Through the course of this article, we will understand all about the Sundaeswap Decentralized Exchange, its token, and how to use this DEX platform.
Since the introduction of cryptocurrency in the digital space, there has been an incredible need for massive decentralization, which has become the norm for many transactions.
This innovation is one of the many features which the blockchain industry introduces to the world of finance and trades, making it easy for crypto users and investors to have total control over their finances.
The decentralization of transactions means direct elimination of third-party institutions and organizations like the banks whose goal is to handle the transaction of users, but with the decentralization comes the total control is given to crypto users and investors in the financial market.
The SUNDAE token and crypto platform have grown significantly since its launch. It has attracted the attention of many investors and crypto users, thereby increasing its number of users and holders and also increasing the token’s worth and value.
What is SundaeSwap?
The SundaeSwap is a native exchange protocol that is completely decentralized, allowing exchanges involving the Cardano ADA with other cryptocurrencies in the coin market.
The official token of the SundaeSwap platform is the SUNDAE coin which is the native token for the exchange protocol.
Here is some basic information as regards the SundaeSwap protocol and token important for crypto users and investors to understand:
- The SundaeSwap is a scalable decentralized and native protocol that thrives with the automated liquidity provision protocol.
- With the SundaeSwap protocol, users will be able to swap, stake, lend and even borrow in the blockchain space, which is truly the revolutionary goal of the blockchain industry – Decentralization.
- The SundaeSwap protocol enables users and investors to use the platform to carry it exchanges and transactions involving the Cardano ADA. It is the first Decentralized Exchange DEX on the Cardano mainnet.
- This makes it similar to other strong crypto exchange platforms like PancakeSwap, Uniswap, SushiSwap, and a host of other strong Decentralized Exchanges in the coin market.
This basic information about the SundaeSwap crypto exchange and tokens is important for interested crypto users and investors to understand.
Market Capitalization and Tokenomics of the SundaeSwap Token
The tokenomics of nay crypto token in the coin market is as vital as the token itself. This determines some key features regarding this coin which ultimately determine the token’s movement and growth in t crypto space.
The tokenomics of a token refers to the distribution, staking, liquidity, and burn off such crypto-token in the crypto market, helping investors the intricate skeleton of such token.
Here are the tokenomics of the SundaeSwap token:
- There is a total supply of 2 Billion SundaeSwap tokens in the coin market, of which 55% of this total supply will go to the public, and 5% go to the Initial Stake Pool Offering ISO.
- Another 25% of the whole coin supply is allocated to the team behind the token’s creation, and another 13% is allocated to investors on the SundaeSwap crypto platform.
- It is important to note that the SundaeSwap token will be distributed to users through the Initial Staking Pool Offering, allowing users to earn additional rewards for providing some sort of liquidity to XX/SudaeSwap token pair at launch.
- 5% of the token goes to Future Hires, and another 2% goes to advisors of the SundaeSwap project.
This is the tokenomics of the SundaeSwap crypto important for all crypto users and investors to understand.
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Step-by-Step guide on How to Use the SundaeSwap Exchange Protocol
The SundaeSwap protocol allows users to make exchanges connected with Cardano crypto ADA, helping carry out fully decentralized exchanges in the process.
Here is a step-by-step guide on how to use the SundaeSwap protocol to make exchanges on the coin market:
- Once the user has connected their wallet to the SundaeSwap protocol, they can easily swap tokens.
- It is important to note that the user must have enough Cardano coin in the wallet before embarking on any exchange on the SundaeSwap protocol since this is the official payment coin for all transaction and network fees charged by the blockchain transaction.
- On the Decentralized exchange platform, the user can select what is needed for the swap, such as Cardano ADA, and then select the token of choice that the user wants to receive. Users can also search for the desired token to be received using the Symbol, name, or the Policy ID, of the desired token.
- Key in the amount of Cardano ADA that the user wants to use for the transaction, which is dependent on the user’s choice.
- This will, in turn, show the number of the desired token that will be gotten once the transaction is processed, giving the user the knowledge of how many tokens they will get.
- Once done, it is time for the user to re-evaluate their order and check the swap they want to carry out. This will give them a run-down of all necessary charges on the transaction and the number of expected tokens which the user will get once the transaction is finalized.
- Suppose users are satisfied with the information displayed. In that case, users can go ahead to click the “Order Now” button to continue with the transaction and purchase the desired coin of their choice on the SundaeSwap exchange protocol with ease.
This step-by-step guide will help users purchase any token of their choice on the SundaeSwap crypto platform, helping users transact with no hassles whatsoever.
Is the SundaeSwap Coin a Good Crypto Investment?
Given the dynamism which the crypto and blockchain industry presents to users and investors worldwide, it is no surprise that many decentralized exchanges and dApps have been introduced into the crypto market.
The SundaeSwap is another native exchange protocol that facilitates and democratizes decentralization in the crypto space; the Sundaeswap exchange platform makes it easier for crypto users and investors to exchange tokens on the Cardano mainnet, making it an essential crypto exchange platform.
With SUNDAE token being the official token of the platform, the token shows significant prospects. It has been listed on the watch list of many crypto users and investors in the coin market.
Crypto users and investors must understand all about any token and platform they choose for their investment. This will help them make the best investment decision, thereby maximizing profit in the long run.
What are your thoughts and ideas on the SundaeSwap Exchange Protocol and its official token SUNDAE? Share your opinion using the comment section.