QuickSwap
QuickSwap is a decentralized exchange native to Polygon that enables permissionless trading and liquidity provision (to earn trading fees).
- Documentation
- Auditors
- Please see our FAQ on experienced auditors
- Website
- Token: QUICK
- Tags: Market Making
- TVL: $57.1M (Rank #90)
- TVL Ranking by Market Making: #0
- Blockchain: Polygon
- Chain TVL
- Polygon: $57.09M
- Code reviewed by several experienced auditors
- Public team promotes accountability
- No documented protocol hacks since launch
- Core protocol launched in 2020; maturity over one year minimizes technical risk as smart contracts are well battle-tested
- Top 5% by total value locked reduces risk
- Core contracts require on-chain voting for parameter updates
- No timelock exists or no information documented, which mean a malicious actor could approve upgrades without any delay
- Low voting power concentration reduces risk
- No death spiral concerns
- This protocol is susceptible to risks related to decentralized exchanges (DEXs), such as impermanent loss
- Quickswap is a direct fork of Uniswap V2 implemented on the Polygon PoS chain.
How QuickSwap works
QuickSwap is an automated market maker (AMM) that is forked from Uniswap V2 on Polygon. AMMs rely on liquidity pools rather than traditional order books to execute decentralized trades. The liquidity pools are funded by users who deposit two tokens in equal proportion in exchange for a liquidity provider (LP) token that represents their claims to their share of the total pool, plus a portion of trading fees. On QuickSwap, users can earn additional yield by locking up their LP tokens to farm for native protocol tokens.
How QuickSwap makes money
QuickSwap charges a 0.3% fee on all trades within a liquidity pool. Of this amount, 0.25% is paid to LPs as a reward for providing liquidity, 0.04% is distributed to QUICK stakers (dQUICK), and 0.01% to the QuickSwap foundation. The protocol uses the earned fees to market buy QUICK and distribute it to dQUICK holders.
How you make money on QuickSwap
You can stake QUICK on the platform to earn additional rewards paid in QUICK and other native protocol tokens. The protocol constantly earns 0.04% of all trading fees to be used to market buy QUICK and distribute to dQUICK holders. LPs also earn 0.25% of fees in return for providing liquidity on QuickSwap.
