Cardano’s SundaeSwap DEX is ready to be launched to public testnet according to the announcement that IOHK made, so let’s find out more in our latest Cardano news.
Input-Output Hong Kong or IOHK announced that SundaeSwap DEX was launching imminently as a testnet and added that it anticipates a growing interest in Cardano’s major DEX ambitions:
“We’re expecting a huge amount of interest in this highly-anticipated event, and lots of activity. This is why we are collaborating.”
There have already been some issues at the start with a few bugs that delayed the launch from Sunday to Monday. The launch is a testnet but there are a few steps to take in order to participate. Using a third-party wallet like Nami is required to connect to the faucet and obtain testnet tokens to experiment with. The announcement didn’t mention how long the testing will be running or the mainnet launch date. Cardano’s SundaeSwap is a scalable DEX and automated liquidity provision protocol that enabled native token and ADA exchanges having a whitepaper released in June.
Might have to rebrand to MondaeSwap😅…
In all seriousness, we've found a bug with our scoopers renewing scooper licenses.
We are cleaning that up, and as soon as it's completed testnet will be live for use. Thank you for staying patient with us!
— SundaeSwap Labs 🍨 (@SundaeSwap) December 6, 2021
IOHK stated that the test is intended to put the network under high throughput and to enable the team to monitor and analyze parameter settings. Cardano sets the network parameters like block size, CPU limit, memory limit, and more while the testing begins. It added that the users will expect more congestion and bugs which shows that it is getting the traffic volume needed for assessment:
“Remember this is early DApp software, and it’s still early days for DeFi on Cardano. Testnets are a key part of iterating & improving the experience.”
Cardano outlined a slow and steady approach for Dapps, Defi, and smart contracts that have made it a target for plenty of criticism from the crypto community. However, it claims to be able to compete with it and possibly surpass Ethereum. IOHK said that users should ignore the FUD because there will be bugs that are already reported by the testnet users. The company encouraged users to join the Discord channel to give feedback on the SundaeSwap platform. Cardano’s native token ADA fell in tandem with the rest of the market over the weekend and got no momentum from the DEX launch.
Later today, @SundaeSwap will launch their DEX on the #Cardano TestNet launch. We’re expecting a huge amount of interest in this highly-anticipated event, and lots of activity. This is why we are collaborating. Because we're looking to learn a lot, too.
— Input Output (@InputOutputHK) December 5, 2021
At the time of writing, ADA was trading at $1.4 dropping another 3% on the day. The token lost 15% over the past seven days and dumped about 55% since September 9 at an all-time high of $3.03.
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