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.
Because of the recent upgrade, it has become the first Cardano-backed DEX that can simultaneously function as an automated market makers (AMMs) and support order books.
It is worth noting that the old order orderbook is compatible with the newly released one.
MuesliSwap became the first DEX to launch on Cardano back in November 2021. This happened shortly after the launch of the Alonzo hard fork, which added smart contracts to the popular proof-of-work blockchain.
The exchange was initially based on the simple orderbook model, but the exchange has now added liquidity pools.
The launch of the second version of Cardano’s scripting language made it possible for the exchange to significantly decrease the size of transactions. This will make it possible to make trading much more efficient.
MuesliSwap’s AMM protocol is now capable of filling orders automatically by directly interacting with the orderbook.
The new feature also allows more complex protocols to interact with DeFi protocols.
According to data provided by DeFi analytics DefiLlama, MuesliSwap is the fourth-biggest Cardano protocol by total value locked with $5.1 million.
Minswap and SundaeSwap are in first and third places with $39.14 million and $14.59 million, respectively.
As reported by U.Today, billionaire Mark Cuban recently opined that Cardano’s smart contracts had failed to make a significant impact throughout the past year.