SundaeSwap ISO: Easy Complete Guide to Getting Sundae Tokens from the #1 Cardano DEX
November 7, 2021
ADAOZ is now a SundaeSwap ISO stake pool. The SundaeSwap ISO is coming and it's now your chance to start preparing to get your SundaeSwap tokens.
Updated: 23rd Jan 2022
We are now a SundaeSwap ISO pool. You can delegate to ADAOZ and receive SundaeSwap tokens.
Please see the latest announcement in regards to the ISO pools.
SundaeSwap ISO Start Date Announced 20th Jan 2022 Mainnet Launch
The SundaeSwap team have released the details in regards to when the decentralised exchange will launch and when the Initial Stakepool Offering (ISO) will start.
The key dates are as follows.
20th Jan 2022: SundaeSwap DEX Launches on Mainnet
25th Jan 2022: The first snapshot for Sundae token distribution is taken. You must have your ADA delegated to one of the SundaeSwap Scooper pools by this date. 25th Jan 2022 9:45 pm. If you miss this date, you will miss the first distribution round of ADA.
The ISO will continue for another 5 epochs.
Each epoch will distribute 20M Sundae tokens.
The amount of Sundae per ADA will depend on how much ADA is staked for distribution at those snapshots.
If you have not yet chosen a pool to delegate to, now is the time to investigate and determine which pool you will want to delegate to.
After the ISO ends, we invite you to come back to our stake pool.
Watch the Video of the SundaeSwap DEX in Action on Testnet
If you have not yet experienced what it is like to interact with SundaeSwap, this is your chance to familiarise yourself with the DEX on Testnet using test ADA. That way you will be ready and not confused when it comes to launch.
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.
How Many Cardano Stake Pools Will Be Providing the SundaeSwap ISO?
At the time of writing this article, there are 84 stake pools to choose from.
In comparison, MinSwap had 25 stake pools that are offering MinSwap tokens for their delegates that are staked to the partnered MinSwap pools and Meld had 10 stake pools that offered Meld tokens and had over 650M ADA delegated to their pools.
When Will The SundaeSwap ISO Start?
The ISO will start on the 25th of Jan 2022 at 9:45 pm UTC
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?
In total 100M Sundae tokens will be distributed which is 5% of the public tokens.
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. This may change.
Based on the amount that is staked, 1% will be divided amongst all the delegates to the SundaeSwap ISO stake pools.
You will have to interact with a smart contract or a faucet to release your tokens to your wallet.
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.
You can still use Daedalus to stake for your Sundae tokens.
How Do I Vote for a Cardano Stake Pool to Offer SundaeSwap ISO?
The voting period is over for the stake pools and you no longer need to vote for a pool to be in the ISO.
The shortlist of stake pool operators has been finalised and can be found on their website.
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.
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 date has not been announced, you will need to get your ADA and wallets ready.
If you're ADA is on an exchange, you will need to create a new wallet and move that ADA to the wallet.
Are all good choices.
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.
Choose a pool that is on the official list of stake pools.
Delegate your ADA before the snapshot date of the 25th of Jan, 2022.
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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