SundaeSwap ISO: Easy Complete Guide to Getting Sundae Tokens from the #1 Cardano DEX
November 7, 2021
SundaeSwap ISO is coming and it's now your chance to start preparing to get your SundaeSwap tokens.
UPDATE 15th Nov: SundaeSwap ISO Voting is now open!
Here is a video guide on how to vote for your fav trusted stake pool to host the SundaeSwap ISO. We would love your support and vote for team #ADAOZ.
New Update on SundaeSwap ISO
How to Vote in the SundaeSwap ISO
How to Vote in SundaeSwap ISO with Yoroi
Total Time:5 minutes
Open Your Yoroi Wallet
Open your wallet from your browser extension or from your mobile app and click on RECEIVE
Obtain a Receiving Address
Copy a Base External wallet address by clicking on the COPY icon in the input box labelled "Your wallet address".
Send to Your Own Wallet
Click on the SEND menu item and paste in your copied wallet address to the Reciever field.
For the amount, enter in 2.207000. This is important that the number is correct.
The wallet will add in a little extra for the transaction fee.
Sign and Submit the Transaction
Sign and submit the transaction by typing in your sending password. Double-check that the amount being sent is correct! 2.207000
You've not successfully submitted the transaction to the blockchain.
Check Your Vote
Click on the Transactions menu item.
Your transaction might not appear right away and you may need to refresh the screen.
Expand the details of the transaction. You will see only the fee is taken but also the amount further down which is your vote amount.
You have successfully voted and verified your vote!
Yoroi browser extension wallet
Yoroi mobile app
Daedalus desktop wallet app
Yoroi Browser Extension or Mobile app
About the SundaeSwap ISO
SundaeSwap is one of the promising decentralised exchanges that is launching on the Cardano blockchain. Having expressed their solutions and critical thinking behind what is required to create a DEX that works on a UTXO based blockchain, we're positive that SundaeSwap will be one of the top-performing DEXes on Cardano.
With the final pieces coming online, such as the Plutus Application Backend (PAB), for Cardano smart contracts to be fully operational for various decentralised finance solutions and decentralised exchanges (DEX) we'll see DEXes such as SundaeSwap finally start their Initial Stake Offering to start distributing their DEX protocol tokens.
There has been much anticipation for the SundaeSwap ISO and the details for the solution for their DEX have been announced along with all the details around their ISO so you can get your SundaeSwap tokens.
This blog post will answer everything you need to know about how to get SundaeSwap tokens, what they are for and everything you need to do to prepare for the upcoming SundaeSwap ISO.
The current process of stake pool selection has just started.
Stake pools from the Cardano community have been asked to apply for the process and are shortlisted.
Once the shortlist has been published, ADA holders will vote on which stake pools will run the SundaeSwap ISO.
How Do I Vote for a Cardano Stake Pool to Offer SundaeSwap ISO?
Once the shortlist has been confirmed, the SundaeSwap team will create a dashboard where ADA holders can vote on which pool they want to have as the final stake pools to offer the ISO.
The voting power of a delegate will depend on the amount of ADA in their wallet balance. The more ADA that is in one's balance, the more voting power they will have to select which pools are chosen. This is to stop Sybil attacks on the voting process.
In the future, the SundaeSwap token holders will be the ones voting on pools and other decisions which will dictate the future of the decentralised exchange.
How Many Cardano Stake Pools Will Be Providing the SundaeSwap ISO?
At this point in time, there isn't a clear number of how many stake pools will be selected for the Initial Stake Pool Offering event.
MinSwap currently has 25 stake pools that are offering MinSwap tokens for their delegates that are staked to the partnered MinSwap pools.
When Will The SundaeSwap ISO Start?
The team currently don't have an exact date as to when they will start the ISO but it will start when the Decentralised Exchange is launched.
The two events will happen at the same time.
How Long Will the SundaeSwap ISO last for?
The SundaeSwap ISO will last for 25 days over 5 epochs.
Afterwhich the pools that are offering the ISO rewards will simply be supplying the SundaeScooper rewards, rewards specific to running the code required to operate and decentralise their decentralised exchange.
How Much SundaeSwap Tokens Will Be Distributed in the ISO?
5% of the public tokens will be distributed to the delegates that stake for the SundaeSwap ISO.
1% being distributed every epoch (5 days) for 5 epochs (total 25 days).
When Will I Get My SundaeSwap Tokens?
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.
What is the Tokenonics of the SundaeSwap project?
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).
SUNDAE Allocation 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.
How Do I Swap ADA for SundaeSwap Token?
Unlike other stake pool offering events such as Meld's ISPO, you will not negate your ADA rewards for SundaeSwap tokens.
Instead, you will freely get distributed the SundaeSwap tokens and your ADA rewards for staking to a Cardano stake pool.
How Much is a SundaeSwap Token Worth?
How much is a Sundae token worth? This is anyone's guess. As there is no price set to the token and the token is a utility & governance token.
After launch, the market will determine the price based on the supply and demand of the token on the open markets.
Will Whales Get All the SundaeSwap Tokens?
The distribution of the tokens is mathematically geared in a way to not favour large wallets. If you were to stake millions of ADA to a SundaeSwap stake pool, you will get fewer Sundae tokens per ADA than a small wallet with server thousands of ADA would.
This helps with a fair distribution of tokens to the community. It is a similar model that is used by MinSwap in their FISO and Mirqur in their token distribution.
What Is the Minimum Amount to Stake to Get SundaeSwap ISO tokens
Other wallets to be confirmed but have been mentioned: - CCVault (formerly CCWallet, Brower wallet) - GeroWallet (Browser/Web3 wallet)
You can read our guide to Cardano wallets to get an understanding of what wallet might be suitable for you.
As long as you choose a wallet that allows for staking, you will be able to stake to the appropriate pool for the duration of the SundaSwap ISO.
Can US Citizens Participate in the SundaeSwap ISO?
Yes, they can, as the token is not a swap of your ADA rewards for Sundae tokens. You are simply getting Sundae tokens for free while staking to a stake pool to earn your regular Cardano ADA rewards.
Can I Use Daedalus on the Upcoming SundaeSwap Decentralised Exchange?
No, you can't. Daedalus is a full node wallet which is an application that will run on your computer.
You will need a web3 browser-based wallet such as Nami or the new Yoroi wallet. This will allow you to interact with the website decentralised application and your wallet at the same time. More information will be available soon.
Do You Get Rewards for Voting in the ISO
No, you don't, you just get to know that your fav pool operator may get voted for!
What Can You Do to Get Ready for the SundaeSwap ISO?
Since the SundaeSwap ISO hasn't started yet, there is plenty of time to get ready for the event.
You will need to ensure you have your ADA in a Cardano native wallet. ADA that is in an exchange will not be eligible for this event.
Set up a Cardano native wallet
Move your ADA from an exchange to your wallet. If you're ADA is locked in a staking period you won't be able to, but hopefully it will unlock before the SundaeSwap ISO starts.
Start delegating to a pool and earn some rewards while we wait for the official list of SundaeSwap pools. Consider ADAOZ, we're good 🙂
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 ADA deposit is refundable when you decide to de-register your wallet from staking.
At this point, your wallet will be ready to go and delegate to a SundaeSwap ISO pool as soon as the SundaeSwap ISO starts.
As soon as the list of stake pools for SundaeSwap have been shortlisted, you will need to vote on your favourite and trustworthy pool. These pools will become the ISO pools for SundaeSwap and the SundaeSwap Scoopers for the DEX.
We're a small, independent single stake pool operator. We've got a long way to go before we are completely self-sufficient and continuously producing blocks for the community. Our stake pool infrastructure costs money and time to support. Search for us with ticker: ADAOZ.
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