MuesliSwap Addresses High Slippage Issue on Cardano Network
MuesliSwap, a decentralized exchange (DEX) on the Cardano network, has announced that it will reimburse users who have been affected by high slippage over the past year. The protocol acknowledged its lack of clarity regarding the slippage feature and admitted that users had to pay high slippage due to the design of its matchmaker. The team explained that the decentralized matchmaker setup allowed each matchmaker to choose whether to return the additional slippage amount or retain it. This difference served as an incentive for matchmakers but may have confused new users.
Key Points:
- MuesliSwap will refund users affected by high slippage in the last 12 months using project funds.
- A comprehensive analysis of all trades will be conducted to ensure fair refunds.
- The process may take approximately 3 to 4 weeks as data is gathered and validated.
- MuesliSwap will provide clear and accurate information on slippage going forward.
- The DEX protocol is the fifth-largest on the Cardano network with a TVL of $10.41 million.
MuesliSwap has taken swift action to fix the high slippage issue in the DEX order book and has committed to providing clear and accurate information on slippage in the future. The team’s decision to reimburse affected users shows its commitment to addressing the concerns raised by the community. However, it remains to be seen how long it will take to complete the refund process and whether it will successfully restore users’ trust in the protocol.
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