My Interview With the MuesliSwap Developers Part 1 of 2

This article is part 1 of 2 of my extensive interview with the developers of MuesliSwap - the new DEX (decentralized exchange) on SmartBCH.

The interview took place starting on September, 24th 2021. The communication was text only via the messenger app Telegram.

Everything that I wrote is put in italics. Everything the MuesliSwap team replied is set in regular font.

MoreGainStrategies:

Good morning and thank you for taking the time to do this interview.

I am personally very excited about MuesliSwap - the new DEX on SmartBCH - and I appreciate the chance to ask you some questions on behalf of the Bitcoin Cash community.

Let me just give a very brief summary of what MuesliSwap is - for the readers who may not have had a closer look at your website:

MuesliSwap is a DEX (decentralized exchange) which is intended to operate on SmartBCH first - and also on Cardano later. It is a fork of Pencakeswap V2 - just like the first DEX on SmartBCH - BenSwap. However, there are some differences between the two DEXs that we will talk about later.

The MuesliSwap developer team is from Switzerland and wants to stay anonymous for the time being.

The native token is called MILK. It is both a governance token and it is used to reward users for providing liquidity or for staking tokens on MuesliSwap. It will also be one of the major tokens for swapping one token for another on MuesliSwap.

I see so many questions with which I could start the interview. That's why I let you decide how we approach the topic. What is the most important information that you would like the readers to know about MuesliSwap?

MuesliSwap Team:

Good Morning Martin 🙂 thank you for your time and for giving us the chance to do this interview. MuesliSwap is a new DEX on smartBCH and we would like to become an integral part of the smartBCH ecosystem. For MuesliSwap to succeed we need the support of the smartBCH community. That is why we are currently trying to motivate users to list their coins on the exchange and to provide liquidity. We already opened up conversations with some of the big token creators to ensure a smooth transition to MuesliSwap. We are also planning a presale of the MILK token which will be used as the reward for farming. This will also incentivise users to provide liquidity.

MoreGainStrategies:

That is definitely true. A DEX needs the support of the community to succeed.

As you mentioned the community, I would like to ask you the following question:

How did you learn about SmartBCH? Have you been involved in the Bitcoin Cash community before the start of SmartBCH?

MuesliSwap Team:

The team has been interested in DEFI for quite some time. In the beginning, we were experimenting with projects involving smart contracts on other EVM like chains, such as Ethereum. We stumbled across the smartBCH project and were interested right away. After doing some research we found that there is only one DEX operating on smartBCH, and we decided that there should be an alternative. Moreover, the general idea of MuesliSwap is to not only support Memecoins but to provide a platform for real-world projects.

MoreGainStrategies:

That is definitely great to hear that SmartBCH caught your attention. One of the hopes in the Bitcoin Cash community was that SmartBCH would attract attention and funds from other blockchains. So, welcome to the Bitcoin Cash community!

Have you already formed an opinion about what you like and dislike about Bitcoin Cash and SmartBCH?

MuesliSwap Team:

When announcing the launch of MuesliSwap to the community this week we immediately got a lot of interest. It's great to see that the smartBCH community is welcoming new projects with open arms and a lot of enthusiasm. We like the idea of having a sidechain to an already established secure cryptocurrency based on Proof of Work. And of course compared to Ethereum the fees and transaction times are much lower. This is very important for real-world adoption. The biggest issue that we see right now is that there are not that many bridges between Bitcoin Cash and smart Bitcoin Cash.

MoreGainStrategies:

This is definitely true. I personally believe that low fees and a good user experience are important to onboard the next billion people onto DeFi - and I hope that SmartBCH will be successful at becoming the DeFi for everybody.

It is a fair assessment that a decentralized bridge is needed. The SmartBCH developers are working on it and hopefully, they will finish soon.

Let's start to discuss MuesliSwap in more detail. And we will start with the names.

MuesliSwap and MILK are two food inspired names. What inspired you to come up with the names MuesliSwap and MILK?

MuesliSwap Team:

There is a general trend lately to name projects with food names in a funny way. We wanted to continue this trend with Muesli. Muesli is a very famous breakfast dish in Switzerland. You normally eat Muesli with milk. That is why it is only logical to name the coin powering MuesliSwap MILK.

MoreGainStrategies:

Haha, yeah, I noticed that trend - and being a German, I love Müsli. 😁

How did the MuesliSwap project start? When was the idea conceived? How did you go about implementing it?

MuesliSwap Team:

As mentioned earlier our main motivation to start MuesliSwap was the lack of choice for DEXs on smartBCH. The idea was first conceived during the summer. We first started the exchange as just a project for fun but then we had the thought, why not move this into a serious project? Our team consists of multiple developers that focus on different aspects of MuesliSwap. Our past experience with the UniSwap protocol certainly helped to bring MuesliSwap to smartBCH.

MoreGainStrategies:

It is great to see some competition among DEXs on SmartBCH.

As you mentioned the team, can you tell us a bit about the developers in the team? How many people are in the team and what are their backgrounds and experiences with regard to software development, blockchains and DeFi?

MuesliSwap Team:

The core team currently consists of 3 people. Two developers with a track record in Software Development, Machine Learning and distributed systems. This provides a solid foundation for the development of a DEX. The third team member mainly focuses on social media outreach of the project. But MuesliSwap is growing and we are planning to onboard more people in the future.

MoreGainStrategies:

I find it very reassuring to hear that there is a competent team behind MuesliSwap.

Let's compare MuesliSwap to its only competitor on SmartBCH (for the time being): BenSwap offers 0.2% trading fees for users, but only gives 0.17% to the liquidity providers and pockets 0.03% of the fees. You charge users the same 0.2% in trading fees - and you give all of the fees to the liquidity providers. The difference may not sound like much, but it's actually 17.6% more that liquidity providers earn from the trading fees. Being a liquidity provider myself, I appreciate that very much. What other advantages does MuesliSwap offer over BenSwap?

MuesliSwap Team:

It's great to hear that you already appreciate some of the facts about MuesliSwap. Right now the core functionality of the DEXs are very similar. But in the future we are planing to launch some exciting features that are unique to MuesliSwap. One of these features will for example be the option to trade NFTs.

MoreGainStrategies:

That's great and I am excited to learn about the features when you are ready to announce them.

Another advantage of MuesliSwap that I found was the "expert mode". It seems to be quite handy for doing swaps that change the price quite a lot - for instance if a liquidity pool is mispriced and you want to correct that before adding liquidity. On BenSwap one has to submit and pay for multiple transactions to correct the price while this won't be necessary on MuesliSwap, I assume.

Let's talk about MILK - the MuesliSwap governance token - and its native token that will be used to reward liquidity providers and token stakers on MuesliSwap.

Could you tell us more about the tokenomics of MILK? How many coins will be minted after the presale? Is the supply limited? Will tokens be burnt? Is there a "developer tax" on MILK? What advantages will MILK offer to its holders?

Stay tuned!

Are you curious what the MuesliSwap team answered, then make sure to stay tuned for part 2 of 2 of this interview. The article will be published tomorrow!

Thank you!

Thank you for reading part 1 of my interview with the MuesliSwap developers.

I would love to hear your feedback. What do you think about the project and the team behind it so far?

Let me know in the comments!

Further Information

You can find all available information about MuesliSwap here:

Website: https://muesliswap.com

Docs: https://docs.muesliswap.com

Telegram Channel: https://t.me/muesliswap_dex

Telegram Group: https://t.me/MuesliSwapofficial

You can find the second part of the interview here.