Cardano DEX SundaeSwap is living up to the hype. Mere weeks since launching its mainnet the DEX has passed an important milestone in total-value-locked (TVL).
SundaeSwap Reaches TVL Milestone
According to DeFi Llama, Cardano DEX SundaeSwap is officially over 100 million in Total value locked (TVL). This, despite the DEX having issues with transaction speeds — which it warned its users of.
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- The warnings, it appears, didn’t dissuade users entirely of migrating their funds to the go-to DEX on Cardano. As of February 8th, SundaeSwap had captured 95% of the Cardano DeFi market.
- More impressively, SundaeSwap TVL had stayed fairly stable over the course of the last two tumultuous days crypto-wise. The market had dropped significantly thanks to a mix of of things including the Russia/Ukraine tension.
- SundaeSwap also dropped a bit of news — on a Sunday no less — regarding their plans for decentralization. Using what they call the “Reverse ISO Proposal”, the DEX plans to achieve the decentralization Cardano is currently lacking before it reaches its Voltaire part of the roadmap.
- “SundaeSwap is committed to supporting genuine decentralization in all aspects of the DEX operation. Owning SUNDAE is not just a badge of membership in a community; it is the governance token for the SundaeSwap DAO that will launch this summer when the Cardano parameters allow,” SundaeSwap said via their blog.
- Voting for the proposal is underway.
- The SundaeSwap/Cardstarter feud is still looming over the Cardano community, even weeks after the drama first surfaced. Cardano CEO and founder Charles Hoskinson has recommended arbitration.
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