Crypto is still like the wild west and one has to be careful of various projects. Rug pulls do happen as we all know and why doing your homework is just as important as the investment itself. Staying up to date on what is happening being informed is also very important. If investors had followed Cardstarter the entire time surely they could have asked for a refund and bailed early.
When there is confusion between two parties normally both are at fault for not communicating correctly. Card Starter and Sundae Swap should have made things clearer as surely Sundae Swap could see this coming. I understand it isn't up to them if they never agreed to this but ignorance is no excuse for not dealing with this much sooner. Investors have been screwed over and this is more FUD for crypto.
I decided to have a look at what all the noise was about as Cardstarter I know as I nearly bought into this and thankfully didn't.
I can recall this back in late March early April with many saying get in early on Cardstarter as this would be the new DEX on Cardano opening up earning opportunities getting ahead in various launches. Who doesn't want to get first crack at a new token as this is where the pumps happen. Apparently over 2 million investors bought into this idea and have been waiting for the pay day.
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Cardstarter then back tracked stating they will supply liquidity to SundaeSwap instead of launching their own DEX. For providing this liquidity the Cardstarter community would receive 150 million SundaeSwap tokens. Apparently this was never agreed upon and 4 days ago SundaeSwap handed out 20 million which is double what they said they would offer.
At the end of the day the Cardstarter community has been screwed over by their own team firstly by not doing what they said they would do. The team sold the investors on a promise of a DEX or launch pad for Cardnao which never materialized. False promises is what go them their investments and now they have lost the trust of everyone.
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Whatever way you look at this investors have lost out big time as what they were sold was based on a lie. How big a lie right now even just on the Sundae token pricing which according to the community is short of 130 million tokens. The only price I can find is $1.55 and if multiplied by 130 million that is a cool $200 million short in broken promises. 6.5 x less than promised and not forgetting they invested in a DEX originally which would have been worth more surely over time. This is criminal as this is genuine fraudulently behavior whatever angle you look at it from. Crypto has a lot of growing up to do with many who are heading up teams who shouldn't even be there. This is real money and we are talking millions of Dollars involved.
Sometimes you should back the team or individuals rather than the project itself as the team in many ways is the project. Thankfully we have our own in house team with 