What is QuickSwap?
QuickSwap is an AMM-based decentralized exchange (DEX) that runs on the Polygon network. It originated as a fork of Uniswap. QUICK is the token that powers the QuickSwap ecosystem. You can see the live QUICK price displayed on the QuickSwap price chart above.
The QuickSwap crypto project seeks to provide users with quicker and less expensive transactions than other DEXs do. It aims to achieve that through the use of Polygon, which essentially is a Layer-2 scaling solution. Also, there's no need to get authorization from a third party in order to list tokens on QuickSwap. All users need to do to support their tokens is ensure that QuickSwap has the necessary liquidity.
Who Founded QuickSwap?
QuickSwap was founded by programming and blockchain expert Nick Mudge. Before starting QuickSwap, he had years of experience as an Ethereum contract programmer. He was also part of Ethereum's ERC-721 standard development process. The QuickSwap team is advised by the Lunar Digital Assets organization and the MATIC foundation. MATIC foundation is the regulatory body of Polygon Network, while LDA is a cryptocurrency consulting and marketing organization.
Use Cases of QUICK
The QUICK token is based on an ERC-20 token standard. It can either be used as a governance token or for staking. As a governance token, QUICK provides holders with the right to vote on various proposals that affect the further development of the platform. By staking QUICK tokens, on the other hand, users are able to earn more tokens gathered from the platform’s trading fees.
Though there are other ways to earn QUICK coins on the QuickSwap exchange as well. One of them is depositing QUICK tokens into the Dragon’s Lair Pool. By depositing their tokens into this reward pool, users earn Dragon’s QUICK (dQuick) assets as a reward.
Besides that, by using QuickSwap crypto assets to provide liquidity on the platform, users can also earn more QUICK tokens.
Don't forget to analyze the current and the previous QUICK prices. You can do that on the aforementioned QuickSwap price chart.
QUICK Token Redenomination
In March 2022, the community of QuickSwap decided to redenominate the QUICK token at a 1:1000 ratio. This means that, while the old QUICK max supply was 1 million, the max supply of the new QUICK token is 1 billion. Thus, holders of old QUICK tokens had to exchange their tokens for new QUICK tokens at a 1:1000 ratio.
