SundaeSwap launches on Cardano, but users report failing transactions

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Cardano’s first DApp and DEX, SundaeSwap, launched on the mainnet today amid a great deal of hype however network congestion has held up swaps on the platform for over five hours since trading began.

Brian Newar Jan 21, 2022 SundaeSwap launches on Cardano, but users report failing transactions

The first DEX on Cardano launched on the mainet to allow traders to perform swaps and add liquidity, but network congestion has slowed transactions processing.

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Cardanos first decentralized app (DApp), SundaeSwap, has launched but is causing frustration among users due to congestion, platform errors and failed transactions.

Is it just a case of expected teething troubles under an influx of excited users or is there more to it？

SundaeSwap is a decentralized exchange (DEX) and token-staking platform. Its mainet launch on Thursday marked a milestone in the Cardano ecosystem by being the first DApp to utilize its smart contracts.

The price of Cardanos ADA climbed 50% over the past week leading up to the launch of SundaeSwap, meaning a successful launch is a high-stakes game for Cardano.

Trading on the DEX started at 9:45 pm UTC on Thursday. It took less than two minutes for users on the projects Discord server to begin complaining about failed transactions and network congestion.

Swapping is now LIVE! nHead on over to https://t.co/GSGzSuqIcf and swap tokens, deposit liquidity, and enjoy! $SUNDAE Token Policy ID: 9a9693a9a37912a5097918f97918d15240c92ab729a0b7c4aa144d77#Cardano #SundaeSwap pic.twitter.com/jhLK6F8PuJ

— SundaeSwap Labs (@SundaeSwap) January 20, 2022

By 10:07 pm UTC, SundaeSwap CEO Mateen Motavaf posted a message in bold font and all caps trying to address the volume of complaints on the server:

“IF YOUR ORDER IS ON-CHAIN, IT WILL BE PROCESSED ORDERS ARE FAILING DUE TO CONGESTION, PLEASE BE PATIENT.”

The SundaeSwap team hosted a Twitter Spaces AMA at about 1 am UTC to further address any issues that traders were having with the platform. In light of the tremendous backlog of orders holding up swaps, or “scoops” as theyre called on SundaeSwap, one user asked what the expected effect of an upcoming Cardano node upgrade would have. Chief technical officer Matt Ho answered:

“Once the change happens on the 25th, we expect greater than a 2X throughput increase from strictly the memory bump by itself as additional protocol parameters become available.”

Another user noticed that an order was filled on the DEX before it was launched on the website. A tech-savvy trader can bypass the website user interface and execute trades directly on the underlying smart contracts for any DEX.

Ho responded that “there were so many things to deal with, we didnt believe maybe, to our naivete, that someone would have constructed a transaction by hand ahead of time.”

By 2:40 am UTC, users were still complaining of failed transactions and orders pending for over four hours. Chief investment officer Pi Laningham responded on Discord: “Orders will continue to be processed (currently around 2500 orders per hour; currently ~11k orders on chain, ~1600 of them within slippage tolerance).”

#Blockchain
#Cardano
#DeFi
#DEX

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SundaeSwap launches on Cardano, but users report failing transactions

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