Quickswap Exchange
QuickSwap is a permissionless decentralized exchange (DEX) based on Ethereum, powered by Matic Networks Layer 2 scalability infrastructure. By utilizing Layer 2 for transactions,
Overview
QuickSwap is a fork of Uniswap that runs on the Polygon network (formerly Matic Network), a Layer-2 scaling solution for Ethereum. Polygon features lower transaction fees compared to the Ethereum mainnet, enabling QuickSwap to facilitate token swaps at a lower cost relative to exchanges like Uniswap v2. QuickSwap's token, QUICK, gives users governance rights over the protocol.
History
QuickSwap launched in October 2020, four months after Polygon mainnet became live. The launch incorporated a fair launch, community-focused governance structure, in which 96.75% of the token supply was reserved for the community and the remaining 3.25% for the team. There were no pre-sales, private sales or seed rounds. Token holders carry voting power over the network and stakers are able to earn revenue from trading fees. The purpose behind building the QuickSwap protocol was to solve the user experience problems that have existed in Ethereum, which include high transaction fees and high transaction times. These issues have prevented making DeFi accessible to the masses mainly due to transaction fees becoming too expensive during moments of high network activity. QuickSwap has tackled this problem by building on top of the Polygon Layer-2 scaling solution, which benefits from next-to-zero transaction fees and up to 65,000 transactions per second. By building on top of Polygon, QuickSwap aims to level the playing field and solve the user experience problem of high transaction fees and high transaction times while also focusing on redesigning how people interact with Decentralized Exchanges and DeFi by developing user interfaces that will make transacting on Layer-2 easier to use for non technical users.
Taking into account the success behind Uniswap which has been battle tested and processes millions of dollars worth of crypto volume on a daily basis, the team behind QuickSwap chose to fork the code behind Uniswap (which utilizes an automated market making system rather than a traditional order-book) without changing the underlying code. Instead of modifying the code behind the forked Decentralized Exchange, the QuickSwap team have opted to build aditional features on top such as Dragon Lair, where users are able to earn protocol fees by staking their QUICK tokens, adding Limit Order support and Dragon Syrup, where stakers of dQUICK (QuickSwap's interest bearing token) are able to earn additional yields from projects that are traded on QuickSwap.
QuickSwap’s V3 liquidity deposits grow after the Gamma integration
QuickSwap has integrated with Gamma to enable a more efficient liquidity management and robust LP mining experience for DeFi users. Thanks to Gamma, users are now empowered with advanced liquidity management capabilities while experiencing QuickSwap’s V3 pools and farms.
Gamma is a leading Web3 provider of liquidity management solutions, allowing users to more efficiently and effortlessly manage their assets and take advantage of improved and advanced yield farming opportunities. Since Gamma’s implementation, QuickSwap has noticed a significant increase in V3 liquidity deposits.
How do I farm QUICK on QuickSwap?
On the QUICK page of the site you’ll find the current pools listed which reward QUICK to liquidity providers and the daily amounts allocated to each pool. The QUICK you receive is directly proportional to the percentage of the pool your liquidity occupies and is calculated every block; about every 2 seconds.
TL;DR
Provide Liquidity to the pool of your choice on the Pool page.
Receive LP Tokens (also called “Pool Tokens”) in exchange for your deposit (think of it as a sort of receipt, i.e. a redeemable proof of deposit).
Deposit your LP tokens to the corresponding pool on the QUICK pools page.
After you’ve confirmed all transactions on MetaMask, which it will automagically prompt you to do, that’s it! You’re now farming QUICK!
You can withdraw your liquidity at any time. If you wish to remove your tokens, or transfer your liquidity to a different pool, simply follow these same steps in reverse order.
How much do I receive in fees for providing liquidity on QuickSwap?
0.3% is the fee for swaps performed on QuickSwap. These fees are then paid out to the liquidity providers according to their percentage of the pool.
Which transaction is a fee charged for?
A 0.3% fee is charged for swaps. This 0.3% is split among the liquidity providers according to their percentage of that pool.
How can I add a new token or a pair?
Anyone can create a liquidity pool on QuickSwap. It’s a permissionless AMM.
However, if your token/coin has not yet been mapped to Matic you’ll have to apply for that here.
You can find a list of mapped tokens here.
To add a token that has been mapped to Matic to the official QuickSwap list you’ll have to request our developer @Sameep does that. Please leave your request in the Telegram group.
Or you can create your own new list and share it if you wish. If you create a fake or malicious token your address will be reported.
Go here and click on “Create a pair”: https://quickswap.exchange/#/pool
Enter the token address of your coin.
Bada boom bada bing! It’s almost automagic!
What is Gamma?
Gamma is a protocol designed for non-custodial, automated, and active management of liquidity. Gamma’s key feature is the Vault, a non-custodial position manager contract that can empower a liquidity pool with Strategies. These vaults create tokens for the user that can be used for internal and external Incentive Programs, such as Gamma Farms on QuickSwap.
The protocol features management functions such as rebalancing, position setting, and fee processing to enable users to manage their funds in QuickSwap’s liquidity pools without sacrificing asset custody.
GAMMA is the native token of the Gamma protocol. Users can stake GAMMA to earn fees, which is a portion of generated fees from all Gamma pools – the percentage of fees varies from pool to pool.
How can Gamma benefit QuickSwap users?
With Gamma, QuickSwap users no longer have to manually set and reset price ranges, claim compounded fees, or monitor the risk of impermanent loss themselves. Instead, all of this will now be handled by automation within their V3 pools, making the entire process less time-consuming while minimizing some of the scary unknowns.
Gamma automatically re-balances QuickSwap V3 users’ liquidity to keep it in range and auto-compounds generated swap fees. As a result, it simplifies the process for users who want to maximize potential returns through their own self-chosen strategies.
Growth in liquidity pool investments and rewards
Gamma’s smart and highly automated system allows QuickSwap farmers to passively yet effectively manage their V3 liquidity. This frees up users’ time for the optimization of their asset portfolios. In addition, Gamma maximizes users’ returns by automatically rebalancing their liquidity to keep it in range and auto-compounding swap fees. And all of these are coupled with the application’s easy-to-use interface, making it extremely attractive to DeFi users.
Furthermore, QuickSwap supports this new integration by providing V3 with $600,000 towards the V3 liquidity to provide additional momentum for growth through 2023.
In summary, the integration will help QuickSwap achieve a flywheel effect, enabling continued growth in user base, rewards, and liquidity.
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