MuesliSwap April Twitter Space Write-Up

Hello everyone! As always, it’s great to see so many of you at our monthly calls. We appreciate your continued support for MuesliSwap and our mission to provide a decentralized exchange (DEX) on the Cardano blockchain.

We have some exciting updates to share with you all, so let’s jump right in.

Advanced Analytics

We’re getting close to launching advanced analytics, which will allow you to access analytics regarding the trades placed through our DEX Aggregator. This is a great step forward in providing better insights and data to our users. We have already implemented support for the MinSwap protocol and are now adding the other supported DEXs, Wingriders and SundaeSwap.

Multi-Hop

Our multi-hop feature has been deployed and is already seeing volume. However, we want to remind everyone that this feature is not available for MILK. The reason is that the MILK/ADA pool is on Plutus V1 which is not compatible with our Multi-Hop features. We are working out something to organize a coordinate liquidity mover event to Plutus V2, ideally together with a token swap that would add decimal places to MILK. The latter should be decided upon by our governance though.

Milk Governance

Our governance initiatives are progressing well. There are two parts to this initiative, one is off-chain funded through Catalyst. In this part, the backend parts are ready, voting works, and we have successfully conducted test elections using mainnet Cardano wallets. We are now focusing on improving the UI/UX and want to show off our progress as soon as possible!

Further, we worked out how the voting process should be and are proposing this as a first go:

1. Suggest topics to vote on in the governance forum
2. Preview is visible to all users
3. Chain Snapshot taken at a fixed time (fixing voting power)
4. Voting window opens (after snapshot)
5. Results are published after voting, and a proof system ensures the count is accurate

Regarding voting power of individuals and how to handle the different interests of smaller and larger investors, we will work out a list of open topics. Ideas include approaches like quadratic voting. However, all approaches are difficult to verify effective until there is any form of onchain identity solutions. For now, we will therefore plan to make one MILK token equals one vote.

We are also looking into on-chain governance, which would enable voting. To this end we are planning to collaborate with solution providers like Agora.

Opshin Project

The Opshin Project is making great strides in providing a Pythonic smart contract language. We launched the Opshin Pioneer Program and the Opshin Starter Kit to help users get started with this exciting initiative.

GitHub - OpShin/opshin-pioneer-program: This repository hosts an opshin/python implementation of…

This repository hosts an opshin/python implementation of the lectures of the Plutus Pioneers Program, a training course…

github.com

Further Emurgo is hosting a webinar together with the founder of OpShin to introduce the next generation of Cardano builders to Pythonic Smart Contracts. The on-chain token verification project is already building on top of OpShin smart contracts. Check it out here:

GitHub - MuesliSwapTeam/onchain-token-verification: This service is meant to establish a shared…

This service is meant to establish a shared standard on how trusted entities (such as well-known DEXs, Foundations…

github.com

Lace Integration

We have integrated Lace on MuesliSwap as a DApp connector. This is a great step forward in providing more value to our users.

Lending MILK on AADA

We are working with AADA to have the price feed for MILK fetched from the MuesliSwap liquidity pools, which will enable lending/borrowing of MILK on AADA.

Q&A Session

During our Q&A session, we had some great questions and suggestions from the community:

Q: Are you planning to implement advanced trading features like Stop Loss?

A: Yes. We have the technical parts of this figured out already. However, for a safe deployment, we need a healthy and liquid market to prevent mis-triggered stop losses.

Q: Are you planning to bring over liquidity from other Chains or support Cardano building projects to increase TVL on MuesliSwap?

A: We are exploring bridges and projects that are gaining value or moving to Cardano to increase liquidity. However, we generally can not encourage the usage of bridges, since they are generally centralized and prone to failures. We are staying in contact with the community and project builders to see how we can natively bring more value on Cardano.

Q: Have you considered implementing priority listings? I.e. if a new token launches on Cardano DEXs, only MILK holders would be able to trade it for a number of days?

A: Technically this is possible. However generally, as soon as the token is available on-chain, it will instantly be tradeable on any DEXs. Gatekeeping the trading on MuesliSwap to MILK holder would only make them choose a different platform instead and make the website loose customers.

Q: Have you looked into using the new Milkomeda features to make use of the Milkomeda MuesliSwap DEX directly on Cardano Mainnet?

A: We have looked into this initiative, but we still have many open questions. We can’t say how and if this will work in the expected way until the feature properly launches.

Q: Are you planning to launch an Ambassador Program?

A: We are exploring an Ambassador Program to increase outreach and promote the project. We are generally not opposed to this idea. Our plan is to use governance to decide the amount and size of rewards for such ambassadors.

Q: Please show in the UI how much MILK users are holding.

A: Thanks for this suggestion! We will definitely build this to emphasize MILK as the main governance and utility token on MuesliSwap.

Q: Can you provide more Video tutorials on how to use MuesliSwap?

A: Yes, thanks for the suggestion!We have started a channel on Discord with descriptions and will compile them into a video. We will focus on multi-hops and the DEX aggregator. We will also look into working together with other YouTubers to promote MuesliSwap.

Q: What is the status on the Aggregator V2?

A: We are plannign to launch the Aggregator V2 with partners like Eternl. We will launch the beta on MuesliSwap in May and the full production soon after.

Q: Can you show trades on the MuesliSwap website immediately after submission? Not only when it is on chain?

A: We are currently working on this initiative and will update the community as soon as possible.

Q: What is the status on MuesliLend?

A: We are putting together existing lending protocols for MuesliLend, but we are waiting in general for the lending market to gain more traction until we pursue this further.

Conclusion

As a team, we’re dedicated to building a robust DEX on Cardano. The monthly Twitter Space provides an excellent opportunity for us to engage with our community and share our progress. We’re always looking for ways to improve the user experience, increase liquidity, and provide better governance solutions. We look forward to sharing more updates with our community in the future.