No risk to see the protocol managers leaving with the cash as on other blockchains, since the ADAs delegated to participate in the ISO remain safely in your wallet.
The ISO officially starts on January 20th, but you will have until January 25th (very last deadline) to delegate your ADAs to the participating pools and be part of the first snapshot, which will correspond to the beginning of Cardano’s 317 era. The ISO will then take place over 5 epochs of 5 days each, the last one will start on February 14th (epoch 321).
Realistically, at first, the SundaeSwap DEX has a high risk of not being as functional – in a fast sense – as its competitors on other blockchains, at least until the Hydra enhancement rollout has taken place. Nevertheless, Cardano’s Proof of Stake ecosystem allows you to participate safely in the SundaeSwap ISO, and to enjoy some free SUNDAE refreshments, provided you have delegated your ADA to one of the participating pools.