Cardano

<figure> 
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a> 
 </figcaption> 
</figure> 
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." 
<h2 id="launches-rugs-drama-cardano-ada-ecosystem-has-arrived-community-says">Launches, rugs, drama: Cardano (ADA) ecosystem has arrived, community says</h2> 
Pseudonymous Cardano (ADA) enthusiast who goes by&nbsp;@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. 
<blockquote class="twitter-tweet"> 
 Even though I don’t have a huge desire to participate in it as a twitter personality, kind of loving the chaos in Cardano these days. Launches, rugs, fights and drama, people doing 10x, people getting rekt, Catalyst 40% gems and 60% garbage, hype, FUD. This ecosystem has arrived— ADA whale (@cardano_whale) <a href="https://twitter.com/cardano_whale/status/1687193223708504066?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 3, 2023</a> 
</blockquote> 
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&nbsp;@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. 
<h2 id="project-catalyst-under-criticism-here-s-why">Project Catalyst under criticism, here's why</h2> 
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&nbsp;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 <a href="https://twitter.com/ADA_Propaganda/status/1686287041552637952" rel="noopener noreferrer nofollow">accused</a>&nbsp;of malicious manipulations and draining liquidity from their customers.

Cardano (ADA) Ecosystem Has Finally Arrived, ADA Community Activist Says

Table of Contents

U_Today

Other articles published on Aug 4, 2023

The Money Game: Is P2E the New Blockchain Reality or a Pyramid Scheme?

A Detailed Guide on How the Bitcoin Nodes Work for Crypto Users

Solana Price Analysis: Can SOL Break Above $30?

SEC Chief Gensler Prioritizes AI Regulation for Finance

Elrond, VeChain, Or Tradecurve? Where To Buy For 100x Gains

Coinbase’s Chief Lawyer Shares His Take On SBF’s Bail Controversy

Join our free newsletter for daily crypto updates!