51
The moment I have been waiting for is here for SundaeSwap ISO Launch! Below I will explain the most important points you need to keep in mind to participate on the SundaeSwap ISO, as well as all the exact details you need to know about the SundaeSwap DEX launch. SundaeSwap is the premier bluechip Cardano based DEX to launch. Think of it as the Uniswap of Cardano blockchain.
Key Dates and Takeaways
Thursday, January 20: SundaeSwap will launch as a fully-functional beta decentralized exchange (DEX).
Tuesday, January 25:The first round of ISO rewards will be calculated. ISO participants must delegate ADA to qualifying ISO Scoopers prior to 21:45 UTC on January 25th to be able to earn SUNDAE for all five ISO rounds. More detail provide later below.
Thursday, January 20: Yield farming SUNDAE rewards begin. Yield farming will be available for at least the first six months of the SundaeSwap DEX, and during this period, LP tokens staked to yield farming contracts in eligible pools can earn additional SUNDAE rewards. I will provide more details below.
The SundaeSwap DEX will go live as a fully-functional beta on Thursday, January 20, 2022. Projects will be allowed to create pools beginning Tuesday, January 18th.
3 Ways to Earn SUNDAE Tokens
Initially, there will be three ways to get free SUNDAE tokens:
Method 1: Participate in the ISO (available during Cardano epochs 316 through 320). Epoch dates 316 is Jan 20th and Epoch 320 is on February 9th. I will explain the exactly ISO 5 rounds cutoff dates below in detail.
Method 2: Earn yield farming rewards (available January through June). After June most likely yield farming rewards will stop or significantly drop.
Method 3: Swap other tokens for SUNDAE on SundaeSwap and other participating DEXs. Just or swapping tokens in Sundaeswap, you will able to earn SundaeSwap tokens as early users of this DEX. This will not be offered for later users.
When is SundaeSwap ISO?
The ISO will begin as well on Thursday, January 20, and will continue for five epochs, with rewards (5% of the total SUNDAE supply, 1% per epoch) being distributed based on the snapshots that will be taken at each epoch boundary.
SundaeSwap ISO 5 Rounds and Cutoff Dates:
To participate in each ISO reward round, you must delegate prior to the follow date and times.
Round 1: January 25th (21:45 UTC)
Round 2: January 30th (21:45 UTC)
Round 3: February 4th (21:45 UTC)
Round 4: February 9th (21:45 UTC)
Round 5: February 14th (21:45 UTC)
As long as you are delegated to an official ISO Scooper (I will provide the Official ISO list below) before the snapshot is taken, your rewards will be calculated for the epoch you staked in.
Official ISO Staking Providers:
Here is the official ISO Staking providers:
WAV7/SKY
CCV (all CCV pools)
DIGI (all DIGI pools)
AZUR, AZUR2, AZUR3 & AZDFM
TERA, TERA2, TERA3
BLOOM (all BLOOM pools)
KIWI/RAMEN
NEDS1, NEDS2, NEDS3, NEDS4
STI, STI2, STI3
FROG, WOLF
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.
How to Participate on SundaeSwap ISO
If you want to make sure you qualify for all five ISO reward rounds, you must have ADA staked with eligible SPOs before 21:45 UTC on January 25th. Your reward will be calculated based on the snapshot taken at that time, and at the same time at each subsequent epoch boundary. Details on where and how you will receive your SUNDAE and how you can check your outstanding rewards will be shared soon.
How to Yield Farm on SundaeSwap
Yield farming is a form of staking used by DEXs to reduce the volatility of their liquidity pools. You can learn more about yield farming on the SundaeSwap help section. 500,000 SUNDAE will be allocated daily over at least the first six months of the DEX’s operation to yield farmers participating in the following liquidity pools:
SUNDAE/ADA
CARDS/ADA
This list of eligible pools will be adjusted by community vote later as the ecosystem grows and stablecoins launch.
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 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. In my example I stake entire 902 ADA. There is a 2.174257 ADA staking fee that will be charge to lock your address to stake on Sundaeswap approved stakers. In one wallet you cannot stake portions to one Staking pool and other portion to a different staking pool. If you want to do that you have to use two different Yoroi wallets and transfer the other portion to that diffrent wallet to be able to do this. You can When SundaeSwap airdrop is live after Jan 20th, 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 last ISO round 5 is complete on February 14th. 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. When staking, I am making daily ADA tokens on top of Sundae token a well. It make it lot sweeter.
Risk vs Rewards:
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. If you enjoy this video on details on how to participate on SundaeSwap ISO, please subscribe and hit the like button show some love. Happy crypto.
