The developers of MuesliSwap, a decentralized exchange built on the Cardano blockchain, have announced plans to provide refunds to users who experienced significant slippage issues throughout the past year. In an announcement on August 8th, the platform admitted falling short in offering adequate clarity on the slippage feature within the MuesliSwap Pool DEX protocol. Slippage refers to the variance in price between the moment a transaction is submitted and when it is ultimately verified on the blockchain. The team explained that DEX users have been paying high slippage for almost a year as a result of the way the decentralized matchmaker was set up. MuesliSwap’s custom slippage was initially introduced to act as an incentive for decentralized matchmakers. The devs said
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The developers of MuesliSwap, a decentralized exchange built on the Cardano blockchain, have announced plans to provide refunds to users who experienced significant slippage issues throughout the past year.
In an announcement on August 8th, the platform admitted falling short in offering adequate clarity on the slippage feature within the MuesliSwap Pool DEX protocol.
- Slippage refers to the variance in price between the moment a transaction is submitted and when it is ultimately verified on the blockchain. The team explained that DEX users have been paying high slippage for almost a year as a result of the way the decentralized matchmaker was set up.
- MuesliSwap’s custom slippage was initially introduced to act as an incentive for decentralized matchmakers. The devs said that it was an “integral part” of the platform’s order book protocol since the very beginning.
- However, the feature ended up causing “some misunderstanding among new users.”
“To make amends, we will be refunding affected users who encountered high slippage on the MuesliSwap pools in the last 12 months from our project funds. A thorough analysis of all trades will be conducted to ensure fair refunds. “
- The reimbursement procedure might span around 3 to 4 weeks as the DEX gathers and validates the necessary data, along with the implementation of the distribution code.
- MuesliSwap also revealed taking the necessary steps to fix the slippage issue in its order book and added that it will continue to provide clear and accurate information on slippage when interacting with its pools.