QUICK - What is Quickswap and its Tokenomics Analysis

Introduction

The emergence of 2021's DeFi boom was orchestrated by protocols like Uniswap, AAVE, Compound, MakerDAO, and more. After this period, numerous fresh initiatives rapidly gained momentum, aiming to secure their slice of the market while striving to establish their distinct identities.

In this article, we'll check out Quickswap. It's the largest decentralized exchange in the Polygon group of systems.

What is Quickswap?

Quickswap is a fork of Uniswap, meaning that Quickswap re-uses the audited code from the Uniswap protocol. This gives users an experience that's nearly identical. However, the key difference is that Quickswap was natively built on Polygon, not Ethereum like Uniswap.

Because it employs the same Uniswap code, Quickswap gained the trust of Polygon users. This led to a high level of confidence in the Quickswap DEX. This trust translated into substantial liquidity during the bullish market of 2021, resulting in an impressive TVL of almost $1.5 Billion on the platform.

Similar to Uniswap, Quickswap allows users to trade tokens directly, without requiring a middle party. Additionally, there's no need to provide KYC information. Users are free to trade and store their tokens without sharing personal information.

Why Choose QuickSwap Over Uniswap?

Although Uniswap V3 was introduced on Polygon at a later point, Quickswap had already solidified its position as the primary DEX within the Polygon ecosystem. The platform boasted numerous liquidity pools and a wide array of tokens available.

Consequently, numerous native Polygon tokens enjoy increased trading volume and liquidity on Quickswap. However, it's important to note that the fundamental functionality remains essentially identical to that of Uniswap!

Quickperps

Quickperps marks a fresh initiative by Quickswap, where they have developed a perpetual futures decentralized exchange utilizing the Polygon ZkEVM blockchain. This innovation empowers traders to engage in on-chain derivative trading with leverage, introducing an exciting new feature to the Quickswap platform!

This catches our attention because Uniswap doesn't offer a perpetual dex, highlighting that even projects stemming from forks can eventually establish unique identities apart from their origins.

Tokenomics

Quickswap operates with its own native token called QUICK. Holding QUICK gives you the ability to participate in governance decisions and farming. This means you can earn interest and rewards by taking part in liquidity mining with QUICK tokens.

The total supply of QUICK tokens is capped at 1 billion. The distribution strategy primarily revolves around rewarding liquidity providers. It's important to note that the project didn't involve any private investment rounds or token sales.

Final Thoughts

If the idea of getting involved with Quickswap intrigues you, Kassandra provides an avenue. You can invest in a pool where the manager has put resources into QUICK, or alternatively, you can take the reins yourself and become a manager to do it independently!