Sundáeŝwap
SundaeSwap is a decentralized exchange based on the Cardano Network. You will be able to swap, stake, lend, borrow, and more! Democratize Ownership & Profits.
Last updated
SundaeSwap is a decentralized exchange based on the Cardano Network. You will be able to swap, stake, lend, borrow, and more! Democratize Ownership & Profits.
Last updated
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.In return, swappers pay a small fee and liquidity providers earn a return on their deposit. This and future whitepapers will outline an initial product modeled after the protocol popularized by Uniswap, with several innovative adaptations for the Cardano blockchain.
SundaeSwap is a decentralized exchange based on the Cardano Network. You will be able to swap, stake, lend, borrow, and more!
Democratize Ownership & Profits
Deconstruct the walled gardens of classic financial institutions.
Efficient Liquidity
Level up beyond constant product pools and put your capital to work.
A Foundation for a Variety of Services
Attract assets that can empower an ecosystem of financial products.
While the end product and user experience will be very similar, the implementation of this new DEX is quite different. This is because of Cardano’s different accounting model. Unlike Ethereum’s accounting model, Cardano uses eUTXO; an extended implementation of the “unspent transaction output” model from Bitcoin’s network. In this model, custody of assets on the blockchain are tracked as unspent outputs of transactions. These unspent outputs are consumed as inputs into new transactions, which produce more unspent outputs³.
Because of Cardano’s accounting model, implementation of the constant product pool model involves a few modifications from UniSwap’s Ethereum implementation. SundaeSwap has four types of tokens:
$SUNDAE Token
This is the governance token for the protocol.
Global Pool Factory Token
A unique token that will allow the creation of the Asset Pair LP Token and liquidity pools.
Asset Pair LP Tokens
These tokens are locked in a script with the liquidity for that pool.
Tracking Tokens
These tokens are given to liquidity providers to track the portion of the liquidity pool they are entitled to.
Within the protocol, there are four types of transactions that can be executed:
Create a liquidity pool
Swap tokens
Deposit liquidity
Withdraw liquidity
I will now briefly discuss each of these transactions and how they are implemented in the eUTXO model.
