On the 5th of October,MuesliSwap, a premier DEX on Cardano, tweeted that they had launched Plutus v2 contracts and liquidity pools. This announcement was days after revamping their website.
And we are LIVE! 🔥📢
We have officially launched Plutus v2 contracts and Liquidity Pools, making us the first DEX on #Cardano with both Orderbook and AMM trading.
We have been looking forward to this day since months and we are very excited to share it with you! pic.twitter.com/0S2LGHaf1K
— MuesliSwap 🥛 | Hybrid DEX on Cardano (@MuesliSwapTeam) October 5, 2022
In November last year, MuesliSwap started as the premier DEX platform on Cardano barely weeks after the Alonzo Upgrade that introduced smart contracts to the energy-efficient smart contracting platform.
MuesliSwap is taking advantage of Cardano’s new features introduced during the Vasil update. Together with substantial reductions in transaction fees, MuesliSwap is introducing liquidity pools that can communicate with the current order-book.
With the introduction of Plutus v2 Reference Inputs, it means new orders will be of comparatively low sizes. Therefore, the DEX can also now combine several contract transactions before posting on the mainnet. This capability inherently scales the blockchain meaning protocols can continue to operate even during congestion. Moreover, the DEX order-book’s ability to track buy and sell orders simultaneously has been improved with the recent upgrade, which will be to their users’ advantage.
Orders are no longer limited to inputs from the same protocol. With the integration of an automated market maker protocol, third-party protocols can now interact with MuesliSwap.
The compatibility of the old and recent order books has also been guaranteed by the developers. Consequently, there is no need to transfer assets. MuesliSwap will carry on as usual without any problems.
The MuesliSwap team, however, continues to build and not resting on their laurels. Yield farming with prospects for double and treble yields are on the pipeline and set for launch in the weeks ahead.
According to several sources, MuesliSwap is now the fourth-ranked Cardano protocol based on valuation. This swell in valuation can be directly attributed to various updates on Cardano. Over the years, the launch of important updates such as Vasil have made the smart contracting platform more competitive and attractive. Subsequently, more users and projects are drawn, pushing network activity and valuation of live projects, including MuesliSwap.