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My Interview With the MuesliSwap Developers Part 2 of 2

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Written by   335
3 months ago

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

In case you haven't read part 1 yet, you can find it here.

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:

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?

MuesliSwap Team:

We already received quite a few questions about the MILK token from the community. We are still working on some details about MILK. As soon as this is done, we will add an extensive description about the tokenomics. Our main priority is to ensure that everything is done right and properly tested before making the big announcement.

MoreGainStrategies:

That's definitely understandable.

Speaking of doing things right: Have you planned a code audit for MuesliSwap?

MuesliSwap Team:

Yes, that is definitely something we have planned. As doing audits is expensive the presale will help us to finance this. The currently deployed contracts are compiled from the original Uniswap contracts. All of these are open-sourced on Github and have been audited before. Users can check our Github repository and diff it against Uniswap. Moreover, they can also compile the contracts themself and ensure the byte code is matching with what's deployed.

MoreGainStrategies:

That is reassuring. As they say, in DeFi verifying the code is more important than trusting the people behind it.

Speaking of this topic:

I read that you want to avoid "personal attacks" by remaining anonymous for the time being. Could you elaborate on that? What kind of attacks do you predict? And how can your anonymity help to prevent such attacks?

MuesliSwap Team:

Staying anonymous is something that is done very often in the crypto space. For multiple reasons, we didn't announce our personalities. For instance, we don't want any unwanted publicity. Meaning people spamming our personal accounts etc. For now, we also don't want this project to conflict with our regular work. If MuesliSwap would manage to become an established part of the smartBCH ecosystem we will definitely reconsider.

MoreGainStrategies:

Thank you for this explanation.

I agree that the code for MuesliSwap can be verified in the way that you described and therefore, using the DEX is safe even without knowing the identities of the developers.

When it comes to the presale of MILK, people may be more cautious. The BCH community has recently experienced quite a few rug pulls of SEP20 tokens by anonymous creators. It is definitely noticeable that most members of the community have become very cautious. DeFi is supposed to be all about the code - without the need to trust the people behind the code, but especially when it comes to presales, in the end the buyers have to trust that the sellers won't rug pull them.

How can you convince potential buyers to participate in the MILK presale? Is there any mechanism that you can put in place to allay supporters' fears of a rug pull?

MuesliSwap Team:

We already have quite a few convincing points. Our exchange has already some basic trading functionalities in place. Moreover, all our contracts are open sourced. We can only reassure that MuesliSwap is here to stay. For a DEX it would also not make sense to stop at the beginning of the journey. If you are buying MILK in the presale you will immediately receive them. Moreover, the presale will be done by a smart contract. We think this should be a good foundation of trust. We are still discussing what else can be done to increase this trust. Moreover, any suggestions by the community to build more trust in the project are highly appreciated.

MoreGainStrategies:

I agree, forking and deploying a DEX seems like a lot of extra work - that would be unnecessary - if you were just interested in rug pulling.

Maybe some of the readers have a good idea what else could be done to further solidify the foundation of trust.

I have had a look at MuesliSwap and it seems like the functionality is all there already, but unfortunately, there is no liquidity yet. How do you plan to attract liquidity to get the swapping going?

MuesliSwap Team:

This is definitely something important that we are currently working on. As we mentioned previously, there are multiple ways to approach this. We are already in discussion with developers of some of the existing coins on smartBCH. Some of them have already shown interest in participating in liquidity pools on Muesliswap. But of course, in a decentralized market, the bulk of liquidity should come from individual traders. We will be launching farming as an incentive to provide liquidity.

MoreGainStrategies:

That sounds like you are on a good track with MuesliSwap.

I have a couple of questions from the BCH community for you.

The first is:

So far, you only have a Telegram channel where users can get the information about MuesliSwap directly from you. However, users cannot post in a Telegram channel. Do you plan to open a Telegram group where users can interact with you more directly? That may help in building a community.

MuesliSwap Team:

Definitely yes! In fact, we are just preparing to launch a telegram group. This will be posted in our announcement group after some initial setup, such as setting up a telegram bot, most likely today :)

MoreGainStrategies:

I'm sure the person who wanted me to ask this question will be very happy to hear that. 😊

And others most likely as well. 😄

Another question from the community. I assume this question would probably have to be asked to the SmartBCH developers - as this involves a bridge, but I will ask it anyway:

Are there plans to add wrapped coins like wrapped Ether, BTC, etc to MuesliSwap?

MuesliSwap Team:

This is definitely an important question, and it's very likely that wrapped tokens will be coming at some point in the future. Still, Muesliswap is still in a quite early stage and we have not focused on this issue yet.

MoreGainStrategies:

Ok, great.

I have one last serious question before I would like to end the interview with a couple of light-hearted questions from the community.

You plan to deploy MuesliSwap on Cardano in addition to SmartBCH. What are the reasons for choosing Cardano as your second blockchain?

MuesliSwap Team:

The reasons why we chose Cardano are actually quite similar to why we have chosen to launch on smartBCH. We are enthusiastic about Cardano from the technical perspective and we believe that it has a great potential as a blockchain on which the next generation of DEFI services can be built. However, support for smart contracts has only become available very recently and it may take a lot of time and effort until these services are accessible and simple enough for everyone to use. Our goal is to contribute towards making this possible.

MoreGainStrategies:

Nice. I wish you guys and Cardano good luck. It is certainly an interesting project.

How did you - the developer team - find your way into crypto?

And as a follow up question: What is your motivation to be active in crypto?

MuesliSwap Team:

The story is really different for each one of us, but what's common to everyone is that we were just normal HODLers for quite a long time. But it was only during the pandemic when like many people, we have started digging deeper into DEFI and implementing smart contracts, and finally as our experience increased, we have decided to start MuesliSwap. Why? Simply because we believe in crypto as a better alternative to the outdated financial system.

MoreGainStrategies:

Great answer. My own story is actually quite similar. It seems like the pandemic really boosted the interest in crypto and DeFi.

I saved the two hardest questions for the end.

Will we get a bowl of lovelaces muesli as a reward for staking?

And

What's your favorite cheese? Stark or Lannister?

Both are questions from the community. 😂

MuesliSwap Team:

Will we get a bowl of lovelaces muesli as a reward for staking?

If the question aims at asking whether the Cardano MILK will be distributed on smartBCH the answer is no. This has various reasons. One of the main reasons is that the projects may develop into independent directions. The MILK token has a governance function, which means it might happen, that the Cardano MILK community decides to go in a different direction.

What's your favorite cheese? Stark or Lannister?

Being based in Switzerland our favorite cheeses are from Switzerland. Our personal favorite is the classical Appenzeller cheese.

MoreGainStrategies:

The person who asked this question lives in the UK. I wasn't able to confirm this, but I assume that Lovelace's muesli is a brand that is sold there. 😁

Our personal favorite is the classical Appenzeller cheese.

I will definitely have to try that one.

Before we end the interview, I would like to ask you: Is there a topic we haven't covered and should still cover?

MuesliSwap Team:

No, we think the interview already covered the most important topics and questions MuesliSwap is facing right now.

MoreGainStrategies:

Alright, thank you very much for having answered the numerous questions with Swiss patience and care.

I hope the readers and the Bitcoin Cash community can gain a valuable insight into the MuesliSwap project from this interview.

I wish you all the best for the future development of MuesliSwap and I am personally very interested in the project and will definitely keep an eye on it. I'm also tempted to provide liquidity and earn a bigger share of the trading fees on MuesliSwap compared to what I would receive on BenSwap.

MuesliSwap Team:

We want to thank you once again for doing this interview about MuesliSwap and the great effort you put into this interview. We really think MuesliSwap has an exciting journey ahead and bringing it closer to the community certainly helps in establishing the exchange on smartBCH. We are also excited to hear that you are interested in the project.

Thank you

Thank you for reading 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?

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

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Written by   335
3 months ago
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Comments

I would like them to be more active in the SmartBCH TG group so that we will know how they respond to questions. I got my doubts before with Benswap and Mist but seeing some devs interact in the SmartBCH TG group is reassuring. I still keep some grain of healthy skepticism seeing that they are new entrants to the BCH community.

$ 0.00
3 months ago

That's a good point. However, they do work day jobs in addition to their work on the DEX.

And I myself am struggling to keep up with the plethora of messages on Telegram. 😅🙈

By now they have a Telegram group in which you can interact with them: https://t.me/MuesliSwapofficial

$ 0.00
3 months ago

Got milk? :D :D This is something to look forward to.

$ 0.00
3 months ago

They have recently announced their presale of MILK. 😊

$ 0.00
3 months ago

Great interview. I'm still curious why they wouldn't share what their supply of MILK will be. I don't think sharing that would have any impact on their plan to "ensure that everything is done right and properly tested".

Also, good questions but some answers like this have gotten me thinking...

"If you are buying MILK in the presale you will immediately receive them. Moreover, the presale will be done by a smart contract. We think this should be a good foundation of trust. "

I'm sure that those projects who'd done the rug pull also could have given the same assurances for their tokens. No?

$ 0.00
3 months ago

You are absolutely correct. I was hoping to break some news about the MILK presale and tokenomics, but unfortunately that wasn't the case.

You are right, receiving the tokens by a smart contract does not mean that the token is rug pull proof. However, if the DEX is being used and distributes MILK as farming rewards, then I doubt that a rug pull would kill the token - unless the developer tax is very high.

I believe that for the developers it will be more profitable to actually run the DEX than to rug pull the presale buyers. But of course, that's not a guarantee. That's just my guess.

$ 0.00
3 months ago

I'm experiencing what I call the Wet Paint Syndrom. "Wet Paint. Do Not Touch." But still, I can almost guarantee you that I will touch it. This is how I feel about this project. Am watching closely.

$ 0.00
3 months ago

They have finally announced the presale and also clarified some questions. Have a look here: https://t.me/muesliswap_dex/7

$ 0.00
3 months ago

Thanks for the headsup. I still have some concerns. Have DM you.

$ 0.00
3 months ago

Could you please provide a link to their TG?

$ 0.00
3 months ago

Good point. 👍

I will add these links to the article.

https://muesliswap.com

https://docs.muesliswap.com

https://t.me/muesliswap_dex

$ 0.00
3 months ago

Thanks, I investigated on their sites and the information provided is very limited, except that they point out Cardano many times... thats suspicious to me, might just be a trap to get more users on Cardano

$ 0.00
3 months ago

I think this is a great opportunity again for smart BCH to gain more diversity. Maybe in the future there are several dexes available. Looking forward to their presale.

$ 0.00
3 months ago

Hmm.. This quite convinced me to buy some of their tokens 🙂 thanks for the interview Morgie.. This helps a lot.. Btw, when is the presale? 😅 I haven't read the first part yet

$ 0.00
3 months ago