MuesliSwap
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FAQ
Frequently asked questions
General
Question: How does MuesliSwap DEX work? Is there a high level description?
Answer: We created an exhaustive blog post about the trading concepts of MuesliSwap on Medium. Technical details can be found in our white paper outlining the MuesliSwap Cardano DEX.
Question: Is the smart contract secure? Is there a security audit?
Answer: Yes - our v2 Smart Contract has been audited by MLabs. The v1 code is publicly available and has seen many internal and independent community reviews. In general, the approach of using a decentralized order book is much less vulnerable to exploits. Funds are only temporarily locked until the corresponding order is filled, which reduces the locked amount (and risk) in comparison to liquidity pools.
Question: I would like to try out the concept without using real ADA. Is there a testnet version?
Answer: Yes - we are running a development version of the DEX that is publicly accessible and running on testnet at https://testnet.ada.muesliswap.com/. Make sure to configure your wallet to operate on testnet when using this site.
Question: Where can I find the Smart Contract I am interacting with?
Answer: We published all the code regarding our Smart Contract in our GitHub repository: https://github.com/MuesliSwapTeam/muesliswap-cardano-contracts. Feel free to build the contract and compute the address locally to be sure you are interacting with the right address. Our contract can be observed on cardanoscan and other blockchain explorers viewing this address:
addr1wy2mjh76em44qurn5x73nzqrxua7ataasftql0u2h6g88lc3gtgpzQuestion: How can I submit suggestions/changes for token listings? How can I get my token listed?
Answer: We are receiving many requests for listed tokens every day. Please submit your request in our GitHub repository for us to consider it: https://github.com/MuesliSwapTeam/muesliswap-cardano-listing.
Question: What are the official handles/ social media accounts of ADA MuesliSwap?
Answer: Below is a list of official representatives of MuesliSwap on different platforms:
- Telegram: @muesliswap_ADA and @fabi_muesli
Wallets
Question: I bought tokens with my Nami Wallet, but I received collectibles?
Answer: Nami wallet has a display bug, where tokens could be displayed as collectibles. By hovering over the collectible, you will see the amount of token you received. You can double check on pool.pm or by using another wallet that you have indeed received the correct amount of tokens.
Question: I am trying to place orders with my Hardware Wallet (i.e. Ledger) but the order fails!
Answer: Hardware wallets like ledger do currently not support interactions with Smart Contracts. Please consider creating a Software Wallet, to which you can send small amounts for trading.
Question: Is there any mobile wallet support?
Answer: We are not aware of any mobile wallet with dApp support. Using browsers like Kiwi browser or Yandex browser, some wallet Chrome extensions like Nami can be used on mobile devices.
Trading
Question: Why doesn't my order get matched?
Answer: First of all, note that MuesliSwap is an order book-based exchange, meaning unlike liquidity pool based exchanges, orders are pending until an accordingly priced matching order is found. This means if you set the buy price too high compared to what sell prices are currently available on the market, your order will not find a match. A second point is that in the current version of our protocol, only equally sized orders will be matched, i.e. don't be surprised if there is an opposite order with matching price, as long as it is of different size, the match won't happen.
Question: What happens to my ADA / tokens when I place a trade?
Answer: Being a decentralized exchange, MuesliSwap does not hold any assets. Instead, these are stored on the blockchain and protected by a validator script. The assets may only be unlocked if certain conditions are met. These are: a) the trade succeeds, and you get the ordered value, or b) the order is canceled by you.
Question: I can not cancel my order! What is happening?
Answer: There can be several reasons an order can not be canceled. First, make sure to set a collateral in the Nami Wallet. This can be done under Nami Settings -> Collateral. Also, it may be necessary to try several times before the order works. Or, the order has been matched already, in which case you should see the received funds in your wallet. If you have already put a collateral and canceling did still not work, try removing it and setting it again. If it did not work after some attempts, please reach out to us.
Question: My order was matched, but I don't see my funds! What happened?
Answer: There is a known issue with Nami wallet, where the funds have been returned to an address that belongs to you, but Nami wallet doesn't show this balance correctly. Please check the "My Trades" page. There should be a button displaying "Claim Funds". Click it to transfer the funds to your main address.
Question: What fees are being paid to use the service?
Answer: The main amount of funds sent to the contract is the amount of token you want to sell or the amount of ADA which you are willing to spend on tokens. This is accompanied by 1.5 ADA, which is the minimum amount of ADA in any transaction on the Cardano network. An additional 0.6 ADA are sent to reward matchmakers for matching your order and to cover Cardano network fees.
Question: Can MuesliSwap access my wallet?
Answer: No. When you place an order, this is done entirely in your browser and has to be signed by your wallet. We do not receive any data. Note: never share your private keys with anyone!
Question: Are there any risks involved in trading ADA/tokens?
Answer: As always, investing comes with certain risks. When you buy an asset, is value may increase or decrease over time, which may result in gains or losses. As a rule, never invest more than you are willing to lose.
Network Congestion
We receive many questions due to the congestion of the Cardano network. Here we answer a few:
Question: I have successfully placed an order, but I have not received any tokens, nor does it appear under "My Orders". What should I do?
Answer: If your order was successful and did not result in any error message, you will soon be able to see it in your transaction history. However, it can take up to a couple of hours until you receive your funds or see your order under "My Orders". Please do not repeat the same transaction unless you would like to order/sell additional tokens.
Question: Help, I can not cancel my order.
Answer: The congestion can delay submitting transactions, even when setting a collateral. It might be that a previous transaction that uses the Collateral UTxO is still pending. Please wait for a while and try again until the cancellation succeeds.
Question: I keep getting a fullMempool error, what should I do?
Answer: This error is also due to congestion and is mainly reported when using Nami wallet. Please try using a different wallet. If that does not resolve the issue, please wait for a while and try again.
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Last modified 2mo ago
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