Cardano-based DEX to launch mainnet beta version as ADA surges 8%

Cardano-based decentralized exchange (DEX), SundaeSwap, announced it will launch its fully-functional mainnet beta version next week.


Cardano-based DEX SundaeSwap
SundaeSwap

SundaeSwap has announced that it will launch the mainnet fully-functional beta version on January 20.


According to the team, a fully decentralized governance is impossible for now due to technical limitations on the Cardano ecosystem. As a result, it has to stick with the beta version.


Note that SundaeSwap launched its testnet version on December 5. Moreover, the DEX completed its audit in collaboration with Runtime Verification (RV) in late December.


SundaeSwap’s ISO and yield farming


The DEX initial staking offering (ISO) will also start on the same day as per reports.


Aside from this, 30 stake pools that the community selected in November will also happen in the ISO.


Furthermore, the ISO, which will last for 5 epochs, will enable stake pool delegators to earn SundaeSwap (SUNDAE) native tokens on top of their regular Cardano (ADA) rewards. Based on reports, ADA tokens have to be distributed to ISO scoopers prior to January 25 to take part in the first round.


On January 20, liquidity providers will also begin to earn yield farming rewards until June. More so, 500k SUNDAE tokens will be given to yield farmers participating in a selection of liquidity pools.


According to CoinMarketCap data, ADA price is up over 8% in the past 24 hours, vastly outperforming the rest of the top cryptocurrencies.