Cryptheory – Just Crypto

Cryptocurrencies are our life! Get an Overview of Market News

SundaeSwap launches on Cardano, but users report transaction failures

2 min read

Finally, Cardano had its first decentralized application (dApp) implemented, with the launch of the SundaeSwap exchange. The decentralized exchange (DEX) was launched on Thursday (20), but is causing frustration among users.

According to the comments on social media, users reported congestion, platform errors and transaction failures. DEX trading began at 9:45 pm and it took less than two minutes for users on the project’s Discord server to start complaining.

SundaeSwap CEO Mateen Motavaf responded to the disgruntled comments saying the slowdown was to be expected. Motavaf also urged DEX users to be patient, especially for on-chain transactions.

“If your order is on-chain, it may be processed with failures due to congestion. Please be patient,” said the CEO.

Users complain about the delay

At 1:00 am UTC, the SundaeSwap team created a chat room on Twitter’s Spaces to address traders’ issues with the platform. A user asked what the expected effect of an upcoming update of Cardano nodes would be.

“Since the change happens on the 25th, we expect more than a twofold increase in throughput from strictly memory itself, as additional protocol parameters become available,” said Matt Ho, technical director at DEX.

Another user noticed that an order was filled on DEX before it was posted on the site. With this, a trader could bypass the website UI and execute trades directly on smart contracts.

If that happened, that trader would gain an advantage over users who traded in the order book. Ho replied that he “did not believe that anyone would have constructed a transaction using this mechanism”.

At 2:40 am, users were still complaining about transactions and failures outstanding for more than four hours. Pi Lanningham, chief investment officer at SundaeSwap, said that DEX currently receives 2,500 orders per hour and highlighted that orders will be processed as normal.

This delay was already expected by the DEX team. In fact, tests carried out on the SundaeSwap testnet a month ago indicated that this could happen. On January 8, the team wrote:

“We want to let you all know that while orders can take days to process, everyone’s orders will be processed fairly and in the order they were received.”

Metaverses Genesis Worlds, Gods Unchained and Heroes Chained announce news

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

Leave a Reply