U.Today - Heated debate is raging in the Cardano (ADA) community. While some influencers enjoy all aspects of activity upsurge - including those dangerous for ADA holders - the opposite side accuses them of being fascinated by "drama."
Launches, rugs, drama: Cardano (ADA) ecosystem has arrived, community says
Pseudonymous Cardano (ADA) enthusiast who goes by @cardano_whale on Twitter admitted that he is "loving the chaos" the Cardano (ADA) ecosystem is going through these days. He noticed a number of unusual events that resulted in solid "FUD and hype" for the blockchain and dApps using it for their operations.In recent weeks, Cardano (ADA) and its supporters witnessed launches, "rugpull" events, "drama", 1, 000% rallies of tokens and painful liquidations. Also, Project Catalyst, the largest community-driven incubation initaitive in Web3, came under fire due to shady nominees.
At the same time, these events, though painful and dangerous for the community, are signals that the Cardano (ADA) ecosystem has "arrived," @cardano_whale concluded.
Another Cardano (ADA) enthusiast, who goes by @Cinnamon__Bunnn, also pointed out that this is how a blockchain ecosystem should look like in its infancy. However, they were not happy about the manner in which some people "pride themselves on staying out of drama."
As covered by U.Today previously, in June 2023, Cardano (ADA) inventor Charles Hoskinson slammed critics who accused him of spending "others' " money.
A wave of criticism raged when Hoskinson shared the details of his ocean expedition.
Project Catalyst under criticism, here's why
Another scandal involved Project Catalyst, a large-scale Cardano (ADA) community incubator. Some enthusiasts found very suspicious applicants who were seeking too much funding.Besides that, the previously unknown RFLXT team claimed that it was cofounded by Charles Hoskinson himself. In total, they asked for 5.8 million ADA from Project Catalyst Fund 10.
Last but not least, in Q3, 2023, a series of announcements about "rugpulls" on Cardano (ADA) were spread on Twitter. Teams of tokens CNETA, CHRY, TEDDY, GRABBIT and POP were of malicious manipulations and draining liquidity from their customers.