Greenbrae, California, July 2, 2021 — Decentralized exchange SundaeSwap announced today that it entered into a collaboration with Cardano project accelerator CardStarter to support the development and liquidity of the SundaeSwap DEX, which the company intends to launch upon the release of smart contract capabilities on the Cardano blockchain. The agreement will enable the creation of what is currently positioned to be the largest DEX on the Cardano blockchain in terms of both total value locked and community size.
CardStarter’s token, CARDS, and the liquidity of its launched projects are locked through CardStarter and meant for the DEX of its choosing. This TVL can be calculated by measuring the sum of all said projects’ liquidity, and as these projects will have liquidity established off Cardano (ADA), they will therefore be able to commence without delay. The only other ADA native projects with existing liquidity on the mainnet have a fraction of the liquidity of CARDS alone. All current and future TVL raised from CardStarter’s initial DEX offerings will be directly funneled to SundaeSwap, where users will be able to swap tokens directly with the most favorable conditions given the significant liquidity provided.
The agreement will accelerate the CardStarter community’s access to a smart contract-enabled Cardano DEX through SundaeSwap. CardStarter views SundaeSwap to be the ideal platform to channel its amassed and growing liquidity.
This collaboration will let each company focus on its core expertise. The SundaeSwap DEX will benefit from the influx of liquidity from the CardStarter community while CardStarter innovators will enjoy the benefits of a large pool of potential investors, and both communities will benefit from the added stability that comes with greater liquidity.
“CardStarter was the first — and continues to be the best — launchpad for Cardano innovators, and its community is a perfect fit for SundaeSwap’s DEX,” said Mateen Motavaf, CEO of SundaeSwap, adding, “CardStarter proved its leadership in empowering Cardano entrepreneurs and investors early on, and we’re very pleased to be able to combine forces to make our DEX launch as successful as possible.”
“The backing and community enthusiasm that SundaeSwap has developed is incomparable in the space and we are excited for our incubated project liquidity providers to be adopted into this future combined ecosystem,” said Aatash Amir, CEO of CardStarter, adding, “The SundaeSwap team has exhibited its technical expertise to us, and we are confident of SundaeSwap’s ability to deliver the best product to market.”
The CardStarter and SundaeSwap teams will release further details regarding this collaboration in the coming weeks. Make sure to follow SundaeSwap and CardStarter on Twitter to learn more about any future developments and plans.
CardStarter is the first and largest insured project accelerator for projects launching on the Cardano blockchain. CardStarter’s launchpad connects early-stage Cardano innovators and projects with a community of donors through early access and guaranteed allocation to seed rounds, presales and private sales of Cardano projects. CardStarter supports new and innovative companies, helping connect them with legal, technical and financial services, as well as allowing accredited investors to get involved.
SundaeSwap is a DEX currently in development for the Cardano blockchain. It allows participants of the blockchain to provide liquidity and create a market for others to exchange their native tokens. In return, swappers pay a small fee and liquidity providers earn a return on their deposit. Cardano is a third-generation blockchain noted for its transactional efficiency, relatively low environmental footprint and peer-reviewed secure technology. The SundaeSwap DEX is anticipated to be released following the Alonzo hard fork, where smart contracts will be functional on the main Cardano blockchain. SundaeSwap is developed by SundaeSwap Labs, a Wyoming corporation.