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With all of these additions coming in 2022, we can surely see that the development team is restless in their ambition to make QuickSwap better day-by-day. We think with all the new developments coming soon, the platform will see its popularity rise exponentially.

An introduction to QuickSwap, the most used AMM on the Polygon Network

QuickSwap is an Automated Market Maker (AMM) DEX on the Polygon Network founded by Nick Mudge,Sameep Singhania, and Roc Zacharias with an ambitious vision in mind.

What is QuickSwap?

QuickSwap is an Automated Market Maker (AMM) on the Polygon blockchain. In decentralized finance, AMM’s like QuickSwap are extremely popular because of the unique opportunities they offer to generate yield on your tokens. QuickSwap’s core functionality is identical to Uniswap’s; however, QuickSwap is built and focused onPolygon as opposed to Ethereum. QuickSwap is the preferred DEX on Polygon because it has a clean interface, tokenomics that reward stakers, a hard working team that engages with its community, and implements regular upgrades to make their service better day-by-day.

Users are able to swap tokens by using the AMM technology, which is permissionless by nature. QuickSwap is favored by liquidity providers because of its easy-to-use interface, In addition to the numerous options for generating yield QuickSwap offers.

As a DeFi platform, QuickSwap requires a Web3-compatible browser and a crypto wallet browser-extension. If your assets are on Ethereum or another blockchain, you will need to bridge them to Polygon to use QuickSwap as you also need to own assets on the Polygon network.

QuickSwap strives to be the premier DeFi platform on Polygon. The development team has ambitious plans to become the center of Polygon dApps.


Features

Dragon’s Lair Staking


$QUICK is QuickSwap's native governance token. Holders can stake QUICK in the Dragon’s Lair on QuickSwap to receive a portion of trading fees and other revenue streams on the exchange. Dragon’s Lair staking is entirely liquid. Stakers can unstake their QUICK at any time without incurring penalties. The dQUICK (Dragon's Quick) token is a staked representative token that reflects a holder’s staked QUICK. QuickSwap uses a portion of the funds the DEX collects from trading fees to market buy QUICK and deposit to stakers in the  Dragon’s Lair. Put simply, dQUICK holders benefit from all economic activity on QuickSwap.


Governance


QuickSwap also has frequent governance votes. Before introducing any new features or protocol changes, the community has to vote on it. Typically, discussions are posted to the subreddit, r/QuickSwap, as a temperature check with the community. Once discussion has been had and all feedback is taken into consideration, a governance vote is introduced to the community. From there it is up to QUICK holders to decide.

Liquidity Mining

With the AMM feature, users provide liquidity to pairs of tokens, called liquidity pools. LPs earn a significant portion of all trading fees on that pair, so higher volume pairs typically have the most liquidity. QuickSwap uses its QUICK token to incentivize select pairs and to support new protocols building on Polygon. Sometimes, these projects give a portion of their tokens to a “Syrup Pool”, which QUICK holders can stake their tokens into to earn that project’s tokens.

Dragon’s Syrup Staking

QuickSwap features an extensive list of Syrup Pools as well, which grows the value of the platform exponentially as more projects are onboarded in the Syrup Pool program.  Often Syrup Pools offer high APYS for QUICK stakers. QUICK holders can stake using Dragon's Syrup in exchange for participating Dragon’s Syrup tokens. By increasing circulation and enabling QuickSwap users to support new projects without purchasing or exchanging, Dragon's Syrup aids new cryptocurrency tokens in achieving increased liquidity while well established projects sometimes join these pools to strengthen their presence and visibility.

QuickSwap is Ever-Growing

QuickSwap just launched an upgraded user interface, which is simply astounding. The developers have been hard at work to improve and optimize the user experience, with plans to continue upgrading the analytics in the near-future.
The fresh interface places this AMM on the top of the food chain with its competitors. So smooth, lightning fast, clean and intuitive, just like a baby dragon!


The Future of QuickSwap

QuickSwap has been busy with an aggressive schedule for future integrations and protocol changes. They recently announced the next steps for the roadmap:

With all of these additions coming in 2022, we can surely see that the development team is restless in their ambition to make QuickSwap better day-by-day. We think with all the new developments coming soon, the platform will see its popularity rise exponentially.

Project Links:
Website - https://quickswap.exchange/
Twitter - https://twitter.com/QuickswapDEX
Telegram - https://t.me/QuickSwapDEX
Discord - https://discord.com/invite/XJTM7FV88Y
Medium - https://quickswap-layer2.medium.com/

Written By

Petrache Ionut

Jul 12, 2022