A long time ago, in a blockchain far, far away, there was a DEX known for serving a healthy and delicious breakfast to its happy community.
Being a premier DEX on the Cardano blockchain, MuesliSwap strives to bring the best experience to its users. However, in recent times turmoil has engulfed the Cardano blockchain! The chain’s popularity attracts countless new users, and network congestion threatens the experience of the MuesliSwap community.
To take some load off the main network until the congestion is resolved, we will introduce MuesliSwap M1: An Automated Market Maker (AMM) DEX on the Milkomeda sidechain. This will not only help to position MuesliSwap as the main DEX but also help to deploy an AMM much earlier than anticipated by leveraging the capabilities of the M1 sidechain. That means MuesliSwap will operate an order-book DEX on Cardano mainnet and an AMM DEX on the M1 sidechain. When the time is right, we will merge both worlds together!
What is Milkomeda M1?
Milkomeda is a protocol that equips Cardano with the power of the Ethereum Virtual Machine. Similar to a portal between two galaxies like the Milky Way and Andromeda, it connects the Cardano blockchain with Ethereum, allowing you to enjoy the best features of both blockchains.
Why Milkomeda and how does this help me?
Since Milkomeda is an EVM-compatible side chain bridged to Ethereum, users can benefit from easy access to existing smart contracts and DeFi services built on the Ethereum ecosystem. These complement well with Cardano and make it possible for us to bring the most anticipated tokens much earlier than anticipated to MuesliSwap users. Thanks to the Ethereum bridge MuesliSwap M1 will be able to offer trading in Wrapped Ether, USDT, USDC and many other assets.
We are hoping to enable trading across these two networks, which is why we have decided to launch MuesliSwap M1. For the time being, users may also avoid the current network congestion by executing their trades on MuesliSwap M1. Additionally, this also allows us to test liquidity pools, which we plan on adding to our Cardano mainnet DEX in the middle of 2022.
How does this affect the main MuesliSwap DEX?
Of course, the MuesliSwap DEX on Cardano mainnet remains our core product!
You can see MuesliSwap M1 as an extension to our mainnet DEX, providing you with Automated Market Maker capabilities much earlier than anticipated. This will make it possible for the user to select their favorable trading model.
Wen MuesliSwap M1?
We are planning to launch the testnet version of MuesliSwap M1 in the next few days.
How can I benefit?
You will be able to benefit from providing liquidity into liquidity pools, earning from transaction fees in the process.
MuesliSwap M1 will come with its own special token only for the purposes of farming rewards. This token, which we call Muesli M1 token, will be initially distributed to MILK holders by staking their MILK on their sidechain. But please note that MILK will remain the core governance and utility token of the entire MuesliSwap ecosystem.
We are looking forward to having you on board for this spectacular journey! With MuesliSwap M1, we are taking another step to advance the MuesliSwap ecosystem!
Thanks to your support, we bring your favorite DEX to new galaxies! 🌌🥛
We are planning to roll out a testnet version of MuesliSwap M1 very soon!