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I will show you how join the SundaeSwap Initial Stake Offering (ISO). For this you need minimum of 12 ADA. There is no risk is associate staking ADA. Pools pay 5% rewards in ADA for staking on top of SundaeSwap SUNDAE tokens. SundaeSwap ISO will last for 25 days over 5 epochs. One epoch is 5 days.
Buying ADA from Centralized Exchange
First you need to buy ADA from any centralized exchange. You can buy from Binance.com (Non US users) and Binance.US for US users. I used my Binance.US account to buy my ADA. I used Bitcoin balance to buy ADA. Binance.US charges 0.1000% if you do not have BNB tokens for fee. I will provide link to Binance.com and Binance.US exchange links below. If you have BNB tokens fees are 0.075% for limit orders. After you have completed the purchase of ADA, you need to withdraw to self hosted ADA wallets. I use Yoroi wallet. I used Yoroi wallet with Chrome extension. If you do not know how to setup Yoroi wallet for Cardano, I will provide a link below. You can use daedalus wallet. Daedalus wallet download full ADA blockchain to sync your wallet address. Yoroi wallet does not download the full ADA blockchain to sync your wallet address. I my case, I send my ADA to my Yoroi wallet address. I copied my Yoroi wallet address and paste it into my BINANCE ADA withdrawal tab. I have to enter Binance 2 factor authentication password and confirm my withdrawal from my email address to invitiate the withdrawal. My funds appreared on my Yoroi wallet address in 5 minutes. Much faster compared to Bitcoin and ETH blockchain.
SundaeSwap Officially Approved ISO staking Pools
SundaeSwap has selected trustworthy cohort of SPOs to help dish out SundaeSwap goodness during the Initial Staking Pool Offering (ISO). Here is the list of SundaeSwap selected list after strong community participation after community voted on Stake Pool Operator (SPO).
SundaeSwap Approved Staking Pools:
WAV7/SKY
KIWI/RAMEN
SPO Waitlist:
Although this list is just for the ISO, the SundaeSwap DEX will use SPOs to operate scoopers and the community will set the terms as to numbers, requirements and rewards through the SundaeSwap DAO. They have selected small single pool operators to those representing the large international Cardano community.
SundaeSwap ISO Staking
What you need to do join the ISO is to stake ADA on any of SPO list that SundaeSwap tokens. You need minimum of 10 ADA tokens on your Yoroi wallet to inorder to stake tokens. Yoroi is consider METAMASK for Cardano. After you setup Yoroi wallet, send your Cardano from centralized exchange into this wallet. You need 10 ADA in your wallet to be able to stake Cardano on SundaeSwap approved ISO to earn SundaeSwap airdrops. Go to the Deletegation List. I was able to find SIPO pool. Select the amount you want to stake. There is a 2.174257 ADA staking fee that will be charge to lock your address to stake on Sundaeswap approved stakers. When SundaeSwap airdrop is live begining of 2022, you will get SundaeSwap token airdrop on this address. Remember you tokens must be locked until the airdrop to get qualified. Do not withdraw this token until the airdrop. When you withdraw token from staking pool I believe you get initial 2 ADA staking fee back. What does registering your wallet mean? If it is your first time registering a wallet, you will have to pay a 2 ADA deposit to register your wallet on chain. This 2.174257 ADA deposit is refundable when you decide to de-register your wallet from staking. According to their latest post about the SundaeSwap ISO, the minimum amount of ADA allowed to stake is 10 ADA.
At this point, your wallet will be ready to go and delegate to a SundaeSwap ISO pool as soon as the SundaeSwap ISO starts.
Sundaeswap Tokenomics
SUNDAE Allocation is 2 Billion SUNDAE tokens will be minted at the inception of the DEX and will become available slowly over a period of time as the protocol matures. 55% of the SUNDAE supply will go to the public with 5% of the total supply distributed to Initial Stake Pool Offering (ISO) participants among 5 epochs (1% every epoch).
At this moment, the team have decided to distribute SundaeSwap tokens at the end of every epoch.
Based on the amount that is staked, 1% will be divided amongst all the delegates to the SundaeSwap ISO stake pools.
The SundaeSwap ISO will last for 25 days over 5 epochs. SundaeSwap ISO Start at the same time as the Decentralised Exchange is launched. For those dates visit the official SundaeSwap website -- link provided below.
In Conclusion
In Staking for SundaeSwap tokens, I wanted to Stake to Wave7 Pool. The winner. However, I am getting a warning saying I pool is saturated at 101%. So I decided to delegate to other pool in the approved list I mentioned above. I staked my entire 904 ADA tokens. I paid 2.17 ADA tokens as staking deposit fee that I will able to get back later. During the staking it said I will be earning 0.67 ADA every epoch which is 5 days. That is not bad on top of SundaeSwap tokens I will get at the end.
I love your comments and opinions about Sundaeswap. Comments on down below. I want to hear from you on what other topics you want me to cover.
