Main navigation

Cardano DEX Announces First Governance Milestone: Details

Sun, 02/05/2023 - 10:47
article image
Tomiwabold Olajide
Cardano enters Voltaire, age of governance
Cardano DEX Announces First Governance Milestone: Details
Cover image via

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

SundaeSwap, a Cardano DEX, has announced a significant governance milestone. In a tweet, it made known that the first on-chain SundaeSwap governance vote is now live.

On Jan. 31, SundaeSwap announced the launch of its governance portal while also announcing its custom Layer-2 Validium solution.

SundaeSwap stated that it prioritized governance as its first major product release for 2023 because it sees it as a critical component in cementing the SundaeSwap DEX as a fully decentralized project.
With the launch of the solution, SundaeSwap says it is enabling a goal it has had since the launch of the DEX protocol last January: to give SUNDAE token holders the capability to propose and vote on key decisions related to the future of the DEX protocol.

In July 2022, the Cardano DEX launched its first public instance of its off-chain Validium — an inspired secure governance solution on Cardano — by taking a vote for the best ice cream flavor.

Cardano enters Voltaire-age of governance

As reported last year, Cardano founder Charles Hoskinson unveiled the first CIP for the Age of Voltaire, CIP 1694.

The Voltaire era, often known as the age of governance, is what the Cardano Improvement Proposal (CIP) 1694 aims to achieve.

Cardano Enters Voltaire Age, Here Are Possible Governance Reforms

The acceptance and vote on it in November 2022 were proposed by Jared Corduan, a software engineering lead at Input Output Global, Cardano's builder.

According to Cardano's roadmap, the Voltaire era seeks to provide the final pieces required for the Cardano network to become a self-sustaining system.

With the introduction of a voting and treasury system, network participants will be able to use their stake and voting rights to influence the future development of the network.

article image
About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.