Which was the ponzi? Think you need to DYOR!
IS sundae a ponzi… very questionable transactions on launch! link to SBF Around the time they rugpulled Cards! In a court case.
How many red flags does it take?
They know how to make it go away!
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I was an early investor in SundaeSwap. They turned out to be a fraudulent group with connections to FTX/SBF.
They are currently in a legal battle. Risk is not worth it until results come out.
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Conrad, it means that you don’t really know them. Anyone can put up appearances.
Are they perfect? Of course not, who is perfect?
Have they made mistakes? Of course… Who hasn’t?
The question is have they defrauded people? Yes.
All else is pointless. There are plenty of projects who operate honestly. Our job is to cut out the cancer where they start. This is web3.
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Ignore these warnings. It’s your money at risk.
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Its not healthy if the people voting in forum are anti sundae swap and going against the protocol because they are trolls. Put this on platform so we can move forward without the trolls
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I dont have any money in Sundae I have money in $INDY. You are going against the protocol because you hate sundae swap. TVL is TVL regardless of where it is.
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I think the negativity also spawns from the fact that the SundaeSwap team can’t really defend themselves publicly because they are in a legal suit with another party. In the US, the judge overseeing the case would immediately penalize the SundaeSwap team for saying anything publicly about the case. So for now, SundaeSwap is at the whims of whatever anyone wants to say about them on the discords, the twitters and the forums because they know SundaeSwap can’t respond. (Full transparency: SundaeSwap CM here)
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Incentivizing a decentralized liquidity provision does not risk that person’s funds. I’m sorry but you’re gonna have to be a bit more honest with yourself and this forum to be taken seriously.
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Just on here making things up to fud sundae swap.
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As the CM in Sundae Discord, have you read the latest legal argument?
You know the Sundae team wanted the judge to dismiss the case, but did the judge do that? I’ll highlight again, his rebuttal below:
"The most salient term of the Gentleman’s Agreement — tokens for liquidity pools — is certainly “clear and definite” enough to support the claim that a promise was made.” I’m attaching the pdf below so you CAN READ IT.
CardStarter-Ltd-v-SundaeSwap-Inc-et-al-candce-22-00757-0055-0.pdf (222.1 KB)
So the JUDGE in this case agrees the “Gentleman’s Agreement” Sundae conducted for the LP deal is grounds of a promise. NOW the question is, will a JURY find the same promise valid? Of course they will. And let’s hope the SEC can bring up charges after that. Or god forbid the Sundaeswap team use more liquidity from the dex to cover all the legal costs and payment to the plaintiff’s. WHOSE GONA PAY? The DEX will with all the RETAIL investors. Classic SBF and LUNA move.
So all this legal trouble and closely associated with Alameda Research that is part of a bigger crypto scam, should be red flags. They should pack up and go! Let other Cardano dexes absorb the liquidity and/or help a younger dex get bootstrapped.
Or LET DEMOCRACY do it’s thing. LET THE PEOPLE CHOOSE! I stand with that, always.
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A lot of us invested in Sundae before it was even a thing.
Youre going to have to do your due diligence to be taken seriously.
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Then let me ask you why you support this protocol?
If your investing style is to only listen to one side, thats on you. Not here to change your mind.
Im here to inform people that may care about principles, morality when investing into a team/project.
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Losing money is a part of investing.
But getting funds stolen or agreements unmet is fraud.
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My investment style is make money. Why do I care about your bad investments or morality it doesn’t make me any money.
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I didn’t get anything stolen and the protocol exists and is being used.
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Nobody stole anything from you, you made a bad “investment” with a sleazy project, don’t take it personally and accuse others of what was your own mistake. And in any case, this is irrelevant anyway, people use SundaeSwap and provide liquidity for it, Indigo would be missing out and be less sound by excluding it.
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Can anyone post details / a link about this (Sundaeswap being sued)? Overall, in the absence of any further information, I agree with Conrad’s points.
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Voted NO! here is my reasons why.
- No native ADA Staking
- Low TX volumes
- Low Iasset Liquidity
- Literally No update/features since Launch
Cardano Defi is a small community as it is and we expect it to grow by fragmenting between dexes? If SS gets Whitelisted its gonna be a long road for Cardano defi to really bloom. UX is gonna be trash as fuck.
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I wasn’t going to respond to a muesliswap question in the sundae proposal until I got off work and saw this
Muesliswap offered a farm on their own and is making an attempt to draw liquidity in on their own merit.
What is SundaeSwap doing to encourage people to provide liquidity aside from hoping that this proposal passes?
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