SundaeSwap users lament failed transactions
On January 20, SundaeSwap finally launched its mainnet after a series of testing. The DEX, it is believed, would allow users to trade, stake, and lend tokens on the platform for a very negligible fee.
According to several users who tried using the platform at its launch, they raised complaints about their inability to perform transactions via the site. This failure was later revealed to be a result of network congestion on the platform —an indication of the level of anticipation and enthusiasm the DEX had caused in the Cardano community.
Congratulations to @SundaeSwap on their launch today. Due to heavy #Cardano network load, some users may be waiting longer for transactions to complete as a result. This is to be expected around DEX launches & large NFT drops. Thanks for your patience during these busy periods. — Input Output (@InputOutputHK) January 20, 2022
Speaking on this, SundaeSwap’s Chief Executive Officer, Mateen Motavaf, explained that the issue is now under control. The parent company of the Cardano blockchain, Input Output Hong Kong also confirmed that the problem was being caused by the “heavy Cardano network load.”
To further put users at ease, around 1 am after the launch, the App’s team held a Twitter Spaces AMA to address the issues users have been experiencing.
Users of SundaeSwap have maintained that the network issues persist after 48 hours of the launch.
One user on Twitter, @ZWBJ1, wrote that he felt he was being scammed as he had been waiting for 12-16 hours for his tokens to be transferred from one wallet to another. Another user said he was misled, and he has lost $70k due to the slow transaction speed.
Who cares. At this point you've tainted the whole process. When I placed my order 6 minutes after launch, it was at a great value but because you couldn't process orders fast enough, I won't get tokens until the price goes back down. I missed out on 70k. You mis-led us. — Chris Hoke (@ChrisTooSlick) January 22, 2022
It is important to note that the crypto market saw the value of digital assets collapse rapidly after the market lost over $200 billion in 24 hours . During this period, the value of ADA dropped by over 10% and traded for as low as $0.9.
2/ With this information easily accessible, users will he able to decide whether or not to cancel their orders. All funds and fees are returned if the order is canceled. We plan to release plenty more UX improvements shortly.