Run by SundaeSwap Labs, SundaeSwap is a novel decentralized exchange (DEX) protocol soon to be launching on the Cardano blockchain. Hoping to catch the wave of adoption Cardano is anticipating with the Goguen launch, SundaeSwap Labs aims to offer a suite of peer-to-peer decentralized trading tools catering to everyday traders. Its primary project, SundaeSwap, brings a familiar automated market maker (AMM) trading experience. Under the hood of the project, SundaeSwap implements a novel eUTXO model, or “Extended unspent transaction output” model. Operating in conjunction with the accounting model is the multi-utility SUNDAE token. Additionally, SundaeSwap incorporates three other tokens within its tokenomic structure.
In this article, we are going to dive deep into the SundaeSwap decentralized exchange ( DEX ). We will explore its establish team, SundaeSwap Labs, Inc., and look at how the eUTXO mannequin makes SundaeSwap a alone Cardano DEX. additionally, we ’ ll discover the roles and utilities of the native SUNDAE token, plus the assorted other tokens in the ecosystem .
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What is SundaeSwap?

SundaeSwap is an unowned decentralized exchange soon to be operating on the Cardano blockchain. With an intuitive drug user experience ( UX ) invention, SundaeSwap creates a permissionless space for “ efficient cryptocurrency transactions ” using blockchain technology. Participants of the SundaeSwap protocol can create markets by providing liquid, allowing others to exchange native tokens.

Striving to achieve “ the Uniswap of Cardano ” status, SundaeSwap operates the lapp traditional automatize market maker ( AMM ) algorithm ( x * yttrium = thousand ) in addition to some innovative Cardano-specific twists. From the user-end perspective, the have will be slightly like to other popular AMMs such as Uniswap, PancakeSwap, and SushiSwap .
Under the hood of the undertaking, the SundaeSwap decentralized exchange ( DEX ) will operate slenderly differently from its DEX counterparts on early chains. As an innovative take on Ethereum ’ s accounting model and Bitcoin ’ s UTXO model, the SundaeSwap Cardano DEX is implementing the novel eUTXO exemplary, or “ unfold unspent transaction output signal ” model. We will discuss this in far depth later in the article. With the likely to be the leading Cardano DEX, SundaeSwap is, at the time of write, a plan still under exploitation led by SundaeSwap Labs .

SundaeSwap Labs

SundaeSwap Labs, Inc., or plainly ‘ SundaeSwap Labs ’, is responsible for the design and execution of the Cardano decentralized exchange ( DEX ). Trading primarily as a software company, SundaeSwap Labs ’ mission is to “ enable economic authorization for all ”. To achieve this, SundaeSwap Labs is developing a suite of peer-to-peer tools facilitating the utilization of cryptocurrencies. As such, the beginning product to launching and the heart of the SundaeSwap Labs development dodge is the SundaeSwap Cardano DEX .
With headquarters operating from the San Francisco Bay Area, West Coast, Western US, SundaeSwap Labs has witnessed successful fund-raise for the project since its origin on June 7th, 2021. SundaeSwap Labs presently has three core investors at the clock time of writing. These are cFund, Double Peak Group, and Alameda Research as the most holocene investor. together, these investors put in $ 1.3 million during the source fund cycle on September 21st, 2021, to contribute towards the development of the newfangled Cardano DEX, SundaeSwap .
SundaeSwap Labs brands itself as “ a family of risk-takers and innovators looking to spearhead the future of finance ”. however, although technically SundaeSwap Labs, Inc. is a centralized arrangement, the SundaeSwap Cardano DEX is a amply open-source, decentralized protocol. furthermore, the protocol operates government management through the consumption of the native SUNDAE token and a decentralized autonomous organization ( DAO ) .

Cardano DEX

The Cardano blockchain presently sits as the third-largest blockchain in universe by market ceiling, according to CoinGecko. Cardano Network presents a progressive, creative, and innovative approach to the development of blockchain technology. Furthermore, with a “ dull and steady ” mentality, the Cardano Network is launching its amply functional features in five stages. The first two phases, Byron and Shelley, are operational, providing solid foundations for decentralization. The third phase, Gogen, will introduce the routine of chic contracts. This stage is set to attract large amounts of utility and economic natural process to the network .
As such, with its original approach to development and focus on energy efficiency, SundaeSwap Labs believes that Cardano is the best blockchain to deploy the SundaeSwap DEX. Furthermore, with a large exploiter base eagerly anticipating the launching of the Gogen phase, SundaeSwap Labs aims to capture this market and provide a seamless and effective manner to transact and exchange cryptocurrencies. besides, SundaeSwap offers some of its participants the opportunity to earn a passive income with decentralized finance ( DeFi ) .
Although the project is placid in development to become a fully operational smart contract-compatible blockchain, Cardano works with a different infrastructure to most blockchains. Both the virtual machine ( VM ) and accounting models on the Cardano blockchain operate quite differently from bequest blockchains .

eUTXOs

With plans for long-run development, the SundaeSwap exchange will initially use an adaptation of the automated marketplace manufacturer mannequin ( AMM ). Plus, Cardano uses a up-to-date accountancy and murder model that builds on a simple version of the Bitcoin UTXO model. The “ Extended unspent transaction outputs ” model ( or eUTXO model ) facilitates the lapp deposit, withdrawal, and swap liquidity functions. however, eUTXOs largely disfavor “ the function of global country ”. besides, the eUTXO exemplar chooses to “ passively ” implement ache contracts rather than using “ an explicit function call ” .
The eUTXO model is a design build on the original UTXO model introduced in 2009, with the Bitcoin blockchain. In shortstop, the UTXO model tracks transactions by “ pointing at a specific ( unspent ) end product from a previous transaction, which then gets consumed as the input to a new transaction ”. The Cardano eUTXO model advances the bequest model by equipping the UTXO transactions with an arbitrary datum. furthermore, the script that locks funds can access input data called the “ jesus ”, along with the full transaction data .

SundaeSwap Tokens 

Using the Cardano Network ’ south novel accounting model, the decentralized substitute ( DEX ) protocol operates with respective tokens. Below we cover the four SundaeSwap tokens enabling SundaeSwap ’ second sweetness and singular execution of the Uniswap constant product pool model.

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Global Pool Factory Token

With the first execution of the project launching, participants will receive singular “ SundaeSwap Pool Factory ” tokens when providing two assets to the chopine. In change state, this facilitates the creation of unique token-specific “ Asset Pair Liquidity Pool ” tokens. furthermore, these global tokens besides hold responsibilities for minting policies with tracking tokens. We discuss the utilities of tracking tokens further on .

Asset Pair LP Tokens

Asset Pair LP tokens are tokens that participants receive in tax return for providing two different assets to create a liquid pool. Each bent of Asset Pair LP tokens are singular to a specific pool. furthermore, Asset Pair LP tokens are cryptographically secured in a script alongside the pond ’ south liquid .

Tracking Tokens

fluidity providers ( LPs ) receive tracking tokens that enable them to track their share of a liquid consortium. This aids in the reduction of slippage and loss of funds. When enough liquid is deposited into a pool, the mint policy facilitates the universe of tracking tokens. besides, the mint policy makes it possible to burn tracking tokens .

SUNDAE Token

The native SUNDAE nominal holds three key responsibilities. The first utility of the SUNDAE token is a reduction in deal fees. The SundaeSwap chopine hopes the SUNDAE keepsake will attract large-volume traders, such as institutional investors, portfolio managers, and arbitrage assistants. Holders will be able to reduce their deal fees, frankincense reducing overheads with large and frequent transactions .
The second gear duty of the SUNDAE token is facilitating holders with administration rights of the platform. SUNDAE token holders will be able to partake in on-chain vote mechanisms surrounding protocol updates. Further, SUNDAE token holders who participate in administration updates will receive SUNDAE token rewards. Upon an upgrade being chosen, SundaeSwap Labs will take an “ freelancer ” approach. This will enable SUNDAE token holders to influence the development and execution of the upgrade .
finally, the third gear character of the SUNDAE token has so far to be amply disclosed. however, we do know that SundaeSwap Labs plan to use the SUNDAE nominal to distribute character of the protocol ’ randomness net income tax income among token holders. Be that as it may, SundaeSwap Labs has so far to share any demand mechanisms for doing so .
With a maximal supply of two billion tokens, the distribution of the SUNDAE keepsake is largely through an Initial Stake Pool Offering ( ISPO ) model. besides, more than one-half ( 55 % ) of SUNDAE tokens are to be given to the public. Plus, SundaeSwap will reward early participants of the SUNDAE token ISPO with future SUNDAE keepsake rewards .

SundaeSwap Future Plans

While theoretically, SundaeSwap holds the likely to become the “ Uniswap on Cardano ”, the project has some major obstacles to overcome first. For example, the current execution of the eUTXO account model appears as though one barricade can facilitate only one swap transaction. At the time of write, the Cardano blockchain operates with a jam time of 20 seconds. One transaction confirmation every 20 seconds is basically unachievable for a protocol hoping to attract mass adoption .
SundaeSwap Labs acknowledges this flaw as an “ abysmal throughput for a decentralized change ”. As such, the visualize promises to focus research and exploitation resources towards scaling solutions that will drastically increase its throughput. additionally, SundaeSwap Labs recognizes the necessity for flexibility and adaptation, admitting that the first implementation would never be the best. In turn, SundaeSwap Labs is planning early on a clear and definitive upgrade path. SundaeSwap Labs promises that both the upgrade path and scaling solutions will be outlined in a future stick out whitepaper .
additionally, the future whitepaper is said to discuss versatile implementations, developments, and fresh mechanisms for future chopine use. This includes mechanisms to offer a junior-grade derivatives market, increase decentralization surrounding fluidity pools, plus offer more centralize liquid. besides, the character of the SUNDAE nominal is expected to receive modern functionality and add utility program.

Exploring SundaeSwap & SUNDAE Token Summary

SundaeSwap uses the automatize market godhead ( AMM ) and decentralized exchange ( DEX ) model with a twist, taking many influences from Uniswap. With plans to launch on the Cardano blockchain upon the Goguen phase implementation, SundaeSwap aims to capture the trades of the emerging market as the leading Cardano DEX. furthermore, as the core merchandise of SundaeSwap Labs, the DEX protocol operates with four tokens within its tokenomics structure. This, of class, includes the native multi-utility SUNDAE nominal .
Introducing a up-to-date account mechanism, the SundaeSwap protocol makes function of the eUTXO model ( “ Extended unspent transaction end product ” ). The eUTXO model expands on Bitcoin ’ s original UTXO model. however, SundaeSwap Labs, as of even, is unable to optimize this for substitute transactions. SundaeSwap has the support and back of multiple investors. Plus, the project has an engaging social residential district following and “ Weekly Technical Progress Updates ” blog posts. Nevertheless, SundaeSwap has however to publish further details surrounding scaling solutions, roadmap updates, or information regarding a future whitepaper .
Do you think SundaeSwap has the electric potential to become the ahead Cardano DEX ? Let us know your thoughts by following us on Twitter @ Academy_IOT ! For readers who would like to dive deep into the world of blockchain, focusing on management rather than development, see our Blockchain Business Masterclass course ! besides, our FinTech 101 course is the arrant stead to discover the emerging regulative compliances surrounding engineering and finance. Plus, a Study Guide is available to all students to discover how to make the most out of the Academy. Start a life-changing career in blockchain today, with Ivan on Tech Academy !

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