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Cardano to The Moon: What You Need to Know
Addressing the Cardano drama
Is Cardano (ADA) a total failure?
No.
But it has been involved in a lot of drama lately.
SundaeSwap, which is being touted as Cardano’s top application, just “dragged the entire ADA community through the mud,” according to Cardano creator Charles Hoskinson.
After researching what happened I can say, things got so bad for SundaeSwap it honestly felt like I was experiencing an SNL skit at times.
Before we get into that, I just want to say, there is hope for Cardano. In response to the drama, Charles and IOHK (the driving force behind ADA) may have done enough damage control to save the project.
But I’ll let you come to your own conclusion.
SundaeSwap is a Broken Scam
SundaeSwap, which has become Cardano’s official decentralized exchange, is God-awful.
It was a two-part catastrophe beginning with the SundaeSwap developers who, prior to launch, issued a statement saying “orders may take several days to process.” That’s like Robinhood saying, “oh, you ordered this stock? Come back next week idiot.”
SundaeSwap acted as if all of this was a feature, not a bug, after all, how can you trust a transaction if it is not peer-reviewed?
Meanwhile, transactions on SundaeSwap began failing after users waited for two days or more.
This led to SundaeSwap executives like Chief investment officer Pi Lanningham to suggest users use 100% slippage (a feature that means you will pay a wildly different price than the price you ordered at) just to make sure transactions went through.
Additionally, the SundaeSwap CEO had this to say:
“IF YOUR ORDER IS ON-CHAIN, IT WILL BE PROCESSED ORDERS ARE FAILING DUE TO CONGESTION, PLEASE BE PATIENT.” —…
