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Cardano-Based DEX MuesliSwap Plans Refund Site for User Losses – What’s Going On?

In a recent update, MuesliSwap, a prominent decentralized finance (DeFi) protocol operating on the Cardano blockchain, has announced plans to launch a refund platform. This initiative aims to address concerns raised by users who have experienced losses due to high slippage over the past year.

According to the MuesliSwap team, a claims window will be opened for users to request refunds for losses incurred as a result of slippage. The decision follows the expressed impatience of some community members, including @beaumont_dvd, who have been eagerly awaiting the launch of the self-claim refund website. This website was initially promised approximately three months ago by MuesliSwap.

According to a report from CoinDesk, MuesliSwap has clarified that users are already able to request refunds for losses by opening a support ticket on the project’s Discord server.

This process entails users providing their personal wallet details directly to the platform for manual processing. It’s important to note that this manual procedure differs from the upcoming self-claim site, which is anticipated to enhance the refund process. The self-claim site will allow users to automatically connect to the Cardano network, facilitating a more streamlined experience and enabling users to receive their refunds in the form of ADA tokens.

MuesliSwap among the most popular apps on Cardano

Despite the delay in launching the refund site, MuesliSwap remains one of the most utilized platforms on the Cardano blockchain.

According to data from DeFi tracking site DefiLlama, the protocol currently boasts over $14 million in total value locked (TVL) across various tokens.

The demand for refunds surfaced in August when numerous users reported encountering high fees in the form of slippage over a 12-month period. Developers at MuesliSwap attributed these losses to a “misunderstanding” about how slippage functions on their platform. In trading terms, slippage denotes the variance between the actual trade execution price and the optimal market price at the time, often arising due to low liquidity.

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