On Wednesday (October 5), Cardano-powered decentralized exchange (DEX) MuesliSwap announced that it has launched Plutus v2 contracts as well as liquidity pools to become “the first DEX on Cardano with order book and AMM trading.”
And we are LIVE! 🔥📢
We have officially launched Plutus v2 contracts and liquidity pools, making us the first DEX on #Cardano with order book and AMM trading.
We’ve been looking forward to this day for months and we’re so excited to share it with you! pic.twitter.com/0S2LGHaf1K
— MuesliSwap (@MuesliSwapTeam) October 5, 2022
In a subsequent tweet, the MuesliSwap team noted that “yield farming with double and triple yield opportunities will be introduced in the coming weeks.”
MuesliSwap’s blog post started with a brief history of the popular DEX:
“In November 2021, after the Alonzo hard fork brought Cardano support for smart contracts, we launched the first Cardano-native decentralized exchange based on a simple model where eUTxOs correspond to orders in a decentralized order book locked in a smart contract are. A lot has changed in the ecosystem since then.”
It went on to say how Cardano’s Vasil upgrade, which took place on September 22, helped MuesliSwaap:
“Now, after the Vasil 2022 hard fork, we are launching the next development iteration focused on leveraging new Vasil features for improved efficiency and user experience. Among other things, this iteration will bring liquidity pools that interact directly with our existing order book, along with significant improvements in transaction size and costs. The improvements to come are made possible by the recent upgrade of the Vasil chain (hard fork)…
“The Vasil hard fork focuses on scalability. The upgrade offers many advantages, but most importantly it allows the use of so-called reference inputs. Previously, the complexity of a transaction was limited by the number and size of the smart contracts involved. With reference inputs, this limit has been greatly reduced since size no longer matters! We can now have multiple smart contracts interact in a single transaction, such as B. our unique decentralized order book and our liquidity pools.”
It was then added:
“The same eUTxO model that allowed us to launch MuesliSwap v1 in November now allows us to launch MuesliSwap v2 based on the unique hybrid DEX model. Due to the unique functionalities of eUTxO, we are able to merge our decentralized order book with liquidity pools and offer users a unique trading experience. In particular, it is now possible to automatically execute limit orders using all liquidity tied up in any liquidity pools across the blockchain. This makes the markets on MuesliSwap more liquid and efficient!”
The following is new in MüsliSwap V2:
- Ability to process multiple orders in a single transaction (the “10-fold reduction in transaction size for complexes” allows for “efficient trading even under heavy network load”);
- Support for an LP extended order book (“The new protocol allows orders to be executed by any input – not just by inputs from the same protocol”);
- full interoperability with legacy scripts (“The existing legacy order book and MILK liquidity pool remain compatible with the newly developed order book and pool contracts”); and
- improved support for external market makers (“In the new protocol, the liquidity used to fulfill orders need not come from the protocol itself”).
Do you have any questions about MuesliSwap v2? We’ll talk about today’s launch in half an hour and also do an AMA 🤗
https://t.co/rfoiMCeR3W
— MuesliSwap (@MuesliSwapTeam) October 5, 2022
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