QuickSwap

Market Making

QuickSwap is a decentralized exchange native to Polygon that enables permissionless trading and liquidity provision (to earn trading fees).

Risk Rating

Best

Protocol Code Quality

Protocol Maturity

Protocol Design

What is QuickSwap?

What we like

QuickSwap is Uniswap V2 fork with lower gas fees and offers a wide range of crypto assets so anyone can become a liquidity provider on Polygon.

What we like less

QuickSwap offers more exotic long-tail assets that may be exposed to fundamental security risks and rug pulls. This would result in a two-sided liquidity pool being completely drained in the event of bad actors or any exploits.

What it means for you

Offers an attractive marketplace for you to earn yield due to its high total value locked (TVL) and significant volume.

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Information

Exploit/Hacks

None

Documentation
Auditors
- Audits
- Audits
Please see our FAQ on experienced auditors

Info

Website
Token: QUICK
Tags: Market Making

Key Metrics

TVL: $39.3M (Rank #125)
TVL Ranking by Market Making: #0
Blockchain: Polygon
Chain TVL
- Polygon: $39.27M

Risk Assessment

Best

Protocol Code Quality

Code reviewed by several experienced auditors
Public team promotes accountability
No documented protocol hacks since launch

Protocol Maturity

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

Protocol Design

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.

Things to know about QuickSwap

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.