Cardano DEX SundaeSwap Will Launch Soon, ADA Price Surges

by in Cryptocurrency News

Cardano SundaeSwap

Cardano-based decentralized exchange SundaeSwap, unveiled that it will launch and hold an ISO (Initial Stake Offering) on Jan. 20.

Related: Cardano's Ehereum Converter Is Launched on the Testnet

After the news was announced, Cardano's native token ADA increased in price. It entered the top 5 cryptos again. In the last 24 hours, the ADA price went up by over $11%. In the last 7 days, the price increase was 30.6%. Currently, ADA trades at around $1.5 with a market cap of over $50.9 billion.

SundaeSwap is an Automated Money Market (AMM) DEX allowing users to trade, stake, lend tokens and earn interest.

On Jan. 20, the platform will launch the ISO of its native crypto SUNDAE. The duration of the ISO program will be 25 days and consist of 5 epochs. SundaeSwap will distribute tokens to the platform users in a direct way. Staking in pools, users will receive token airdrops.Currently, ADA trades at around $1.5 with a market cap of over $50.9 billion.

Last month, SundaeSwap went live on a public testnet. The platform’s release is of great importance for Cardano, as it’s the first DEX on the protocol.

Trending: Ethereum developer Afri Schoedon diagnosed with coronavirus

Cardano continues to grow. Lately, Ethereum converter testnet was launched to provide a bridge between the two networks.