Cardano [ADA] MuesliSwap transaction fees drop by 50%

Cardano’s leading DeFi ecosystem, MuesliSwap, saw 800% growth, leading to a massive reduction in ADA’s transaction fees.

The recent surge on the Dapps front has been attributed to the Vasil upgrade. MuesliSwap decentralized exchange that not only enables trading of crypto assets, but also provides liquidity in the form of liquidity pools!

Known as the first hybrid DEX for Cardano and cross-blockchain DApp Milkomeda, it launched its support for Plutus version 2 [v2] Smart Contracts on October 5th.

Even more intriguing is the fact that the DEX platform’s ADA transaction fees have now been halved [by 50%], which will attract more users and ultimately increase activity on the platform and Cardano network. Users now pay an average of 0.73 ADA for transaction fees as opposed to 1.44 ADA before.

Along with an increase in DEX activity, MuesliSwap’s ADA transaction size has dropped from 14.73 KB to just 1.31 KB per transaction. That’s roughly a 91% reduction.

One benefit of smaller transaction sizes is that they result in faster transactions and a corresponding increase in network capacity. In the long term, as the market adjusts to the ongoing economic crisis and a bear market, this could be beneficial for ADA.

Recently, Hydra, the blockchain’s Layer 2 scalability solution, successfully demonstrated its capabilities at SundaeSwap, another leading Cardano DEX. Charles Hoskinson, the company’s founder, praised the pilot.

Check out TronWeekly’s report here.

Cardano’s Hydra will boost ADA adoption

While a real launch will still take some time, DEX claims that this represents a significant step forward for SundaeSwap and Cardano’s scaling initiatives. On the other hand, the Ada community has praised the action.

Some of the proponents even believed that Hydra will finally oust Cardano from the mainstream cryptocurrency market.

The Cardano founder claimed that Hydra is a significant advance in the field of scalability and will eventually be used to co-develop and integrate practical applications.

With the Hydra update, a portion of users will have their transactions settled off-chain, with the chain’s ledger serving as a secure settlement layer. Without requiring a general agreement, Hydra will maintain safety guarantees while loosely connected to the main chain, he added.

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