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The Ultimate MuesliSwap DEX Pre-Sale FAQ for $MILK

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Written by   343
8 months ago
Topics: SmartBCH, MuesliSwap, Milk, Pre-Sale, FAQ, ...

Here is the no nonsense FAQ about the MILK presale. I keep everything as short and straightforward as possible.

Enjoy!

MILK Pre-Sale FAQ

What is MILK?

MILK is the MuesliSwap staking and governance token.

What is MuesliSwap?

A new DEX (decentralized exchange) for SmartBCH.

What is SmartBCH?

An EVM (Ethereum Virtual Machine) compatible sidechain of Bitcoin Cash with a focus on high throughput and low fees.

SmartBCH is affordable DeFi (decentralized finance) for the entire world - not just the rich.

What are the advantages of MuesliSwap?

  • Low trading fees of 0.2%.

  • No developer tax on trading fees: 100% of the trading fees benefit the liquidity providers.

  • No developer tax on the inflation of the MILK token.

  • Only 30% of the initial MILK supply go to the developers. They will use a third for providing liquidity and burn another third of that.

  • MuesliSwap will be audited.

  • SEP20 token launch platform (preview)

  • No migrator function. (That means the developers can't steal your liquidity tokens. See next question for more details.)

What's my Personal Take on MuesliSwap?

MuesliSwap offers the most competitive fees for traders I have seen so far on SmartBCH - and all trading fees benefit the liquidity providers. The developers don't take any portion of the fees for themselves (unless they are also liquidity providers).

The fact that the migrator function is not deployed in MuesliSwap is a big plus for me - as this function has been used by other DEXs to steal investors' money.

Because the migrator function is not deployed, your funds cannot be stolen by the developers.

(Sidenote: I have asked the developers about that last point and they told me that the migrator function is not deployed in MuesliSwap. I don't know how to actually verify that. If you are knowledgeable enough to verify that, please leave a comment with your findings.)

When does the presale start?

It starts on Wednesday, 6th October 16:00 UTC and ends on Monday, 11th October 16:00 UTC.

What can I do with MILK?

Right after the pre-sale ends, you can use it for farming on MuesliSwap to earn even more MILK.

Later you will be able to use it to vote on changes to MuesliSwap - or to the token MILK itself.

What is the initial supply of MILK?

1 million MILK.

How is the initial supply of MILK split up?

700,000 tokens go to participants of the pre-sale.

100,000 tokens go to the developer team. The developers can do whatever they want with these tokens.

100,000 tokens are reserved for future token burns. Until then, the developers control these tokens.

100,000 tokens are used by the developers as initial liquidity on MuesliSwap.

Is there a maximum supply of MILK?

No.

What is the inflation rate of MILK?

0.1 MILK per block (every 15 seconds).

The inflation rate may have to be adjusted. Adjustments can decrease the inflation rate. This would be beneficial for the MILK price.

The inflation rate can also be increased if that turns out to be necessary to attract more liquidity providers.

Initially, the developers will decide on these changes. Later on, a voting tool will allow MILK holders to vote on decisions.

Is there a developer tax on MILK?

No. The developers only get the above portion of the initial supply of MILK - and that's it.

They can use their tokens of course to provide liquidity and for staking - which they definitely have to do, otherwise, they won't earn any money from the usage of their own DEX.

Is there a developer tax on the MuesliSwap trading fees?

No. The developers only earn on volume on MuesliSwap if they provide liquidity - just like anybody else.

Is there enough financial incentive for the developers to keep MuesliSwap running?

I think so. They say they are in it for the long run. And if MuesliSwap will be successful, then having ownership of a good portion of MILK will be very profitable.

MuesliSwap is one of the first DEXs on SmartBCH. With its low fees, it has a good chance of success, I believe.

Will MuesliSwap be audited?

Yes, the developers want to pay for the audit with the revenues from the pre-sale.

How does the pre-sale work?

You can invest any amount into the pre-sale smart contract. Until the pre-sale ends, you can increase or decrease that amount.

At the end of the pre-sale, you will receive the percentage of the 700,000 MILK that corresponds to how much money you invested into the pre-sale.

If you invested 1 BCH into the pre-sale and the total investment is 100 BCH, then you invested 1% of the total - and you will receive 1% of the 700,000 initial supply of MILK from the smart contract.

The pre-sale website will show an estimate of how many tokens you will receive at the end of the pre-sale. However, this estimate is based on current investments and changes whenever someone increases or decreases their investment.

Who gets the investments from the pre-sale?

The developers.

What do they do with that money?

They want to pay for an audit of MuesliSwap.

Other than that, they can do whatever they want with it.

Can the developers just participate in their own pre-sale and get even more MILK?

Yes, they could do that. They could pay a large amount of BCH shortly before the pre-sale ends - which would be returned to them afterwards. Such things have happened in the past.

However, the developers point out that they spent a lot of time on MuesliSwap - and such a move would kill the trust in them - which would kill the entire DEX...

Therefore, the incentive to make MuesliSwap a success is greater than the incentive to cheat.

Can the developers rug pull after the pre-sale?

They could, but again: They say that they spent a lot of time and effort on MuesliSwap and want to make it a success in the long-term. A rug pull would kill the DEX instantly. And they will probably make more money if they don't rug pull. At least not in the beginning. And as they only control 30% and there is no dev tax on fees and on the inflation rate, MuesliSwap and MILK may even survive a rug pull dues to a sufficiently decentralized ownership after the pre-sale.

What is the MILK contract address?

0xc8E09AEdB3c949a875e1FD571dC4b3E48FB221f0

Where can I find the contracts?

https://github.com/muesliswap

What are the smart contracts based on?

On the original Uniswap V2 contracts.

What is the MILK code based on?

It's based on CAKE.

Where can I find more information?

Official Presale Info

(The link to the pre-sale itself is on top of the website.)

Telegram Channel (you will only see announcements from the team).

Telegram Group (you can ask questions).

How much did the MuesliSwap guys pay you, MoreGainStrategies? 🧐

Nothing. I am not receiving anything from them for having written this FAQ. I may receive tips from readers on the platform - which are publicly shown below the article.

Everything that I have written is my own opinion. I have no affiliation with the MuesliSwap developers - other than having been in contact with them over Telegram.

If you want to find out more about the developers, you can read my interview with them:

Part 1

Part 2

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Written by   343
8 months ago
Topics: SmartBCH, MuesliSwap, Milk, Pre-Sale, FAQ, ...
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Comments

Personally, I think Muesliswap doesn't offer something really new compared to Ben and Mist. Other coming DEXs, like KoingFu or Squid, do really innovate.

$ 0.00
8 months ago

MuesliSwap offers quite a few benefits when it comes to fees over BenSwap and it offers the removal of the migrator function over MistSwap. Once the MuesliSwap code has been audited, it will also offer an audit over MistSwap.

But yeah, there is no radical new innovation. I'm looking forward to the arrival of new DEXs and I will do some research on the two you mentioned.

I'm still pretty new to DeFi, so I may be easily impressed with marginal improvements in game theory. 😅

$ 0.00
8 months ago

I am looking after their APRs 😅

$ 0.00
8 months ago

Me too! I will be staking from the first second. 😅

$ 0.00
8 months ago

Me too! I will be staking from the first second. 😅

$ 0.00
8 months ago

I do not understand the reasoning to take 30% of the pre-sale under control of devs in a one time payment.

Logically the DEX has maintenance cost and therefore they should take a dev tax to have an incentive to keep it updated and running.

If they would take a fee based tax, they could lower the initial amount to 10% easily.

That would make an exit scam muss less likely.

I wont buy into that presale because of that strange structure of incentives.

$ 0.15
8 months ago

I agree that this is not optimal, but if the presale goes through and the DEX has been running for some time, then I believe the DEX offers very competitive rates and advantages.

They probably have a nice financial incentive to keep the DEX running for the long run, but you raise a valid point that they have a lot of funds flowing in at the beginning. Especially when I see that almost 110 bch were pledged already.

What they could have made a bit better is to take the fees to 0.22% and offer 0.19% to liquidity providers and 0.03% to MILK stakers. That would give a long term value proposition to Milk holders.

Thank you for the generous tip by the way! 💚

$ 0.10
8 months ago

Thank you for the article, you provide me with more value than I tipped, just giving you back your share of our profits 😁 lets launch a DEX together, I have the technical skills and you the followers to promote its structure and launch! Contact me on TG @felizbitcoin im serious about this, I think we can do better than what exists so far! I am dreaming of a DEX with minimal cost for launch, fully serving the community as TRBC has been doing ever since 2017.

$ 0.00
8 months ago

We daily hear about different tokens daily. I think there's still a lot to learn if one really wants to invest in them.

$ 0.00
8 months ago

You are right. I think that a DEX Token like this one can be a good investment - especially if you're early.

$ 0.00
8 months ago

I am still sceptical about the plethora of SEP20 tokens that keep appearing

$ 0.10
8 months ago

Just invest in the top tokens

$ 0.03
8 months ago

I'm just like you. I don't see the point of most tokens. Buying milk tokens to earn more milk tokens is not a goal for me. One goal would be to support another platform besides Benswap and Mistswap to have more choice. In general, I think it's good that the range of platforms is increasing. Maybe that's why I'll get involved a bit.

$ 0.20
8 months ago

I do have some Cats and $ARG, but got them as airdrops and things. I wouldn't invest in any of the current ones as my main strategy is to hold few years and don't know if this fun token will survive so much

$ 0.00
8 months ago

That's a great attitude. 👍

I do like MuesliSwap a lot "on paper" - meaning compared feature for feature with the only two other DEXs which are currently available on SmartBCH.

Such a comparison will actually be my next article to highlight what I mean.

It is close between MuesliSwap and MistSwap - but MuesliSwap plans an audit while MistSwap doesn't. And MuesliSwap doesn't have a migrator function while MistSwap does - currently even without any time lock at all. However, the MistSwap developer promised to implement a time lock by the end of the month.

The trading fees are lower on MuesliSwap.

$ 0.00
8 months ago

I can definitely relate to that. We will probably have several hundred by the end of the year. 😅

Thank you for the generous tip, by the way! 😊

$ 0.00
8 months ago

How about you Martin? Did you get yourself some milk? 😁

$ 0.05
8 months ago

Haha, not yet, I will wait until the end - and have my assets staked in the meantime. 💪😁✌️

$ 0.00
8 months ago