QuickSwap (QUICK) [DEX]

QuickSwap is the largest DEX on Polygon and the largest DeFi project in TVL, reaching $890.74m, with nearly 1.43 million users and 16k daily active users.

If you want to participate in the Polygon ecosystem, QuickSwap must be the first Dapp you will experience.

About QuickSwap

QuickSwap is a fork of Uniswap, created by Nick Mudge and Sameep Singhania on the Polygon blockchain platform. It adopts the Automated Market Maker (AMM) model to create a decentralized exchange (DEX) for users to exchange tokens. QuickSwap has no order book, and users trade in pools of tokens called "liquidity pools."

Users can transfer ERC-20 tokens from Ethereum to Polygon and trade any token pair via QuickSwap as long as the corresponding liquidity pool exists. As long as token pairs are provided, new liquidity pools can be established to earn transaction fees from other users.

The interface, operating look and feel and user experience of QuickSwap are almost the same as those of Uniswap. Users do not need to register or complete any KYC (identity verification) process to exchange tokens. Just connect your wallet to the platform and pre-deposit MATIC to pay transaction fees.

QuickSwap is also an open source product, using Uniswap audited code to gain a certain degree of trust and security.

Benefits

Many users choose Polygon because of its fast transaction speed and low fees. Liquidity providers and swappers can use Uniswap’s audited code and enjoy the benefits of the ERC-20-enabled Polygon network. A big benefit of this move is that ERC-20 tokens can be traded using a simple blockchain bridge, avoiding the high fees of Ethereum. Therefore, QuickSwap strikes a balance between Ethereum compatibility, ease of use, and price advantage.

In addition to the very smooth basic DEX functions and low gas fees, QuickSwap itself is also enriching its own functions. In the future, IDO, platform governance, etc. will be added. QUICK tokens will also power these functions.

QUICK

QUICK is QuickSwap's native utility token with the following use cases:

Governance: Token holders can propose and vote on network governance decisions through the Snapshot platform.

Staking: Users can stake QUICK tokens on the platform to obtain staking rewards (paid in QUICK tokens), and share platform transaction rewards.

Liquidity mining: Users can deposit tokens into the liquidity pool on the platform and earn a portion of platform transaction fees. Users will receive LP tokens in exchange for their token deposits, which can be staked on the platform to earn more QUICK tokens. The project has raised no funds and has allocated 90% of its tokens to liquidity mining. As of July 23, 2021, the maximum token supply of QUICK is 1,000,000, and the current circulating supply is 159,753 QUICK (approximately 15.9% of the maximum token supply).

In March 2022, QuickSwap voted for a token split to make QUICK, the native governance and utility token for DEXs, more attractive. After the split, the price of the currency rose rapidly. The current market value of QUICK is $77.63 million, and the 24-hour trading volume is $6.91 million.

How to use QuickSwap

Method 6: Sell low-level Aavegotchi ghosts

1) Open the Bitget Wallet (Previously Bitget Wallet (Previously BitKeep)) wallet, switch to the Polygon network, then click [Browser] and search for [QuickSwap];

2) Browse the details of the Dapp and click [Confirm] to enter the Dapp;

3) After the Dapp is linked to the wallet, the wallet address will be displayed, click the address to display the account information, as shown in screenshot 3;

4) Select the currency of the transaction and enter the quantity to exchange for other currencies, which is the same as the process of using Uniswap;

5) Click the icon in the lower right corner to set [Transaction Slippage] and [Transaction Deadline].

In addition to the daily use of cryptocurrency transactions in the Polygon ecosystem, QuickSwap also supports functions such as liquidity mining and participation in IDO, but everyone should pay attention to investment risks when participating.