On January 20, the SundaeSwap decentralized exchange was launched on the Cardano mainnet. Users have complained about errors in transaction processing due to network congestion, but updating Plutus smart contracts should 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 has become the second DEX on the Cardano blockchain. Unlike MuesliSwap, launched in November 2021, the platform is publicly supported by IOHK and personally by Charles Hoskinson.
— Charles Hoskinson (@IOHK_Charles) January 20, 2022
Previously, on January 8, the SundaeSwap team warned users about potential problems with transaction processing after the launch of the project on the main network. The developers noted that the reason lies in the parameters of the Cardano blockchain, which are set “conservatively”.
“Due to overwhelming demand and hype from the community, we expect real numbers to be far behind projections, even under the most optimistic forecasts. To be as transparent as possible, we want to inform everyone that orders may take several days to be processed, but they will all be processed fairly in the order in which they were received and executed,” the developers wrote.
However, users complained not only about delays in transactions, but also about critical errors, due to which it is impossible to perform a swap or send another transaction.
— Nh₳nngov₳n (@nhanngovan) January 21, 2022
Ahead of the launch of SundaeSwap, IOHK announced that it will adjust the parameters of Plutus smart contracts. In particular, developers will increase the number script memory blocks up to 12.5 million per transaction. The update will be activated on January 25th.
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 Blocks per transaction is 11.25M. This will increase to 12.5M after this update. This incremental adjustment is the next in a series of planned network changes that we will implement as we begin scaling Cardano for future growth. ”, — wrote in IOHK.
According to the developers, the adjustment will provide more resources to decentralized applications using Plutus. To determine the next value threshold, the team will monitor network performance.
On the AMA-sessions on Twitter SundaeSwap CTO Matt Ho noted that after the announced changes come into effect, he expects to more than double the throughput of the blockchain.
— SundaeSwap Labs 🍨 (@SundaeSwap) January 21, 2022
According to DeFi Llama, the volume of blocked funds in MuesliSwap smart contracts exceeded $4 million. The decentralized exchange also operates on the Smart Bitcoin Cash network, but the vast majority of assets ($3.49 million) are placed in Cardano.
Recall that in January, IOHK published a roadmap for the development of Cardano in 2022. Developers will focus on performance optimization and blockchain scaling.