- MuesliSwap, a popular Cardano DEX, is planning a self-service refund site for users affected by high slippage fees over the past year. This follows community concerns over refund delays.
- Originally MuesliSwap promised the refund site 3 months ago, but it has been delayed. For now, users must request refunds via Discord support tickets.
- Despite delays, MuesliSwap remains committed to making the refund process right for affected users. The self-service site aims to streamline refunds when launched.
The popular Cardano-based decentralized exchange MuesliSwap has announced plans to refund users affected by high slippage fees over the past year. This comes after community members voiced concerns over delays in the refund process.
MuesliSwap Background
MuesliSwap is one of the most used decentralized finance (DeFi) protocols on the Cardano blockchain. The platform currently has over $14 million in total value locked (TVL) across various tokens, according to DeFi tracking site DefiLlama.
High Slippage Fees
In August, numerous MuesliSwap users reported experiencing high slippage fees over a 12-month period. The MuesliSwap team attributed these losses to misunderstandings about how slippage works on their platform. Slippage refers to the difference between the expected price of a trade and the actual execution price, often due to low liquidity.
Refund Process
Originally, MuesliSwap promised a self-service refund website to go live around 3 months ago. However, this has been delayed. For now, users can seek refunds by opening a support ticket on Discord and providing wallet details. The refund will be processed manually and paid out in ADA tokens.
The planned self-service refund site aims to streamline this process by allowing users to automatically connect to the Cardano network and receive refunds. There is no set timeline yet for when this site will launch.
Looking Ahead
Despite the delays, MuesliSwap remains committed to making the refund process right for affected users. The coming self-service refund site should greatly improve the user experience. In the meantime, users can continue to request refunds via Discord support tickets.
Conclusion
The need to refund users highlights the risks of slippage inherent to decentralized exchanges. However, MuesliSwap’s response demonstrates their commitment to building a fair and trusted platform on Cardano. As they work to refine the refund process, MuesliSwap remains one of the leading DeFi protocols on the blockchain.
