What Is MuesliSwap Yield Token?(MYIELD)
MuesliSwap Yield Token is a decentralized exchange (DEX) on the Cardano blockchain that enables you to trade your favorite Cardano tokens. Backed by a newly developed token swapping protocol, MuesliSwap aims to become the go-to DEX on Cardano. The applies the order book model used by traditional stock exchanges to the blockchain, providing crypto traders with features like limit orders.
MuesliSwap is adding Liquidity Pools to both Milkomeda and Cardano mainnet step by step. To incentivize liquidity provision within the MuesliSwap protocol, they introduce the Muesli Yield Token.
Muesli Yield will have a limited set of utilities on Milkomeda (none on Cardano mainnet) and can be staked to earn MILK call options.
By staking the Muesli Yield Token, you can transform it into MILK call options (1 call option = 1 MILK token) with an exercise price of 1 ADA, and without any expiry date.
You stake 100 MYIELD for 30 days to get 1 MILK call option. This staking process can be repeated multiple times untill all of the allocated MILK tokens are distributed.
Important Points Table Of MuesliSwap Yield Token
| Basic | Points |
|---|---|
| Coin Name | MuesliSwap Yield Token |
| Short Name | MYIELD |
| Total Supply | 1,583,070 |
| Explorer | Click Here To View |
| Documentation | View Document |
| Website | Click Here To Visit |
How to Buy the Continental & Trade On Exchange?
MuesliSwap in 30 Seconds
MuesliSwap Yield Token distinguishes two types of users, traders and matchmakers.
- Traders place orders (buy or sell) using the web interface. One order is selling a certain amount of token at a certain price, or alternatively buy a certain amount of tokens for a given price. Upon confirming the trade with a Cardano wallet (such as Nami), the order is locked in a smart contract on the blockchain as a EUTxO.
- A matchmaker constantly scans the blockchain for open buy and sell orders. When such matching orders are found, the matchmaker executes a transaction, fulfilling the order and sending the assets to the respective parties. For this, the matchmaker obtains a small fee.
The orders are locked in a smart contract in the form of an UTxO, and can be unlocked by matchmakers only for a trade that satisfies the trader’s demanded limit price and token amount. A pending order may be canceled at any time by its creator, unless it has been matched already.
Cardano Wallets
Installing a wallet
In order to trade on MuesliSwap, you will need a Cardano wallet that supports dApps. Currently, only the following wallets are supported:
- 1.Nami
- 2.GeroWallet
- 3.CCVault
Note that you will need to use the browser plug-in version of the wallet. Also note that hardware wallets (Trezor, Ledger) are not supported yet. dApp integration for the Yoroi wallet is being developed as well, but currently not supported by us. Using browsers like Kiwi browser or Yandex browser, some wallet Chrome extensions like Nami can be used on mobile devices.
Fee Structure
At MuesliSwap, they are devoted to offering a service with transparent and low fees. The table below shows an overview of the current fee structure used in the frontend. All trades up to 120 ADA are free from any fee charged by . Only a small fee of 0.6 ADA is taken to cover the network costs and to incentivize decentralized matchmakers when matching a transaction.
And, they want to give something back to the community supporting us since the very beginning: That’s why MILK holders will enjoy discounted fees! If you hold at least 100 MILK in your trading wallet, you will enjoy reduced trading fees. A more detailed overview on fee reductions can be seen below.
Swaps (AMMs and LPs)
Next to its orderbook trading features, MuesliSwap Yield Token also has functionality to trade against liquidity pools. These liquidity pools have the benefit of high liquidity, which is supplied by users in a decentralized manner. Read on to learn how to place orders against liquidity pools using the MuesliSwap Swap feature.
Decentralization
Non-custodial model
In a traditional exchange, assets are held by a centralized entity (exchange, stock broker, …). This comes with a significant risk of financial loss if this entity were to be hacked. When using MuesliSwap, funds are held directly on the blockchain, either in traders’ private wallets or in a smart contract. Thus, there exists no intermediary with the ability to misuse users’ funds.
Order transparency
In the MuesliSwap Yield Token protocol, all trades are publicly visible on the blockchain, forever. This way, everyone has the same access to market data, small and large investors alike. At the same time, transparency helps in avoiding market manipulations.
Democratized trading
The MuesliSwap protocol doesn’t rely on trusted individuals with special privileges. This is in contrast to other decentralized protocols, where a dev team has the power to select “validators”. As a rule, these validators make money by arbitrage and reordering transactions in a way profitable for them. Such a protocol is not really decentralized! In MuesliSwap, no such thing exists – everyone can be a matchmaker.
Token Listing
With the introduction of Community trading, every Cardano Native Token can be traded on the MuesliSwap platform. We do not closely moderate unverified tokens, so we encourage users to do due diligence on trading pages that are marked as “Unverified”. Always DYOR and compare the policy ID of the token linked on Cardanoscan with the policy ID of the project’s official homepage.