The first DEX on the Cardano mainnet has launched. The platform uses a traditional peer-to-peer trading model with limit order placement.
MuesliSwap co-founder explained:
In principle, our solution is based on the principles of traditional stock exchanges, but there is one key difference. Anyone can become an intermediary on the MuesliSwap platform. And since there are no liquidity pools, there is less risk of someone taking the liquidity and rendering your tokens worthless, as we often see with Uniswap-based exchanges. Our goal is to combine the best of traditional finance and DeFi.
Currently, the beta version supports nine trading pairs with ADA and its own MILK governance token.
The MuesliSwap team is also preparing a service for issuing tokens and an NFT marketplace.
So far, MuesliSwap is not working entirely correctly, and the first complaints have already appeared on Reddit. The developers claim that these are temporary bugs in the beta version.
The accompanying white paper, as well as the public beta version of the trading interface for the main network, are available on the MuesliSwap web page: https://ada.muesliswap.com.
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