There is a fully functioning DEX live on Cardano that no one talks about. I tested it today and works great.

Cardano got a lot of hate in the past few weeks about the lack of dapps. While everybody is waiting on Sundaeswap & Co, Muesliswap quietly developed the first DEX on Cardano which is already live on mainnet. Admittedly it looked a bit dodgy at first because the dev team was completely anonymous and the DEX appeared out of nowhere. But this changed as they gave an interview recently:

https://www.youtube.com/watch?v=w3DpuwGoiyE

That’s what made me give them a chance and try out their DEX. And what can I say, it works great! I like the fact that it is more like a DEX spot exchange unlike uniswap or pancakeswap. You can place a limit order so you know exactly how many tokens/which price you get after the purchase. Here is a short video of my purchase:

https://streamable.com/r8m8nx

If you want to try it for yourself, here is a short how to:

  1. First you need a compatible wallet. For now, they support Nami, Gero and CCvault. I choose Nami for my test.
  2. Go to https://ada.muesliswap.com/ and connect your wallet
  3. Go to https://ada.muesliswap.com/markets and choose the token you want to buy
  4. You can either set a price by yourself by clicking the big green buy button or choose one of the existing sell orders on list below
  5. Choose the amount you want to buy and submit the order
  6. Check if the order is correct and click place order
  7. Sign the order in your wallet
  8. Done. Now you have to wait until you have at least 10 confirmations on your transaction. You can check that on cardanoscan. After that, your buy order will get matched with a seller. This may take while as you need someone who matches your price and I think volume is a bit low for now.

I think the future for ADA looks bright. I am looking forward for more dapps in 2022!

submitted by /u/SonicRC
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