The first decentralized exchange on Cardano launched today, but network congestion, platform errors and failed transactions are causing a lot of frustration among users.The question many Cardano investors are now asking themselves is: Is it just a teething problem or is there more to it?
Users complain about failed transactions
SundaeSwap is a decentralized exchange and token staking platform. Today’s launch marks a milestone in the Cardano ecosystem by being the first DApp to use smart contracts from the Cardano network.
Users looked forward to the launch of the decentralized exchange. This was the reason that the ADA price rose by 50% in the past week, but nothing is left of that price increase.
Trading on the decentralized exchange began on January 20 at 9:45 PM. However, it took less than two minutes for users on the project’s Discord server to start complaining about transaction failures and network congestion.
Swapping is now LIVE! 🎉🥳
Head on over to https://t.co/GSGzSuqIcf and swap tokens, deposit liquidity, and enjoy! 🍨💛$SUNDAE Token Policy ID: 9a9693a9a37912a5097918f97918d15240c92ab729a0b7c4aa144d77#cardano #SundaeSwap pic.twitter.com/jhLK6F8PuJ
— SundaeSwap Labs 🍨 (@SundaeSwap) January 20, 2022
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Major problems with SundaeSwap
The SundaeSwap team later hosted an Ask Me Anything thread on Twitter to further address issues traders were having with the platform.
Still, the team failed to solve the problems. Several hours later, users were still complaining about failed transactions that were pending for more than four hours.
Responding to Discord, CIO Pi Lanningham said, “Orders will be processed (currently about 2,500 orders per hour; currently ~11k orders in chain, ~1600 of those within slippage tolerance).”
The project’s core team expected a large backlog prior to launch based on testnet performance about a month ago. In a blog post of January 8, the team wrote:
“We would like to inform all of you that while orders may take days to complete, everyone’s orders will be processed fairly and in the order in which they are received.”
Leveraging the performance of the SundaeSwap platform from an earlier phase of testing, the team initially acknowledged the possibility of poor performance, but said, “we are confident that the protocol will be able to handle normal day-to-day workloads once things get going. unwind .”