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,
Last updated
QuickSwap is a permissionless decentralized exchange (DEX) based on Ethereum, powered by Matic Networks Layer 2 scalability infrastructure. By utilizing Layer 2 for transactions,
Last updated
For the first 60 days of the project, the launch team discusses what would be most beneficial for the platform and the community. Some of the decisions are experimental and monitored to see how things go. If you have experience yield farming and want to make a suggestion, QuickSwap is a community-driven project, so we’re open to any input you have.
In the near future we will decide how governance happens, as a community. We are already discussing voting parameters and different ideas. Let us know if you have any.
After each 14 days QUICK Campaign the QUICK pools on QuickSwap are changed, that is, the pools you can farm QUICK with. This timer communicates when that time is up.
To avoid any glitches or complications, it’s best to have removed your LP tokens (also called “pool tokens”) before that timer’s up. You can do it after, but people have experienced UI issues when doing so, however, they were resolved. You don’t, however, have to transfer your LP tokens back for your original pair to redeposit them, of course.
Yes, you will have to remove your LP tokens and redeposit them once the new pools are live. You don’t, however, have to transfer your LP tokens back for your original pair to redeposit them, of course.
After depositing your LP tokens, the pool you’re contributing to will darken in color. In the lower right of that tab it will tell you how many QUICK you’re currently receiving per day, calculated by what percentage of the pool your stake is in relation to the QUICK/day allocated to that pool.
To learn how to calculate APY, see the next question/answer.
Many DeFi AMMs have automatically calculated APY for you. Be aware that this can be highly misleading as there are so many variables that can fluctuate over the course of a year. However, if you can’t wait for this to be automated on QuickSwap, and would like to calculate the APY manually, you can do so according to these instructions:
Annual percentage yield (APY) is the percentage of growth, or “rate of return”, you earn on an investment over a year with compounding interest. As you earn QUICK, you can reinvest it and add to the principal amount.
This is different than a simple interest rate, which simply pays interest without compounding it.
How frequently you do this will affect your APY. In traditional finance this is commonly done monthly or quarterly. With QuickSwap, it’s not done automatically, but you can do it yourself as often as you like. This will cause your investment to grow exponentially through compounding interest.
The formula
APY = (1 + r/n)n — 1
R = the interest rate
On QuickSwap R would equal:
the current total dollar value of the tokens received from the pool you’ve provided liquidity to, for a year, divided by your initial total capital invested. This will of course vary, depending on the current percentage of the pool your LP tokens are in.
For example, if I deposited $500 of QUICK and $500 of UNI and I’m earning 2 QUICK tokens per day, my initial investment is $1,000.
I must now determine the current value of QUICK in USD in order to calculate R. Let’s say the current value of QUICK is $10 per token. I’m receiving $20/day multiplied by 365 days.
$20 x 365 = $7,300
$7,300/$1,000 = 7.3
R = 730%
N is the number of times you plan to add your rewarded QUICK tokens to your current liquidity in a year, compounding your interest. Banks commonly compound interests either monthly or quarterly.
To be conservative. Let’s say you plan to do this once a week. There are 52 weeks in a year.
R must be written as a decimal.
(1 + 7.3/52)52–1 =
7.3/52 = 0.14038462 + 1 = 1.14038462
1.1403846252 = 926.1264277854336
926.1264277854336–1 = 925.126
Now, to translate this growth into dollars, there’s a couple more steps.
Multiply your APY result (925.126) with your starting principal amount ($1,000).
$925,126
Add that number ($925,126) to your starting principal ($1,000).
$926,126
(APY x Principal) + Principal = Annual Total
As you can imagine, in DeFi being so new with the volatility of token prices, the APY is going to change frequently. It’s contingent on who deposits or withdraws from the pool, how much, and the current price of the QUICK token. But the above equation can provide you with a frame of reference by which you can monitor ongoing activity.
It can vary widely as it’s not only based on your percentage of each pool, but also on how much the first liquidity provider at the start of the campaign deposited.
Uniswap has a decent explanation of this here.
Upon launch, we promised 1% of QUICK would be rewarded to MATIC stakers. When this will occur hasn’t been decided just yet. It will be done strategically and reasonably soon. Stay tuned and we’ll have an answer for you shortly.
You can also easily swap any token or coin you have in your MetaMask wallet with some Matic right on QuickSwap. A little bit of Matic goes a long way.
You can also pick up Matic from an exchange. Several options are listed here.
QuickSwap is now equipped with a brand new bright & shiny ‘CLAIM MATIC’ button.
Anyone arriving to Layer 2 without any $Matic in their MetaMask wallet will see a ‘CLAIM MATIC’ button in the upper right hand corner.
They can claim 0.1 Matic for TXs if they have 1 DAI/USDC/USDT in their Matic wallet.
You can find this and other info on our analytics page here: https://info.quickswap.exchange/
The growth of QuickSwap correlates to the adoption of the Matic Network. Matic Network was built to be a scaling solution for Ethereum. Whether this will be supplemental to other scaling solutions or become the primary vehicle whereby faster and cheaper transactions take place, remains to be seen. The whole team is working hard at driving adoption and bettering the end-user experience. At the end of the day, the market will decide. With each new user, Network Effects are squared by another multiple, so your support matters, squared!
Other than the analytics page, Quickswap.exchange and the QuickSwap Medium blog is the only QuickSwap presence online. See the answer to the next question for more.
We are currently in discussions about this. Exchange listing for any crypto project is contingent on a large number of factors. It’s impossible to predict an exact date, but we’re optimistic that as the user base grows, and the team works hard, we will be listed on a mainline CEX.
Currently such an option does not exist on QuickSwap.
Currently such an option does not exist on QuickSwap.
Only 2.
Yes. All the pool pairs on QuickSwap require an equivalent USD value on deposit.
If you wish, you can read up on QuickSwap’s Tokenomics here.
90% of QUICK is allocated to the community to be farmed over a 4 year period.
6% will be airdropped over a period of several weeks sometime in the first year if the project.
4% is reserved for the team and marketing.
We may vote in the near future on forming a community treasury to fund development of the project.
1,000,000 is the total supply, once fully diluted over a four year period.
In the near future we’ll have exact amounts automatically displayed. For now, you can manually get a good ballpark estimate by taking the 4,239 QUICK issued on Oct 7, 2020 + 1,000 X the total number of days QuickSwap has been in operation.
The number of tokens distributed into circulation changes depending on the structure of the rewards pools which changes weekly.
Or you can subtract the number you find at the top of this page from 100,000,000: https://explorer-mainnet.maticvigil.com/tokens/0x831753DD7087CaC61aB5644b308642cc1c33Dc13/token-holders
On Jan 1 it will be approximately 90,000 QUICK. Precise numbers will be readily available once QuickSwap is listed on a coin analytics site.
See the answer to the above question as the answer to this will vary over a four year period.
We are discussing different methods of governance and how voting will work and how to best give the QUICK token utility and value. We will communicate decisions with the community in the near future.
