Cardano’s DEX launched its testing phase on Monday. The evolution of SundaeSwap could be crucial to the flourishing of DeFi in Cardano.
The long awaited decentralized exchange (DEX) based on Cardano, SundaeSwap, finally launched its public testnet on Monday.
After experiencing some delays, the team at the exchange Decentralized announced through its Twitter account the launch on December 6. It was expected that the deployment of the tetsnet of SundaeSwap took place on Sunday, but the protocol developers reported that the launch had been delayed due to some bugs.
“And we are live! Thank you all for being patient with us.“Wrote the platform in a tweet where he invited users to test the exchange. The team also encouraged users to find bugs and report them through an official form.
And we’re live! ???? Thank you everyone for staying patient with us 🙂
– SundaeSwap Labs ???? (@SundaeSwap) December 6, 2021
SundaeSwap launches testnet
SundaeSwap, an automated marketplace DEX (AMM) based on the blockchain of Cardano, had been presented to the world for the first time about six months ago, even before the integration of smart contracts in the network was implemented Cardano.
The platform offers services such as exchange (or swapping) of native tokens of Cardano, including ADA. One of its main characteristics is the Constant Product Pool, which makes these exchanges more efficient, while having a different accounting model and virtual machine.
The launch of the testnet has several purposes, including identifying bugs, bottlenecks and unexpected inefficiencies that can arise when using thousands of users. This was announced by the platform in a release.
On the other hand, the testnet also provides an opportunity for the testing team SundaeSwap to provide a “access ramp and training in a low-risk environment for scoopers that the community recently selected to run the network“. ANDThe protocol has entered and chosen scoopers governance. These are nodes that build and then send transactions for all orders in the protocol, making it possible for many users to send transactions at the same time without failing.
As part of the test, users can connect with wallets such as Yoroi or Nami to exchange tokens and experiment with the exchange. SundaeSwap It has not provided a duration schedule for the testnet, but hopes that the experience of users during this testing phase will allow progress towards the official launch.
After the testnet is complete, we will summarize what we have learned and provide a detailed roadmap to launch.
Crucial to Cardano’s DeFi ecosystem
Founded by Mateen Motavaf and Artem Wright, SundaeSwap is one of the most anticipated developments within the ecosystem of Cardano.
The exchange, which began its development in 2021, has great potential to nurture the growth of the decentralized finance (DeFi) space of Cardano. Like platforms like Uniswap became critical to the growth of the DeFi space in Ethereum, or PancakeSwap for the ecosystem of Binance Smart Chain, SundaeSwap can play a crucial role in Cardano.
IOHK, the technology development company behind Cardano, called the exchange’s testnet launch a highly anticipated event that will attract “a lot of interest” and “a lot of activity“.
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
IOHK’s technical team, which has been supporting the exchange for its launch, added that the test is intended to “put the network into high performance“, Which allows the team to monitor and analyze the parameter settings.
He added that congestion and errors are likely to occur on the test network, but said that was a good sign that the platform is getting the necessary traffic volume for the test. He also encouraged users to “ignore the FUD [miedo, incertidumbre y desinformación]”Because errors are expected, some of which were already being reported by testnet users. The firm encouraged users to join its channel Discord to give your opinion on the platform SundaeSwap.
Article by Hannah Estefanía Pérez / Daily bitcoin
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