I can see people throwing “massive red flags” everywhere, but the justification is questionable – number one “massive red flag” is that these guys are anonymous. So what? Satoshi Nakamoto was anonymous and look at how Bitcoin is doing. Anonymity on its own, especially in crypto space is not anything unusual.
Yes it’s not polished very much, there might be some issues, but if you are scared, nobody forces you to use this project.
Purists say their DEX is not 100% DEX because of the bot they use, but frankly speaking, from user perspective I don’t really care if it’s 100% DEX or only 90% DEX, I can connect my NAMI wallet and I can trade with no need for KYC, registration or anything of that sort that is required on traditional CEXes and I get my tokens from matched pairs directly to my on-chain wallet.
Their source code is fake? They did release it, the code is real and clearly it works. The repositories may not be easy to navigate and they didn’t go throught some audit, but it works.
Time will show if these guys behind Muesli are truly honest, but I still think this project is a good thing and I don’t like that Cardano community is so hostile towards them and dismiss them as obvious scam.
So why do I think it’s good for Cardano? Because it works. For last few months all crypto forums were full of Cardano FUD where people were saying that DEX is impossible on Cardano and that there will never be a working DEX. Never, ever. The “legitimate” projects are doing stuff “properly” which means extremely slowly and people were complaining that maybe we should stop doing everything 100% properly because sometimes speed of development is more important in crypto space. I may not agree with these people, you may not agree with these people but they may have a point.
And this is the answer to them. “Quickly hacked together” DEX that didn’t go through any slow paced research, but works nonetheless. A working exchange on Cardano chain. Something you can counter all the FUDders who keep saying “DEX is impossible” with. A proof that it’s possible.

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