Friday, May 24, 2024

SundaeSwap is live, and its a mixed bag

The moment everyone had been waiting for has finally happened. Late Wednesday night, early Thursday (depending on where you live), SundaeSwap went live. They did it with very little warning. As expected, the blockchain has gone from heavy load, to completely over burdened. So how has it played out?

Well, it does work. But it takes allot of patience. What we (the cNFTHub team) have found, is that Nami wallet just doesnt work consistently. However ccVault works very consistent. If you place an order, you just have to be patient. It takes anywhere from 5-20 minutes for your ada or tokens to be removed from your wallet and placed in to the smart contract. Then what you are expecting to receive in return can take anywhere from 8 to 24 hours.

Its very important to note that slippage is a real thing, and there will obviously be allot of orders ahead of yours. Its not possible to know how many; and as such, impossible to know what the future price will be, by the time your order is at the front of the line. If you want to ensure your order gets placed, you’ll have to adjust the slippage. To what level of slippage is entirely up to you. But if you set it for 100%, you will definitely get your swap.

The feedback we’re seeing online is ranges from “its okay” to “very frustrated”. Its hard to know if it will improve in time. But its unlikely that we’ll see a sudden decrease in usage; which means the lag times on not just SundaeSwap, but all of Cardano are likely here to stay for the forseeable future.

What could improve things? Well, for starters, we’re a bit surprised to find out that SundaeSwap is using Blockfrost. Blockfrost is okay for a few use cases. But at this volume, its anything but. It seems like they probably should have either custom built their back end, or they should have connected with a team like Phyrehose.

So in summary, it could be better. But it does work. And the cNFTHub team has had some very good results with our cbTHC listing for Cardano Budz. So swap away. Just expect some very real delays. And dont forget about MuesliSwap. Their site works perfectly, and is delay free (save for the fact that the blockchain is saturated and making everything around it slow).

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