Sundaeswap is the first Cardano-based decentralized exchange (DEX). This finance protocol was launched in the public Mainnet on January 20, 2022.
The SundaeSwap ecosystem will have a total of 2 billion utility tokens called SUNDAE tokens. The SUNDAE tokens will be used for Governance, Profit Sharing, Reduced Fees, etc. and will be allocated as follows in order of largest to smallest:
Public: 55% (1,100,000,000 tokens)
Team: 25% (500,000,000 tokens)
Investors: 13% (260,000,000 tokens)
Future Hires: 5% (100,000,000 tokens)
Advisors: 2% (40,000,000 tokens)
What is ISO? ISO stands for Initial Stake Offering. The SundaeSwap ISO is a distribution event that will take place during Cardano epochs 316 through 320 (January 25, 2022 at 21:45 UTC through February 14, 2022 at 21:45 UTC) where 5% of the total SUNDAE token supply will be distributed to any participant who staked with any SundaeSwap ISO pools listed in SundaeSwap ISO pools.
On February 7, 2022, SundaeSwap announced on Twitter that delegates will receive $SUNDAE tokens on March 1, 2022!
NOTE: We’ll be providing a service ourselves in the coming months for people to claim rewards without paying the DripDropz fee.
— SundaeSwap Labs 🍨 (@SundaeSwap) February 7, 2022
You will have one year to claim rewards, so there is no rush. 🍨
How to use DripDropz?
Claiming your SUNDAE rewards from the ISO via DripDropz is as simple as following these five steps:
Step 1. Go to the DripDropz site https://dripdropz.io/ under the Drip it tab.
Step 2. Paste your wallet receive/stake address in the search bar and click the Check My Dropz button.
DripDropz will query the blockchain and display all the tokens your wallet is qualified to receive based on the amount of Ada in your wallet and the pool it is staked to.
Step 3. Choose the SUNDAE token by selecting the checkbox.
Click Claim My Dropz. The app will show the Ada cost to complete the withdrawal along with minUTXO returned to you with the tokens. See below cost breakdown.
When claiming your ISO rewards, you will be asked to send a payment of 3 ADA:
- Approximately 1.3 â‚łDA will be returned to you (to cover the minUTXO)
- The remaining 1.7 â‚łDA will be used to pay the Cardano transaction fee + Phyrhose processing fee + DripDropz service fee
How to find the ADA handler (Receive address) in Yoroi Wallet
How to find the ADA handler (Receive address) in Daedalus Wallet
On the Wallet panel, click the Receive tab. Choose any of the Receiving addresses
If you don’t want to pay the DripDropz fee like I do, there will be a service to claim your rewards in the coming months. You will have one year to claim your rewards, so there will be plenty of time to claim without having to pay DripDropz’s service fee.
