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Cardano-based Metaverse Project Pavia Takes Off: Sundaeswap Announces Launch Date

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Cardano’s gaming project Pavia officially debuted, as metaverse-related interest surged once again. For starters, Pavia is a gaming NFT Metaverse that aims to challenge the dominance of larger rivals in the crypto metaverse realms such as Sandbox Crypto and Decentraland. The Pavia project was incorporated in September 2021. In October 2021, it announced the first sale of LAND parcels by random allocation.

As per the press release, Pavia.io, has a total of some some 100k Land parcels, each being minted as a unique NFT with coordinates. At the time of writing, the project had sold nearly 60% of these Land parcels from October to November 2021. A final is scheduled for Q1 2022.

The pandemic saw a surge in developments towards an overall Metaverse and predictions reveal a potential valuation of $800 Billion by 2024. With projects launching on multiple blockchains, Pavia with its first-mover advantage may well be the people’s choice of the Cardano chain.

This is not the first time a metaverse project is taking shape in the layer-1 blockchain. Back in December 2021, a decentralized cloud computing solution, Cudos announced a joint partnership with Cornucopias. The blockchain gaming metaverse aimed to expand the Cardano Infrastructure by creating a unique method to build dynamic non-fungible tokens [NFT] through the Cudos Network.

As seen in all metaverse projects Pavia too has its native currency, PAVIA, of which 25% was airdropped to Pavia NFT landholders. The token along with other native assets is being actively traded on Cardano’s first DEX MuesliSwap. That being said, the ADA community has more reasons to cheer.

Cardano’s SundaeSwap DEX announced launch date

Cardano’s native decentralized exchange [DEX] and automated liquidity provision protocol SundaeSwap have released the dates for the launch in its blog post published on 16th January 2022. As per the post, the DEX is slated to go live as a fully-functional beta on Thursday, January 20, 2022. Apart from that, projects will be allowed to create pools starting from coming Tuesday, January 18.

Cardano founder Charles Hoskinson,delighted by the announcement, took to Twitter to congratulate the DEX team and dropped hints of upcoming DApps on the layer-1 platform later this quarter.

Cardano’s [ADA] DEX SundaeSwap Testnet launch hits a snag

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Cardano’s [ADA] highly anticipated decentralized exchange [DEX] SundaeSwap public Testnet was soon set to go live on 5th December 2021, as per the announcement by research and development firm, IOHK. However, the upcoming launch seems to get delayed as the DEX revealed a technical snag on its platform and assured that its team is working on resolving the bug while joking about rebranding their name to MondaeSwap, hinting that the project might get postponed to Monday.

So, what is the big deal about this new DEX?

SundaeSwap is one of the first decentralized applications [dApps] on the Cardano network and is similar to that of BNB’s PancakeSwap, or Ethereum’s SushiSwap which has further invoked curiosity in the community. Few days ago, IOHK conducted a interview, where SundaeSwap Lab’s CIO Pi Lanningham spoke some of the use cases that users can expect once the DEX go live.

Among them is the Toolkit for Cardano, that would facilitate users with smart contract testing and wallet integration. Explaining in detail, Lanningham revealed about the features that will allow users to test their transactions and reset the network as per their convenience.

Another important tool that got mentioned is the C-sync, that will allow ‘developers to read and react to state on the blockchain.’ The exec further went on to mention about an integration test framework for developers to simulate their protocols. Summing up, the exec stated,

The richer that we can make the Cardano ecosystem, the more opportunity there is for the kinds of software and the kinds of interconnectivity that we want to encourage to thrive… the more protocols there are that we can interact with the kind of richer the ecosystem and the more Cardano is able to deliver on its mission.

Cardano’s 1 million wallets milestone

The recent developments have generated an increased interest in the Cardano ecosystem and the holders of ADA tokens are reaping the benefits. Yesterday, the network achieved a new feat as the number of wallets staking the tokens reached a million in total. Interestingly, the network registered an almost 1000% growth in less than a month.

Staking has nevertheless generated an alternative source of revenue and the community now is pinning their hopes for a positive turnaround in ADA’s price action.