Cardano Hit Milestone With SundaeSwap’s Launch, But Users Call It A “Disappointment”
According to both Cardano Blockchain Insight and pool.pm, the launch of SundaeSwap has enabled the Cardano blockchain network to maintain record capacity for around two weeks. Cardano(ADA)’s TVL reached the mark of almost $80 million even after the bloodiest...
- According to both Cardano Blockchain Insight and pool.pm, the launch of SundaeSwap has enabled the Cardano blockchain network to maintain record capacity for around two weeks.
- Cardano(ADA)’s TVL reached the mark of almost $80 million even after the bloodiest carnage of digital assets recently.
- The SundaeSwap launch wasn’t successful either. The users started posting about their failed transactions, unprocessed DEX orders on social media sites, after the launch of the protocol and at the time of publication.
Because of the launch of SundaeSwap, the first of its kind decentralized exchange, or DEX, the Cardano (ADA) network has maintained record capacity for nearly two weeks. This is claimed by both Cardano Blockchain Insight and pool.pm.
The SundaeSwap ISO, or Initial Stake Pool Offering dates back to 20th of this month and continued for five epochs, or 25 days.
Cardano (ADA), a proof-of-stake blockchain platform, aims to enable “changemakers, innovators, and visionaries” who want to positively impact the world.
Despite the latest fall in the token’s price from the current market down, Cardano(ADA)’s TVL reached the mark of approximately $80 million.
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Currently, the average load of the network is at 93.19%, meaning that 93.19% of its blocks are being filled. As of new year’s eve, the metric is recorded to be around 32.49%. At the same time, the number of ADAs will break the mark of 3 million.
The milestone became a reason for celebration for many Cardano( ADA) enthusiasts, who shared their excitement through social media. However, people also raised questions about its utility, as the network reached its near full capacity because of the addition of only one DEX.
Why Are Users Disappointed With The Protocol?
One Reddit user Additional_Till_838 seemed unimpressed by this as he pointed out that the Cardano blockchain is overloaded and is unable to handle the load. He added that it could be a potential turnoff for investors and inject this notion into their minds that the blockchain network is not reliable.
A frustrated SundaeSwap user, after trying to swap ADA for Sundae at least 20 times, complains that the Cardano product has proved to be a huge disappointment.
The launch of SundaeSwap didn’t go smoothly either. Shortly, the complaints from users regarding the failed transactions began to go viral on social media. Users were still reporting about their unprocessed DEX orders, at the time of publication.
On the other hand, the platform is still involved in a publicized commercial dispute that alleged unfulfilled investor promise with CardStarter, a Cardano accelerator program.
Charles Hokinson interestingly got involved in the matter too, asking both the parties to “get your shit together!” and resolve their differences either through arbitration or litigation.
🎁 We have just released an update to our orders page, you should now be able to see the approximate queue depth of a pool! Simply click to expand an order for more info.
This update should provide additional info on the current state of congestion. ⌛️ 1/2
At the time of writing, the Cardano(ADA) price is at USD 1.02 with a market cap of USD 34,325,057,836.
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