Breaking News
LAST CHANCE for Cyber Monday SALE: Up to 54% off InvestingPro! Register here
Investing Pro 0
Ad-Free Version. Upgrade your experience. Save up to 40% More details

QuickSwap – The DEX Curating An Economical and Scalable Way to Swap Tokens

CryptocurrencyMay 16, 2021 03:30PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
QuickSwap – The DEX Curating An Economical and Scalable Way to Swap Tokens

The rise of decentralized finance has massively boosted the number of transactions occurring on the Ethereum blockchain. It led to the congestion on the network and users paying higher gas fees to process their transactions. The cost to execute a trade has gone so high that it made even smaller DeFi operations, like token swaps, completely unviable. While Vitalik’s brainchild transitions from proof-of-work (PoW) to proof-of-stake (PoW), it remains a distant dream for all DeFi users.

In Retrospect, QuickSwap was Inevitable

The tradeoffs of a blockchain are passed on to the project’s building on top of them. This is what happened with Uniswap, the world’s first decentralized token swap platform. It was the first decentralized exchange (DEX) of the crypto space, which attracted the community for its decentralization and ability to process trades without asking its users to go through rigorous KYC/AML processes. However, with all of the advantages UniSwap offers, its users suffer from high gas fees due to it being built on the Ethereum blockchain.

A simple transaction on Uniswap now often costs more than the transaction itself, leaving a gap that needed filling. QuickSwap was quick to address the issues plaguing Ethereum-based DEXs, by offering much lower transaction fees and almost instant block formation time.

A Brief Overview of QuickSwap

QuickSwap is a decentralized exchange that allows users to trade any ERC-20 tokens. Though the DEX is based on Ethereum, it is powered by the Polygon network, which provides several benefits not seen in other similar solutions. For example, QuickSwap can trade any of the ERC-20 tokens listed on its platform with almost no gas costs and at lightning-fast speeds, making QuickSwap (and Polygon) a great accompaniment for UniSwap and Ethereum.

Moreover, anyone can list any ERC-20 token on QuickSwap by providing liquidity to enable token swaps. In return, the platform rewards them with a 0.3% transaction fee (out of which 0.25% goes to the LPs, 0.04% to the dragon’s lair (which is the QUICK staking pool), and 0.01% goes to QuickSwap’s treasury (to fund development). In addition to the trading fee, liquidity providers can earn QuickSwap’s native governance QUICK token – which they can use to create, vet, and vote on proposals relating to the running of the protocol. They can also use QUICK tokens to stake in the Dragon’s Lair to earn additional QUICK.

Quantifying QuickSwap’s Traction

The integration with Polygon has made QuickSwap a liquidity magnet as it exceeds the TVL (total value locked) of all layer-two-based decentralized exchanges.

Though the DEX is just seven months old, it has attracted more than $500 million liquidity to date. Besides, QuickSwap has a 24-hour trading volume of more than $200 million – a feat that is nearly impossible to achieve in a short period.

Furthermore, QUICK, the governance token of QuickSwap, surged from under $1 to $1585 in just six months. The token is currently trading below its all-time high, and the price it achieved is a dream for many other digital assets of its category.

Taking a Big Slice Out of DeFi Space

Uniswap has seen over $2.68 billion in volume with the number of users dipping to 78.05k. On the other hand, QuickSwap has seen over $148.18 million while the number of users has increased to 11.48k.

Uniswap Users

QuickSwap Users

Comparing the most popular exchange puts QuickSwap success into context. However, it is equally important to understand how young the DEX is.

Factors Driving the Success of Polygon-powered DEX

Just like other leading decentralized exchanges, QuickSwap enables permissionless listing, non-custodial trading, and community governance. However, a few features make it entirely different from its predecessors, for example –

  • Layer-two transactions: A Plasma-based Layer 2 solution, Polygon fuels QuickSwap’s entire ecosystem, meaning tokens can be exchanged within about two seconds at a fraction of the gas cost on the Ethereum network. Therefore, QuickSwap transactions have the security of Ethereum and the massive scale capabilities of Polygon.

  • High yield on liquidity: QuickSwap enhances the crypto pooling experience by offering a high annual per yield (APY) to users who pool their tokens to provide liquidity on the platform. As per the data from, QUICK was among the top five tokens as of May 12, 2021. With its pair of wrapped Ethereum, liquidity providers can earn a yield of as much as 188%. However, the exchange boasts even higher APY with other digital asset pairs. For example, the ETH/USDC pair on QuickSwap can bring in ~306% APY, while the DAI/ETH pair is currently earning about 251%.

Ending Thoughts

The growing interest of users in DeFi coupled with the delay of ETH 2.0’s launch has attracted many to the Polygon network. While the market is full of challenging solutions, most of them are either too centralized or hardly deliver on their promises.

The exponential growth of QuickSwap’s user base, price, and TVL is proof that the crypto community has accepted QuickSwap as a go-to DEX. Since it uses the Polygon network for token swaps, users can enjoy a much lower trading fee and quicker block confirmation times – all that while getting high APY for providing liquidity.

However, the DEX is still in its infancy. Though it has demonstrated much to the crypto community, QuickSwap still has more to prove. Considering its growth since its inception, it seems the exchange is right on its track of replacing “old finance”.

This article was first published on

Continue reading on CoinQuora

QuickSwap – The DEX Curating An Economical and Scalable Way to Swap Tokens

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
Sign up with Email