SundaeSwap, a Cardano-based decentralized exchange, has announced the much-anticipated mainnet debut of a fully-functional beta version of the DEX on January 20.
The company claims that truly decentralized governance is now unfeasible due to technical limitations on the Cardano blockchain, which is why it is still labeled “beta.”
SundaeSwap released its testnet version on December 5.
The DEX concluded its audit in partnership with Runtime Verification in late December (RV).
Farming yields and ISO
On the same day, SundaeSwap’s initial stake offering (ISO) will also begin.
The ISO will include thirty stake pools chosen by the community in November.
The ISO, which will last five epochs, will allow stake pool delegators to earn SundaeSwap (SUNDAE) tokens in addition to their ADA incentives. To participate in the first round, ADA tokens must be delegated to “ISO scoopers” before January 25.
SundaeSwap is by far the most popular Cardano-based DEX, having a much larger social media following than Minswap and Maladex.
On January 20, liquidity providers will also be able to collect yield farming awards, which will be available until at least June. Half a million SUNDAE tokens will be distributed to yield farmers that participate in a variety of liquidity pools.
Rallies for the ADA
According to CoinMarketCap data, the ADA price is up more than 8% in the last 24 hours, well surpassing the rest of the leading cryptocurrencies.
ADA is currently on track to overtake Solana (SOL), another renowned “Ethereum killer,” and reclaim its position in the top five.