On Monday, the tense situation involving two Cardano (ADA) blockchain-based projects heated up, much to the ADA community’s dismay.
Recently, CardStarter, a cryptocurrency accelerator program, announced plans to build a decentralized exchange (DEX) called CardStarter. The project’s founders claim they gave investors native CSWAP coins to encourage liquidity for the CSWAP project on Uniswap.
Additionally, SundaeSwap, an independent DEX, and the platform’s designers agreed to a “merger” in June of last year. So, CardStarter has opted to supply liquidity to the SundaeSwap DEX rather than creating its own.
A SundaeSwap DEX Q&A session on YouTube promised “huge benefits,” according to Reddit user Environmental-Law768. The announcement ofaA conversion from 400:1 CSWAP token to CARDS token (now worth $3.14) was last week.
With $15M in liquidity, Holdings felt slapped in the face, with little tangible return for their efforts. Furthermore, accusations of a rug pull surfaced fast.
SundaeSwap and CardStarter’s Blame Game
Consequently, SundaeSwap and CardStarter blaming each other for the investor reaction enraged Cardano followers. Much to the displeasure of Cardano developer Charles Hoskinson, the response sparked indignation among Cardano supporters.
According to Hoskinson, the June agreement was simply for the purposes of marketing and collaboration. While interacting with users, the SundaeSwap team acknowledged that they had used incorrect jargon in their communications. To make matters worse, SundaeSwap DEX, a recently established DEX, has already experienced many unsuccessful transactions.
Hoskinson, the CEO of Cardano, slammed the heated interactions between the parties during a YouTube webcast Monday afternoon. He stated that the two fiduciary companies involved, SundaeSwap and CardStarter, should not utilize Twitter, Reddit, or Telegram.
Morever, it’s a disgraceful act. In the end, all it accomplishes is undermine the ecosystem’s reputation by attempting to deflect personal accountability, said Hoskinson.
To conclude his statement, he said that everyone, gather your wits. Talk to each other, agree to arbitration, and figure out what the hell you can agree to do. And if you fail in arbitration, you can always turn to the courts for help, he added.
