Cardano projects SundaeSwap and CardStarter squabble over failed promises to investors


The ongoing drama between the two projects built on the Cardano (ADA) blockchain escalated on Monday across several social media platforms, to the annoyance of the ADA community.

The problem began in April when the accelerator CardStarter announced the launch of its own decentralized exchange, or DEX. Shortly afterwards, the founders encouraged investors to provide liquidity for the project on Uniswap through the original CSWAP tokens. The platform developers reached an agreement with a third-party DEX called SundaeSwap to present the agreement as a “merger” in June last year. Under the agreement, CardStarter will no longer develop the promised DEX, but will instead provide liquidity to the existing SundaeSwap DEX.

As Reddit user “Environmental-Law768” revealed, investors later promised “great benefits” during a YouTube Ask Me Anything session for CSWAP holders on SundaeSwap DEX. However, it was revealed last week that these alleged benefits would simply be a 400: 1 conversion of CSWAP to CardStarter’s original CARDS tokens ($ 3.14 at the time of writing). during the show) on the catwalk, they felt it was a slap in the face, not a meaningful reward for their efforts. Allegations of carpet pulling soon followed.

SundaeSwap and CardStarter have taken to social media to blame each other for investor failure – mostly to condemn ADA enthusiast and Cardano founder Charles Hoskinson.

According to a SundaeSwap statement quoted by Hoskinson, the June agreement was merely a marketing and collaboration agreement. However, the SundaeSwap team has repeatedly acknowledged the use of misleading terms when communicating with users. To make matters worse, the recently launched SundaeSwap DEX has already been hit by a number of user reports of failed transactions.

During a YouTube broadcast on Monday afternoon, Cardano founder Hoskinson condemned the heated exchanges between the two sides. Hoskinson explained that it is not acceptable for participating lenders, SundaeSwap and CardStarter, to use Twitter, Reddit, Telegram and other social media channels to promote their interests. “It’s disgusting,” Hoskinson said. “It does nothing but try to absolve itself of personal responsibility and damage the brand for the ecosystem as a whole.”

Please guys, get together. The parties meet, agree to act as arbitrators, talk to each other and find out everything you agree to do. And if you somehow can not survive the arbitration process, the courts are always available to you.

Source: CoinTelegraph


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