While most top players in the cryptocurrency industry are leaving no stone unturned to consolidate their stand at the top of the crypto food chain, Cardano has now found itself in trouble following an ongoing feud on the social media platform, Twitter.
The parties in the feud are decentralized exchange providers in the crypto industry. The rivalry will be narrated in the preceding paragraphs that follow.
Cardstarter is a well established platform that provides accessibility for first-time investors looking to invest in blockchain. It announced in April 2021 that it had successfully launched a decentralized platform called Cardano’s Uniswap. In contrast, Uniswap is the first decentralized app created by Cardano.
The same year, CardStarter rolled out a decentralized pitch. Going by the announcement by Cardstarter, investors are encouraged to cooperate by making liquidity available for the project in respect of a specific token. In a twist of events, the developers of Cardstarter turned their back on the arrangement by agreeing with another platform. This later became a merger.
The contract emphasized that Cardstarter should shift its focus to providing liquidity to the new exchange platform to make the operation move seamlessly.
But holders of the $CSWAP token were earlier told that the deal was for their progress, which turned out to be false. It is fair to say that the investors tasked with providing the liquidity were not impressed with the whole deal. And this is where everything falls like a pack of cards.
One Reddit user revealed that the much-mouthed benefits imply that it might simply be a way to make them convert to the Cardstarter’s coin.
The same user has this to say, “We (team) have $15 million in liquidity gone, and were told the “huge benefit” that awaited us was to grab some tokens – it’s just a benefit with no use.”
Such a revelation made the situation tense, with allegations of fraud circulating all over the space and amongst all affected investors.
Remarks After Remarks
Both conflicting took to their social media accounts to air their opinions concerning the issue at hand. Cardstarter used their Twitter handle to tweet, putting up a couple of screenshots for reference.
Cardstarter also published an article on the popular online publishing site, Medium. While SundaeSwap makes some effort to distance itself from the ongoing feud.
Unfortunately, things got out of hand when users started reporting cases of continuous unsuccessful transactions due to network congestion on the platform.
Hoskinson Slammed Both Parties
The Cardano founder later became the point of attraction due to the raging feud, which made him unhappy with how the situation had turned out.
According to him, it is unacceptable that both parties resort to a social media war to tell their part of the story. It is disheartening and despicable to do so.
If history is to be looked into, Cardano has a high tendency to be blamed for its mess.