Cardano’s Sidechain Milkomeda Calls It A Day

It’s been a wild ride, but as @Cardano moves into a new era, we have to recognize what no longer fits its future.

Milkomeda will shut down in four months. Please withdraw your funds before September 1 (00:00 EST).
Any funds left after that deadline will be frozen.

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— Milkomeda (there is no token) (@Milkomeda_com) April 22, 2025

A large portion of my Cardano and crypto work life was on this chain. The vision most certainly there but a series of unfortunate events destroyed it all.

I felt every bump along this ride. https://t.co/Bn7fHtJ9XJ

— Pete | Beware of Scammers (@astroboysoup) April 23, 2025

Back in 2021 i used to mine ETH, send it through Multichain, swapped on Milkomeda, then bridged over to Cardano… Good memories 😢 https://t.co/QKt8qcto02

— Mick – CLINK (@_Cardanolink) April 22, 2025

I had a bunch of stuff churning on @realmilkyswap what happened to them? I never actually found out. https://t.co/7WqnkI9rU3

— Kevin Mohr (@My__X__Account) April 23, 2025

This is what happens when we keep focusing on adding more tech without any advertising or marketing.

And yet here you are being gaslit into withdrawing about 200M ADA from the treasury to fund IO's new tech stack, and to once again ignore any marketing.

Didn't @_KtorZ_ say he… https://t.co/XZdmYjZLMx

— Oomfie (@Oomfiefurrypost) April 22, 2025

We wanted to clear up two misunderstandings once and for all:

1) Was Cardano the problem for Milkomeda?

2) Did Milkomeda ever have product–market fit (PMF) or even a chance at it?

Quick thread 🧵

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— Milkomeda (there is no token) (@Milkomeda_com) April 24, 2025

I've been wanting to do a video about it for the last year.

Nomad bridge hack
Multichain bridge arrest of the CEO in China
These killed liquidity coming in.

No unique ecosystem token e.g $DUST on Midnight
Metamask

There is more but I'd be getting picky.

— Pete | Beware of Scammers (@astroboysoup) April 23, 2025

A wallet linked to the $200 million hack of the Nomad Bridge in 2022 has transferred 14,500 ether to sanctioned coin mixing service Tornado Cash, according to blockchain security firm @PeckShieldAlert. By @oknightcrypto.https://t.co/RG45vQlS2x

— CoinDesk (@CoinDesk) August 8, 2024

The Multichain service stopped currently, and all bridge transactions will be stuck on the source chains.

There is no confirmed resume time.

Please don’t use the Multichain bridging service now.

— Multichain (Previously Anyswap) (@MultichainOrg) July 7, 2023

1. On May 21, 2023, Multichain CEO Zhaojun was taken away by the Chinese police from his home and has been out of contact with the global Multichain team ever since. The team contacted the MPC node operators and learned that their operational access keys to MPC node servers had…

— Multichain (Previously Anyswap) (@MultichainOrg) July 14, 2023