SundaeSwap DEX launches on Cardano as users report failed transactions

On January 20, the SundaeSwap decentralized exchange launched on the Cardano mainnet. Users reported errors in transaction processing due to network congestion, but an update to Plutus smart contracts is expected to fix the situation.

Swapping is now LIVE! 🎉🥳

Head 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

SundaeSwap became the second DEX on the Cardano blockchain. Unlike MuesliSwap, launched in November 2021, the platform is publicly supported by IOHK and Charles Hoskinson personally.

https://t.co/OYEU1TrV1q pic.twitter.com/ReJCs2bqUc

— Charles Hoskinson (@IOHK_Charles) January 20, 2022

Earlier, on January 8, the SundaeSwap team warned users about potential issues with transaction processing after the project’s mainnet launch. The developers noted that the cause lies in Cardano blockchain parameters, which are set “conservatively”.

“Due to overwhelming demand and excitement from the community, we expect a large lag between actual metrics and planned figures, even under the most optimistic forecasts. To be as transparent as possible, we want to inform everyone — order processing may take several days, but all will be processed fairly in the order they were received and executed,” the developers wrote.

However, users reported not only delays in operations but also critical errors that make it impossible to perform a swap or send another transaction.

fail pic.twitter.com/1TmdmlO5nP

— Nh₳nngov₳n (@nhanngovan) January 21, 2022

Ahead of SundaeSwap’s launch, IOHK announced it would adjust the parameters of Plutus smart contracts. Specifically, developers will increase the number of script memory units per transaction to 12.5 million. The update will be activated on January 25.

PARAMETER UPDATE: Today, we have commenced the update proposal process to increase Plutus script memory units per transaction on the #Cardano mainnet by 1.25M. This initial change will take effect at the boundary of epoch 317 on Tuesday 25th January at UTC 21:44:51 🧵↩️

— Input Output (@InputOutputHK) January 20, 2022

“The current number of Plutus script memory units per transaction is 11.25 million. After this update it will rise to 12.5 million. This gradual adjustment is the next in a series of planned changes to the network that we will implement as we scale Cardano for future growth,” IOHK wrote.

According to the developers, the adjustment will provide more resources to decentralized applications using Plutus. To determine the next threshold, the team will monitor network performance.

During an AMA session on Twitter, SundaeSwap’s chief technology officer Matt Ho noted that after the announced changes take effect he expects more than a twofold increase in the blockchain’s throughput.

https://t.co/eAKpJcsie4

— SundaeSwap Labs 🍨 (@SundaeSwap) January 21, 2022

According to DeFi Llama, the total value locked in MuesliSwap’s smart contracts surpassed $4 million. The DEX also operates on the Smart Bitcoin Cash network, but the vast majority of assets ($3.49 million) are held on Cardano.

In January, IOHK published the Cardano road map for 2022. The developers will focus on performance optimization and scaling the blockchain.

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