If there’s one thing Satoshi Nakamoto doesn’t have to worry about, it’s being sniffed when various actors building on the Bitcoin blockchain get into battle. Unfortunately, the same can’t be said of Cardano founder Charles Hoskinson, who had to step in to comment on the ongoing feud between the Cardano DEX SundaeSwap and project incubator CardStarter.
A messy banana split
The public feud between the two teams building on Cardano came to a head when CardStarter filed a lawsuit against SundaeSwap on February 4, 2022. Hoskinson expressed his disappointment that the courts got involved. He said,
“I think they are” [CardStarter] now asking for even more than what was promised to them – 250 million [SUNDAE tokens] or something. . .”
The original reported value was 150 million SUNDAE tokens. SundaeSwap only wanted to offer 10 million tokens at the time.
Hoskinson complained that the judicial process would be “terribly expensive” and can take months to years to resolve. He also reminded “young entrepreneurs” to be more formal when negotiating commercial ventures rather than making legal deals through social media channels.
You’re starting to get on my nerves
To refresh your memory, CardStarter and SundaeSwap have made several agreements to work together and share liquidity. However, when SundaeSwap soared while CardStarter posted a significant loss in TVL, there were disagreements over how many SUNDAE tokens to set aside — and whether the two projects would even merge or not.
Previously, Hoskinson had told the two to “get your shit together” and opt for arbitration. But now that legal proceedings are underway, his tone is more cautious.
For his part, crypto researcher Max Maher tried to untangle the feud and came to a similar conclusion. He had previously noted that the leaders of the two projects were very young and wondered if they had enough experience to close the deal. Maher said,
“To me, this mainly highlights the lack of experience on both sides. CardStarter is pretty clear, making tens of millions of dollars false promises and Sundae for not solving these problems and having everything in writing in a contract in the first place.”
An important conclusion here, however, is that the spit — while it generates bad press for Cardano — has little to do with the blockchain, its development, or Hoskinson himself.
Keep calm and ADA on
At the time of going to press, ADA changed hands for $1.12. The coin fell 3.34% in 24 hours, but has risen 5.06% in the past seven days. Moreover, ADA and almost all top 25 cryptos are still in the green.
This post As this feud writes its next chapter, Hoskinson has a warning for Cardano builders
was published first on https://ambcrypto.com/as-this-feud-writes-next-chapter-hoskinson-has-a-warning-for-cardano-builders/
