Decentralized Exchange SundaeSwap Debuts on Cardano amid Network Congestion

Decentralized Exchange SundaeSwap

SundaeSwap has launched on Cardano in a move that has been characterized by failing transactions.

An influx of enthusiastic users in Cardano’s first dApp caused congestion and errors in what has been termed as normal ‘teething problems.’

Trading on the platform began at 21:45 UTC on January 20 but took two minutes before complaints emerged.

SundaeSwap CEO, Mateen Motavaf, urged users in a 22:07 hours UTC post to be patient, saying that all on-chain orders would be filled.

The network also notes that orders would continue to be settled at the current speed of 2500-11,000 orders per hour on-chain with a slippage tolerance of 1,600.

SundaeSwap is also a staking platform and would be the first decentralized application to use Cardano’s smart contracts.

Cardano unveiled smart contracts after the September Alonzo hard fork, and more than 2,000 smart contracts were deployed within a week.

Cardano’s native token ADA jumped 50% over seven days leading to the launch of SundaeSwap. 

Source: Cointelegraph

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