Cardano (ADA) founder Charles Hoskinson lashed out at the developers of the altcoin projects CardStarter and SundaeSwap, which are built on the network. The community is angry that the promises made for a while have not been fulfilled, and the discussion continues on social media. cryptocoin.com We are giving the details as…
Cardano projects quarrel over failed promises
The ongoing drama between the two Cardano Blockchain-based projects escalated across multiple social media platforms on Monday, terrifying the ADA community. The issues stretch back to April, when accelerator program CardStarter announced it would launch its own DEX platform. Soon after, its founders encouraged investors to provide liquidity to the project on Uniswap in exchange for the CSWAP token. The developers of the platform made a deal with a third-party DEX called SundaeSwap some time later and marketed the deal as a “merger” last June. Under the agreement, CardStarter will no longer develop the promised DEX and instead provide liquidity to the existing SundaeSwap DEX.
Investors were then promised “big benefits” during a YouTube Q&A session for CSWAP holders on the SundaeSwap DEX. But last week it was revealed that these supposed benefits will be a 400:1 conversion from CSWAP to CardStarter’s native CARDS tokens. Owners who had locked $15 million worth of liquidity on the platform felt it was a slap in the face and not a meaningful reward for their efforts. Claims that it could be a rug pull have been published. Despite the disapproval of ADA enthusiasts and Cardano founder Charles Hoskinson, both SundaeSwap and CardStarter have blamed each other on social media.
Charles Hoskinson lashed out
According to a SundaeSwap statement quoted by Hoskinson, the June deal was purely a marketing and collaboration agreement. However, the SundaeSwap team admitted to using misguided terms multiple times when communicating with users. Worse still, the newly launched SundaeSwap DEX has already suffered from numerous reports of failed transactions. In a Monday YouTube broadcast, Hoskinson denounced the heated exchanges between the parties. Hoskinson stressed that it is unacceptable for the respective trustees SundaeSwap and CardStarter to use Twitter, Reddit, Telegram and other channels on social media to make their case. The Cardano founder continued:
This is cowardly. It does nothing but try to waive your personal responsibility and harm the brand of the ecosystem as a whole. Please guys, assemble. Both parties get together, agree to mediate, talk to each other, and whatever the hell you decide to do. And if you somehow cannot survive the arbitration process, the courts are always available to you.
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