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What is SundaeSwap?

RESOURCES

SundaeSwap is a decentralized exchange based on the Cardano Network. You will be able to swap and stake tokens, participate in their lottery system, buy NFTs, and much more!  

Why Cardano?

This is a somewhat loaded question, but in simple terms Cardano is faster and cheaper than the alternative smart contract platforms. It also is run by a non-profit foundation and regularly collaborates with high profile academic institutions. All in all it is more advanced and a better option for future projects to be built upon.

What is an Initial Stakepool Offering(ISO)?

Instead of a formal IDO or ICO, SundaeSwap has decided to take a more unconventional route and host an ISO, short for an Initial Stakepool Offering. Users will be able to stake their ADA in SundaeSwap's pool, receive ADA as a staking reward and also be gifted SUNDAE tokens, which will be released on Cardano from the start. This route allows a safe way for SundaeSwap supporters to receive SUNDAE, while the SPO also receives rewards which will be used for further funding of this project.

Guide to staking Cardano to earn SundaeSwap

First and foremost, you'll need to already own Cardano($ADA).  If you need to purchase Cardano, I recommend using Binance.US since they have by far the cheapest trading and transfer fees.  Sign up for a free Binance.US here. 

Below is the simplest video I could find that will walk you through the process of staking Cardano.  Please note, the SundaeSwap Stakepool name will not be released until June 1st. 

Video credit: Jack Ingram Crypto 

Install Yoroi Wallet

  • On desktop, go here to install the Yoroi wallet chrome extension.

  • On mobile, download the Yoroi wallet app (I recommend this option, a lot fewer setup steps needed)

Create your Yoroi Wallet

  • Click create wallet, setup wallet name, create a password and record your recovery phrase

Transfer ADA to Yoroi 

  • Use the new wallet's address to transfer your ADA coins from the wallet that currently holds them

Delegating/Stake ADA on Yoroi to a Stake Pool

  • From the Yoroi wallet app, click on the "Delegate List" menu across the top

  • Search for the SundaeSwap stakepool and click "Delegate" 

  • **(The SundaeSwap stakepool name will not be released until June 1st)**