Cardano ($ADA) creator Charles Hoskinson has weighed in on a botched partnership between two prominent projects on the cryptocurrency network, SundaeSwap and CardStarter, and essentially told them to cool their attitudes toward each other.
The issues between both platforms started after they agreed to a deal that was marketed as a “merger” last June. CardStarter was set to launch its own decentralized exchange before the deal, but dropped those plans, choosing to instead merge with SundaeSwap.
The project’s founders, however, incentivized investors to provide liquidity for the project on Uniswap in exchange for its native CSWAP tokens. After the deal was made with SundaeSwap, CardStarter dropped its DEX plans and instead moved to provide liquidity to SundaeSwap.
Investors were, during a YouTube Ask Me Anything session for CSWAP holders, promised “great benefits.” These benefits were, last week, revealed to be a conversion of CSWAP to CardStarter’s native CARDS tokens at a rate of 400:1. The token’s holders seemingly did not approve of these benefits, and quickly criticized both projects, with some bringing in Hoskinson and his firm Input Output into it.
Both CardStarter and SundaeSwap blamed each other for the botched partnership on social media.
In light of SundaeSwap's announcement, we share the following documents which we feel speak for themselves.
We will continue to fight for the CSWAP community. pic.twitter.com/6oM2rdcKYF
— CardStarter (@CardStarter) January 24, 2022
During a stream on YouTube, Cardano founder Charles Hoskinson responded to the botched partnership by condemning the exchanges between both parties after being contacted himself about it.
Hoskinson said it was unacceptable for both organizations to keep making their cases on social media, and suggested all they’re doing is trying to “abdicate” their “personal responsibility” and are instead damaging “the brand of the ecosystem as a whole.”
The founder of Cardano added that both sides could “come together, agree to arbitration, talk to each other, and figure out whatever the hell you agree to get done,” and that if they “can’t somehow survive the arbitration process” always have the option to go to court.
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