What are Cardano projects SundaeSwap and CardStarter?

SundaeSwap

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

The trouble began in April when the CardStarter accelerator program announced it would introduce its own decentralized exchange, or DEX. Shortly afterwards, its founders encouraged investors to provide liquidity for the Uniswap project in exchange for CSWAP home tokens. The platform’s developers signed a contract with a third-party DEX provider called SundaeSwap, some time later, marketing the deal as a “merger” last June. Under the CardStarter agreement, it would no longer develop its promised DEX, but would instead provide liquidity to the existing SundaeSwap DEX.

Cat said by Reddit user “Environmental-Law768” investors were later promised “big benefits” during a YouTube ask me anything for CSWAP holders in SundaeSwap DEX. Last week, however, it was revealed that these so-called benefits would simply be a conversion from CSWAP to home CARDS CardStarter chips ($ 3.14 at the time of writing) at a 400: 1 ratio. Holders who had locked in the $ 15 million (at the time of disclosure) liquidity on the platform, they seemed to feel it was a slap in the face that meant no significant reward for their efforts. Accusations of pulling the rug soon followed.

Both SundaeSwap and CardStarter have taken to social media to blame each other for the consequences of investors – many disapproval ADA enthusiasts and Cardan founder Charles Hoskinson.

According to a SundaeSwap statement quoted by Hoskinson, the June deal was merely a marketing and collaboration deal. However, the SundaeSwap team admitted that they used incorrect terms several times when communicating with users. To make matters worse, the newly launched SundaeSwap DEX has already suffered from numerous user reports of failed transactions.

During a stream on YouTube on Monday afternoon, founder Cardana Hoskinson convicted hot exchanges between parties. Hoskinson explained that it is unacceptable for the fiduciary organizations involved, SundaeSwap and CardStarter, to use Twitter, Reddit, Telegram and other social media channels to present their case. “It’s awful. Do nothing but try to abdicate your personal responsibility and damage the brand of the ecosystem as a whole,” Hoskinson said.

Please people, collect your shit. Both sides come together, agree to arbitration, talk, and figure out what the hell you agree to do. And if somehow you can’t survive the arbitration process, those courts are always available.

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