- QuickSwap is a fork of Uniswap deployed on the Polygon Network (formerly Matic Network). By leveraging the Layer-2 network, QuickSwap enables users to trade any ERC-20 assets with near-zero gas costs. QuickSwap empowers traders, whilst reducing the barriers of entry to DEXs for the general crypto user.
- The project has adopted a community-focused token distribution model, and users are able to participate in protocol governance.
- QUICK is the native utility token of QuickSwap and has the following use cases:
- Governance: Token holders can propose and vote on network governance decisions via the Snapshot platform.
- Staking: Users can stake QUICK tokens on the platform for staking rewards (paid in QUICK), and earn a share of the platform transaction rewards.
- Liquidity Mining: Users can deposit tokens towards the liquidity pairs on the platform and earn a share of the platform‘s transaction fees. Users will receive LP tokens in exchange for their token deposits, which can be staked on the platform to earn more QUICK tokens.
- The project did not raise any funds and has allocated 90% of the token allocation for liquidity mining.
- As at July 23rd 2021, the maximum token supply is 1,000,000 QUICK and the current circulating supply is 159,753 QUICK (~15.9% of the maximum token supply).
- Learn more about the token economics of QUICK here.
SOURCE: https://research.binance.com/en/projects/quickswap
