Cardano is a decentralized exchange and automated liquidity provisioning protocol built on the blockchain. SundaeSwap was founded by Mateen Motavaf and Artem Wright, who served as Chief Executive Officer and Chief Operating Officer.
SundaeSwap is a DEX that works using an Automated Market Maker (AMM) algorithm combined with Fixed Product Liquidity Pools that helps minimize price drift in low liquidity pools.
Trading primarily as a software company, SundaeSwap Labs’ mission is to ‘Deliver economic empowerment for all’. The SundaeSwap team is developing a suite of peer-to-peer tools that facilitate the use of cryptocurrencies. Therefore, the first product released and the heart of SundaeSwap Labs development plan is the SundaeSwap Cardano DEX.
SundaeSwap is a decentralized exchange protocol built on the Cardano Network that allows native token and ADA exchange for everyone. With this protocol, users can trade, bet, borrow, borrow and much more in a decentralized manner. It has a simple user interface. It is easy to understand and use by anyone.
SundaeSwap is Uniswap for Cardano in its current form. Also, as an automatic market maker, it has liquidity pools where liquidity providers allocate two assets. These liquidity providers receive LP tokens for their liquidity contribution. Where SundaeSwap differs is that it uses a ‘Fixed Item Pool’ model which improves the efficiency of trading.
Let’s talk about the features of the SUNDAE coin. The first benefit of SUNDAE coin is that it provides convenience in transaction fees. Users will be able to reduce transaction fees, thereby reducing the overhead associated with large transactions. Another feature is to facilitate the governance rights of the platform to the users. SUNDAE coin holders will be able to participate in on-chain voting mechanisms surrounding protocol updates. Also, SUNDAE coin holders who participate in governance updates will receive SUNDAE coin rewards.
