What is QuickSwap?
QuickSwap is the first AMM/DEX platform built on the Polygon Network.
Currently, QuickSwap supports token swaps at a lower cost than exchanges like Uniswap v2. QuickSwap users can trade any ERC20 token at lightning speed with almost zero gas costs.
Quickswap allows users to participate as:
- Traders: QuickSwap allows users to exchange ERC-20 tokens through the use of the AMM automated market maker. This is possible because QuickSwap uses the AMM model with the x*y=k mechanism that resembles Uniswap,…
- QuickSwap for trading WTokens (WBTC, WETH, …) is converted at the same value as the original tokens (BTC, ETH, …), stablecoins such as USDC and DAI are pegged to the value of USD .
- Liquidity provider: Participate in granting liquidity through depositing Polygon network ERC20 token pairs into the Liquidity Pool.
The QuickSwap Difference
QuickSwap’s suite of products
As the first AMM/Dex exchange on the Polygon (Matic) ecosystem, QuickSwap regularly focuses on improving and adding new products to serve user needs. QuickSwap offers include:
- Transaction (Swap): QuickSwap allows users to trade ERC20 tokens on the Polygon network quickly with low slippage and cheap fees. Users have the trading options of placing a Market Order or a Limit Order.
- Provide liquidity (Liquidity Pool): QuickSwap allows users to participate in providing liquidity into asset pools to serve transactions and receive LP tokens.
- Farming: Like other DEX platforms, QuickSwap also launched a Farming feature to help users earn more profits from providing liquidity.
- Dragon’s Lair: Users will receive dQUICK after staking Quick, 0.04% of the transaction fee from the protocol will be shared with dQUICK holders (the conversion ratio of QUICK and dQUICK is not a 1:1 ratio. This ratio varies depending on depends on the amount of QUICK staked in the contract. This means the more people stake, the less user fees will be shared and vice versa). When a user quits their bet, their dQuick is burned and they receive QUICK back – based on the dQUICK rate.
- Gaming Hub: QuickSwap designs game centers that provide the best gaming scene on the Polygon network. QuickSwap Gaming Hub has 192 games, including paid and free games.
- Prediction market (Predictions): QuickSwap partners with Bhavish Finance to upgrade the crypto prediction market (BTC, ETH, MATIC); The market predicts stocks, commodities, etc., predicting increases and decreases on a 5-minute time frame.
Crypto, stock, commodity prediction market on 5-minute timeframe
QuickSwap Highlights
- Ease of access: QuickSwap supports many exchange wallets, including popular wallets like Metamask and Trust.
- Low fees and fast speeds: QuickSwap allows trading of ERC20 token pairs on the Polygon network with very low slippage and fast speeds. This is possible due to the unique Liquidity Pool mechanism (QuickSwap features interim loss (IL) protection).
- Privacy: QuickSwap does not require users to provide any personal information (mail, phone, ID) to open a trading account. Users only need to link to the wallet address that integrates Dapps and fees in the wallet.
Development Roadmap
- October 2020: Launch of QuickSwap
- August 2021: Integrating Limit Order, dQUICK betting program
- October 2021: Launch of the Gaming Hub game center
- September 2022: Beta V3 launched providing transient loss (IL) protection on V2; Upgrading the prediction market
Core Team
Investor
Tokenomics
Overview information about QuickSwap token (QUICK)
- Token name: QuickSwap
- Code: QUICK
- Blockchain: Polygon Network, ETH, Sonala
- Contract: 0xb5c064f955d8e7f38fe0460c556a72987494ee17
- Total supply: 1,000,000 QUICK
Token Allocation & Release
QUICK was released as Fair Launch
Community: 96.75% of total supply
- 90% of the tokens are being offered to the community through a liquidity mining program (Liqidity Mining) over a period of 4 years.
- 5% airdrop to UNI holders.
- 1% future airdrop
- 0.75% is reserved for marketing.
Teams and advisors: The remaining 3.25%, tokens are distributed periodically over a period of 392 days.
Token Use Cases
- Governance: QUICK token holders can participate in voting or create proposals on the platform.
- Provide liquidity
- Staking: Users can stake QUICK to receive QUICK
- Join IDOs
Exchanges
QUICK token is traded on Binance, Coinbase, Kucoin, UniSwap, Bitget, BingX, …
Project Information Channel
Summary
Hopefully the above article has partly helped you understand what Quickswap is? It is a fork of UniSwap but does not have improvements, upgrades and integration of new services for users, while famous names such as AAVE, Balance, UniSwap V3, … have also developed. on Polygon and has TVL ranked 1st (AAVE), 3rd (Balance), 4th (UniSwap). QuickSwap needs to be monitored further in the near future.