SundaeSwap, a decentralized exchange, announced today that it has partnered with Cardano project accelerator CardStarter to promote the development and liquidity of the SundaeSwap DEX, which the business plans to launch once smart contract functionality on the Cardano blockchain is released. The agreement will pave the way for the construction of what is presently the largest DEX on the Cardano blockchain in terms of total value locked and community size.
CardStarter’s token, as well as the liquidity of its launched projects, is locked through CardStarter and intended for the DEX of its choice. This TVL is computed by adding together all of the projects’ liquidity, and because these projects will have liquidity established off of Cardano, they will be able to start immediately. CARDS alone has a fraction of the liquidity of the two other ADA native projects with existing mainnet liquidity. All current and future TVL raised through CardStarter’s initial DEX offers will be sent straight to SundaeSwap, where users will be able to swap tokens at the best possible rates thanks to the enormous liquidity available.
Through SundaeSwap, the CardStarter community will have faster access to a smart contract-enabled Cardano DEX. SundaeSwap, according to CardStarter, is the right platform for channeling its accumulated and rising liquidity.
This agreement will allow each organization to concentrate on its core competencies. The SundaeSwap DEX will benefit from the flood of liquidity from the CardStarter community, while CardStarter innovators will benefit from a broad pool of possible investors, and both communities will benefit from the increased stability that comes with more 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.”
In the following weeks, the CardStarter and SundaeSwap teams will share more information about their relationship. To stay up to date on future developments and initiatives, follow SundaeSwap and CardStarter on Twitter.