Global DeFi

Cardano

April

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 <p class="is-style-lead">The Cardano-based DEX MuesliSwap will <a rel="noopener noreferrer nofollow" title="refund" href="https://thebittimes.com/tag/refund.html">refund</a> their <a rel="noopener noreferrer nofollow" title="users" href="https://thebittimes.com/tag/users.html">users</a> <a rel="noopener noreferrer nofollow" title="affected" href="https://thebittimes.com/tag/affected.html">affected</a> by high <a rel="noopener noreferrer nofollow" title="slippage" href="https://thebittimes.com/tag/slippage.html">slippage</a> over the past year.</p> 
 <p>The company explained in a Twitter post that they recognized they fell short of providing adequate clarity on the slippage feature within the MuesliSwap Pool DEX protocol.</p> 
 <p>Slippage can be taken as the price difference between the transaction submission and its confirmation in the blockchain.</p> 
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    <p lang="en" dir="ltr"> Important Announcement! At MuesliSwap, transparency and user education are paramount. We recognize that we fell short in providing adequate clarity on the <a rel="noopener noreferrer nofollow" title="slippage" href="https://thebittimes.com/tag/slippage.html">slippage</a> feature within the MuesliSwap Pool DEX protocol. Our decentralized matchmaker setup allowed each matchmaker to…</p>— MuesliSwap Team (@MuesliSwapTeam) August 7, 2023 
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 <p>The team behind the DEX explained that most of their users have been paying a high slippage rate for the last year due to how the decentralized matchmaker was set up.</p> 
 <p>The refund process will take three to four weeks. During this time, the company will gather the necessary data for the refund and implement the distribution code.</p> 
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 <p>The company took immediate action to fix the slippage issue in the MuesliSwap order book DEX. MuesliSwap is currently the fifth-largest protocol in Cardano, having a TVL of 17.3 million. </p> 
 <p>Since the beginning of August, MuesliSwap’s TVL has dropped 27%, and it’s currently down by 68% compared to its all-time high from April 2022.</p> 
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  <img decoding="async" loading="lazy" width="1092" height="605" src="https://cdn.thebittimes.com/images/2023/08/09/43f26bb10efafafbf997c031ffb8980a.webp" alt="Muesliswap TVL drop | Source: DefiLlama" class="wp-image-14184213"> 
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    Muesliswap TVL drop | Source: DefiLlama 
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 <p>In December 2022, MuesliSwap launched a stablecoin yield farm dubbed Organic APR. The main purpose of the new cryptocurrency was to incentivize liquidity allocation for the synthetic stablecoin IUSD.</p> 
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  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Muesliswap launches stablecoin yield farm on Cardano 
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MuesliSwap will refund users affected by slippage

TheBitTimes

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