Sundaeswap has the distinction of being the first dex have to start Cardano’s Blockchain, Its mainnet launch was full of criticism as the decentralized application experienced major network congestion issues from the beginning.
On the other hand, it is also noted that dex has failed to keep its promise with the cooperation of cardstarter, Overall, this is the biggest threat to the brand value of Cardano.
Hence, it needs to focus on fulfilling the promises made to the merchants and fix the network congestion problems as soon as possible.
Sundaeswap transactions on a holiday?
sunday swap launched it dex Mainnet on January 20, 2022, which enables investors to trade, stake and lend tokens on the network with reliable fees. According to several merchants who tried to use it after the launch of the network, they complained of incomplete transactions when they turned profits. The problem persisted for days after the launch, below are some examples where traders faced reported problems.
The benami trader reported his anguish on Twitter, unable to complete the transaction when it was profitable. ADA price nearly lost its support during periods of heavy network congestion $0.9 For some time.
Sundaeswap false promise?
Cardano’s project Cardstarter announced in early April 2021 that it was going to create its own decentralized exchange. Later their developers entered into an agreement with third parties dex sunday swap, And investors are assured of massive gains during their YouTube AMA session cswap Token holder in Sundaeswap dex,
Instead, the only benefit . was converted from cswap To cardstarter native token leaves on one 400:1 conversion rate. However, allegations of pulling a rug soon followed. Later, SundaeSwap and Cardstarter took to Twitter to blame each other with respect to the investors’ results.
The move was further rejected by the ADA Maximalists and its co-founder Charles Hoskinson. He urged both these communities to solve their problems with proper communication and give the investors what they promised.
Collectively, Cardano’s DEX SundaeSwap has managed to gain its TVL despite all the setbacks. $70 million Within days of launch. If it fixes its own ongoing issues soon then a billion dollar boat in the next few days is not a big deal. It also bodes well for ADA’s reputation which helps drive the price north.