On November 26, 2021, MuesliSwap successfully launched a decentralized exchange on Cardano mainnet, making it the first among many competitors to leap into this new era of DeFi on Cardano.
With MuesliSwap, a novel approach for modelling and implementing a DEX on Cardano is proposed by revisiting the traditional order book model. The exchange protocol draws from game-theoretic concepts and distinguishes itself from alternatives through simplicity, modularity, self-regulation, and full decentralization, thus paving the way for MuesliSwap to become the first operational DEX on Cardano. For technical details, we refer to the scientific whitepaper outlining the results of MuesliSwap's rigorous research.
The approach to token trading by the MuesliSwap Team distinguishes itself from the popular approaches to trading, taking into account the Cardano transaction model. The EUTxO model of the Cardano blockchain makes it possible to use the order book model as a decentralized exchange, in contrast to the AMM model used on other blockchains. MuesliSwap will support limit orders bringing full control to your investments. What's more, the innovative protocol offers fast transaction settlements paired with low fees and protects against frontrunning.
Overall, MuesliSwap aims to enrich the Cardano Defi ecosystem with a range of new trading features, not only limiting itself to Token Trading but also an NFT Marketplace and a decentralized Token Launchpad.
The token MILK is the utility token that powers the Cardano MuesliSwap ecosystem. It has many useful benefits, available for pre-sale until a few days after launch.