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SundaeSwap is an innovative decentralized finance protocol that was launched in early January 2022. As an important and widely anticipated addition to the Cardano (ADA) platform, the hype behind the development of SundaeSwap rallied ADA prices, thanks to high expectations and interest. The price of ADA, the native token of the Cardano platform, increased sharply due to excitement and anticipation of the new Cardano DEX and the initial stakepool offering (ISO).
Using community governance, SundaeSwap carried out a Reverse ISO to ensure fairness among the staking pools. That said, for Cardano and DeFi beginners, you’re probably wondering what is SundaeSwap, as well as the tokenomics of SUNDAE, the governance token for SundaeSwap.
This article will cover the ISO and the startup phase obstacles, and we’ll review the SundaeSwap Reverse ISO. In addition, we’ll assess the SundaeSwap token and explore if SUNDAE is a good investment.
SundaeSwap is a decentralized exchange (DEX) operating on the Cardano blockchain, and is a scalable exchange protocol with automatic liquidity provision. Thanks to its native and scalable nature, the decentralized exchange has proven to become widely popular among the Cardano community.