September 15, 2022
SundaeSwap Testnet Governance Vote
Sundae Labs Team
Governance is a critical component of the long-term success of any DeFi protocol, and SundaeSwap is no exception. Over the past several months, as the typically hectic pace of a DeFi startup slowed to the point where we could devote more resources to strategic projects, we’ve been able to really focus on the Sundae DAO. In our July Sundae Scoop, we previewed what the Sundae DAO would look like (be sure to give it a watch), and now, we’re pleased to be able to show you how some of our governance features are expected to work.
Today, we’ll be launching the preview testnet for our layer-2 Validium-inspired secure governance solution on the Cardano Preview Testnet, where we’ll begin hosting a 15-day vote for the best ice cream flavor. Using the portal at https://governance.preview.sundaeswap.finance, you’ll be able to connect your wallet and cast your vote. Note that Eternl is the only wallet that currently supports both the preview environment, and the APIs we needed to build this. Once you’ve connected your wallet you can claim a small amount of a VOTE token. This token takes the place of the SUNDAE token on the Preview Testnet environment. We’ve recorded a video with Andrew Westberg, for his show NerdOut, that explains how the governance process works in full technical detail.
Voting will be absolutely free (even on mainnet — there are no transaction fees!); users will be able to confirm that their vote will be counted, and any attempt to tamper with the vote will be cryptographically detectable. We’ve partnered with trusted members of the community to independently audit the results. The inaugural partners for this are:
This is the next step in a process that will give SundaeSwap DEX users a strong, immutable voice in directing the future development of the platform.
We’re extremely proud of what we’ve built, and we’re also excited to share this with the wider Cardano community. If you’re building on Cardano, and are looking for a way to give your community a voice without building a full governance platform yourself, please reach out to us at contact@sundaeswap.finance. And if you’re a member of a community for a Cardano project and want to see your developers partner with us, let them know!