Cardano’s DEX Sundae v3 Hits New Performance Record With 9,264 Orders in 24 Hours

This performance surge has caught the attention of Cardano founder Charles Hoskinson, who declared that the protocol is “waking up.”

Sundae v3, a decentralized exchange (DEX) on Cardano, has achieved a new performance record by processing an impressive 9,264 orders in a 24-hour period. This remarkable achievement has not gone unnoticed, with Cardano founder Charles Hoskinson himself highlighting the performance surge, stating that the protocol is "waking up."

In a recent tweet, Pi Lanningham, Sundae Labs CTO, shared some impressive statistics, showcasing the DEX's capability to execute 900 orders in a single block. Moreover, the DEX achieved a median trade execution time of 30 seconds, with nearly 90% of trades being completed within four minutes, indicating significant improvement in efficiency.

This surge in activity comes as Cardano anticipates the highly awaited Chang Hard Fork upgrade, which is now scheduled for June. Recently, Hoskinson hinted at the possibility of Cardano Node reaching version 9.0, which would signify the upgrade's readiness.

The Cardano ecosystem has witnessed a string of developments, including a transition towards decentralized governance. The company is also rolling out Decentralized Representatives (dReps) to amplify community involvement in treasury management.