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SundaeSwap is a decentralized exchange built for the Cardano blockchain. It allows participants of the blockchain to provide liquidity and create a market for others to exchange their native tokens.

SundaeSwap is a decentralized trading protocol that will run natively on Cardano (ADA). The DEX is the first of its kind on the Cardano blockchain.

For those unaware, Cardano is a next-generation blockchain that runs on technology that differs from Ethereum and its smart contracts. The network has long been a mainstay of the market, but its steady and methodical approach to development has only just resulted in several major updates.

Those updates include the introduction of smart contracts. As such, a native, scalable decentralized exchange, SundaeSwap has a perfect place for it in the ecosystem.

Built on a next-generation blockchain, SundaeSwap has some unique design elements to address. But in a nutshell, SundaeSwap is an automated market maker that, in its early form, will serve as something like Uniswap for the Cardano blockchain.

An introduction to SundaeSwap

SundaeSwap began its development in 2021 and has been gaining steam since. While it initially met with enthusiasm from the Cardano community, it has only recently begun to gain the attention of those outside that group. The team appears to be following the same development philosophy as Cardano itself, namely that it is taking a measured and methodical approach.

SundaeSwap was founded by Mateen Motavaf and Artem Wright, who respectively serve as the Chief Executive Officer and Chief Operating Officer. Currently, the team is composed of ten individuals who have several years of experience in fintech and high-tech startups.

The whitepaper for SundaeSwap was published on Jun. 1, 2021, which went over the fundamentals of the protocol. One of the more novel ideas of the project is its Initial Stake Pool Offering (ISO), which will determine how the SUNDAE token is distributed to its participants. The ISO has been delayed but is expected to take place in the coming weeks.