Shardeum, the Layer 1 blockchain co-founded by Nischal Shetty, is finally launching its mainnet on April 15.
According to Shardeum developers, it will be the world’s first autoscaling EVM chain, and the numbers are impressive: over a million contributors, 80 million+ transactions on testnets, and thousands of validators already on board.
The mainnet launch of Shardeum comes at a time when lakhs of WazirX users are still awaiting the return of their stuck funds from the exchange, which was hit by a massive cyber hack of Rs 2000 crore.
Shetty is the co-founder of the WazirX exchange and is currently handling the restructuring scheme proposed to the Singapore Court, after which the exchange users are expected to receive at least 85% of their portfolio funds as they did before the hack on July 18, 2024.
The voting process for getting the restructuring scheme passed has already been held, with WazirX management receiving an overwhelming 93.1% of votes in their favor. However, users are still expected to await the return of their funds at least till May, as claimed by Shetty himself.
It is in the context of the dilemma and anxiety of users around WazirX that the news of Shardeum, a side venture of Shetty, has arrived.
People trusted WazirX with their hard-earned money. After the hack, the user funds have been stuck in the exchange for the past 10 months, even as the bull run season has come and gone by already. Much to the frustration of WazirX users, Shetty and management have not been very transparent with them.
It’s not just about launching a shiny new Layer 1 chain of Shardeum — it’s about taking responsibility. You can’t move on and build something new while ignoring the people still stuck dealing with the mess from the last project.
People aren’t just asking for innovation —they’re asking for answers. And more than anything, they want their money back.
Also Read: WazirX Restructuring Nears: Court Date Set for May 13 in Singapore
