Minswap's Failure Raises Cardano Investors (ADA) - Kakiforex.com - Financial Market Media No. 1 in the World Minswap's Failure Raises Cardano Investors (ADA) Minswap's Failure Raises Cardano Investors (ADA)
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September 8, 2021

Minswap's Failure Raises Cardano Investors (ADA)

 Cardano’s first decentralized exchange (DEX), Minswap was temporarily closed starting Sept. 6, inviting discontent among ADA investors.


Of course, not only did they encounter this flaw when Cardano's testnet was broadcast, but it also involved difficulties with unspent transaction output (UTXO), DApp failures, and network congestion issues.


As they complained about the issue in several forum spaces, there were also negative reactions related to the project, especially a few days before the smart contract was launched in Cardano.


In fact, there are even a handful of parties who slammed Cardano’s founder, Charles Hoskinson in the social media space.


Contrary to expectations, Hoskinson seemed indifferent to the investor situation and the problems Minswap was facing: “We are not responsible for Minswap’s situation and nothing needs to be fixed. It's not a problem. "



What happened to Minswap?


On September 4, Minswap had reported concurrency or issues of several computations simultaneously causing them to have to suspend their testnet.


Since posting on the Cardano testnet, Minswap has received complaints related to token exchange problems and liquidity provision.


Realizing many were blaming Cardano, Hoskinson brushed it off and explained this negative sentiment was driven by the FUD group.


In fact, this incident further proves the risk of trading effects on DEX during the testnet phase. DEX Cardano, SundaeSwap Labs also assures this is only a temporary issue as it is normal for new ecosystems.


Minswap is expected to return to operations in a few weeks.