Alex Dovbnya
MuesliSwap, the first decentralized exchange on the Cardano blockchain, has dramatically improved its efficiency with a new upgrade
MuesliSwap, the first decentralized exchange on the Cardano blockchain, has announced the integration of Plutus v2 contracts and liquidity pools.
Due to the recent upgrade, it is the first Cardano powered DEX that can simultaneously act as automated market makers (AMMs) and support order books.
It is worth noting that the old order book is compatible with the newly released one.
MuesliSwap was the first DEX launched on Cardano back in November 2021. This came shortly after the launch of the Alonzo hard fork, which added smart contracts to the popular Proof-of-Work blockchain.
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The exchange was originally based on the simple order book model, but the exchange has now added liquidity pools.
The introduction of the second version of Cardano’s scripting language allowed the exchange to significantly reduce the size of transactions. This makes it possible to make trading much more efficient.
MuesliSwap’s AMM protocol is now able to automatically execute orders by interacting directly with the order book.
The new feature also allows more complex protocols to interact with DeFi protocols.
According to data from DeFi Analytics DefiLlama, MuesliSwap is the fourth largest Cardano protocol by total value locked at $5.1 million.
Minswap and SundaeSwap rank first and third at $39.14 million and $14.59 million, respectively.
As reported by U.Today, billionaire Mark Cuban recently opined that Cardano’s smart contracts have not had a significant impact over the past year.
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