The highly-anticipated SundaeSwap DEX just dropped some huge news for Cardano investors. Covered: SundaeSwap Testnet Cardano Outlook SundaeSwap is one of the top contenders among upcoming Cardano decentralized exchanges (DEXs). The latest update from the SundaeSwap team is bringing decentralized finance (DeFi) one step closer to the Cardano (ADA) network. RECOMMENDED: THREE UPCOMING DEXS ON […] The post SundaeSwap Testnet Ready To Go Live — Here’s When It Launches appeared first on CryptosRus.

SundaeSwap Testnet Ready To Go Live — Here’s When It Launches

The highly-anticipated SundaeSwap DEX just dropped some huge news for Cardano investors.

Covered:

  • SundaeSwap Testnet
  • Cardano Outlook

SundaeSwap is one of the top contenders among upcoming Cardano decentralized exchanges (DEXs). The latest update from the SundaeSwap team is bringing decentralized finance (DeFi) one step closer to the Cardano (ADA) network.

RECOMMENDED: THREE UPCOMING DEXS ON CARDANO TO KEEP ON YOUR RADAR

SundaeSwap Testnet

According to the team’s latest announcement, SundaeSwap is officially launching its testnet on the evening of Sunday, December 5th. The testnet is reportedly going live for three primary reasons. 

First, the team wants to identify any bugs that come from being used by thousands of users with fresh eyes, as opposed to developers and auditors who’ve been working on it for months.

Second, the testnet provides an opportunity for the SundaeSwap team to provide an easy on-ramp and training in a low-risk environment for the “scoopers” that the community recently selected to run the network. Scoopers are the stake pool operators that help batch and process transactions on the DEX. To start, the SundaeSwap team will start with the network running on its own nodes, and then they will slowly bring the scoopers online, training them on the software and transitioning the protocol to being entirely run by them.

Finally, the testnet will serve to identify unexpected bottlenecks and inefficiencies that are crucial to patch prior to launch.

RECOMMENDED: SUNDAESWAP DEX PROCESSES FIRST TRANSACTION

Cardano Outlook After SundaeSwap Testnet

If you aren’t familiar with Cardano, it is a smart contract blockchain that seeks to bring DeFi products and services. It’s the first peer-reviewed blockchain in the world, meaning that instead of just publishing a white paper like other networks, Cardano’s papers are all reviewed by experts from around the world, who read them, improve them and agree with the outcome.  

Cardano has been gaining real-world traction ever since its Goguen launch in March of this year. Since the release of smart contracts back in September, crypto analytics company Coin98 highlights the rapid growth of the ADA ecosystem.                                                                         

Ever since the launch of smart contracts, however, the token has gone relatively stagnant in terms of price, as investors patiently wait for more DeFi applications to gain traction on the network. Recently, however, an NFT on the network sold for 510,000 ADA, worth $805,800, indicating that the demand for Cardano DeFi may finally be picking up steam.

The news of SundaeSwap’s testnet brings Cardano one step closer to a crucial part of its future success: a fully-functioning decentralized exchange.

The post SundaeSwap Testnet Ready To Go Live — Here’s When It Launches appeared first on CryptosRus.