Proposal: Add MILK token to Aada Finance
- Approve
- Disapprove
0 voters
Proposal Description
We would like to add the MILK token in Aada V1 as an asset for lending/borrowing.
Short Summary
MuesliSwap is a decentralized, first native, scalable decentralized exchange on Cardano. MuesliSwap DEX has it as its goal to make trading of any token on Cardano as easy and cost-efficient as possible.
Motivation
Who is posting the proposal? (Decaf - community member)
Project and token overview
MuesliSwap is a decentralized exchange (DEX) on the Cardano blockchain that enables you to trade Cardano native tokens.
Backed by a newly developed token swapping protocol, MuesliSwap aims to become the go-to DEX on Cardano. MuesliSwap uses a hybrid trading model with an on-chain order book connected to liquidity pools, providing crypto traders with features like limit orders. In this model, there is no central order matching authority. Instead, order matching is incentivized and can be performed by anyone, subject to rules fixed in a smart contract.
Explain the positioning of the token in the Cardano ecosystem. How will it benefit the protocol?
MILK is the token that powers the MuesliSwap ecosystem. MILK is the native token of the MuesliSwap platform. The overall purpose of the MILK token is to incentivize participation and drive the growth and development of the MuesliSwap ecosystem.
MILK is the primary token of one of the Cardano pioneers, giving it a fundamental role in the network’s ecosystem. It is tradable on major Cardano DEXs like MuesliSwap, Minswap, Sundaeswap, and Wingriders, including a CEX listing on CoinEx. Moreover, it is available on the Milkomeda blockchain, extending Aada’s popularity further. Ultimately, adding it as a borrowable asset will increase the functionality of both apps and will encourage closer collaboration between Aada and Muesli.
What’s the asset’s utility?
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Priority trading: access to exclusive exchange features
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Governance: Vote on community proposals
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Staking: Participate in the new MILK pools and earn some milky rewards
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More exciting features will be revealed soon. Get some MILK and be part of the exciting MuesliSwap journey.
Token data
Max Supply (MuesliSwap): 10,000,000 MILK
Total Supply (MuesliSwap): 10,000,000 MILK
Circulating Supply (MuesliSwap): 5,860,000 MILK
Diluted Market Cap (Taptools): 18,047,953 ₳ (26.03.2023)
TVL (DefiLlama): $7,955,290 (26.03.2023)
Holders: 6790 (Taptools) (26.03.2023)
Volume 24h (MuesliSwap): 3216 ₳ (26.03.2023)
Conclusion
Adding MILK as a borrowable asset in Aada V1 will be a great leap towards bonding the MuesliSwap and Aada Finance communities. Moreover, it will place the fundamentals for future collaborations between the two teams.
References
Communities
