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SundaeSwap Labs
Decentralized trading protocol on Cardano
- 1-20 employees
- B2C
- Marketplace
- Trading
- Blockchain
- Web 3.0
- Greenbrae, Kentfield, CA
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Company mission
SundaeSwap Labs' mission is to enable economic empowerment for all.
Our take
SundaeSwap is an decentralized crypto exchange (DEX) operating on the Cardano blockchain. It’s looking to leverage the blockchain’s energy efficiency, and therefore low transaction times and fees, to build out a “a native, scalable decentralized exchange and automated liquidity provision protocol” superior to other contenders.
There are a few of them, though - Cardano hasn’t yet reached the heights of Bitcoin, Ethereum, and Solana, so there’s still a lot to play for as the ecosystem develops. ADAX Pro, Cardax, AdaSwap, and Danaswap are all gunning for top DEX spot on Cardano too, so competition is fierce. SundaeSwap, however, has proven itself resilient: it held firm in spite of overwhelming trade volumes upon launch, and will face more refinements in a much-anticipated hard fork coming soon.
Where it may face more difficulties is its reliance on the Cardano blockchain. With major blockchains rapidly ironing out issues of energy efficiency, transaction times, and gas fees, Cardano will need to distinguish itself in some other way to attract and foster a lively ecosystem.
Freddie
Company Specialist at Welcome to the Jungle
Funding (1 round)
Sep 2021
$1.3m
SEED
Total funding: $1.3m
Leadership
Mateen Motavaf
(CEO)Previously a researcher at Harvard Medical School, who then co-founded the Chronic Illness Education & Prevention Association, and then worked as a clinical assistant at Massachusetts General Hospital.
Artem Wright
(COO)Graduated with a degree in business analytics from the Boston's Questrom School of Business.