Quickswap x CelsiusX

Partnership

CelsiusX aims to be a bridge connecting the world of CeFi users (retail traders and institutions) with opportunities in DeFi. Partnering with Quickswap creates one such avenue for growth. Because wrapped versions of popular assets like ADA and DOGE do not have a major native presence on Polygon, Quickswap and CelsiusX will create that presence.

What does this look like?

First — liquidity. If a token is to gain adoption in an ecosystem, there needs to be ample liquidity where users, bots, arbitrageurs, institutions, etc. can buy and sell that token. This is the function that a DEX like Quickswap provides: liquidity for any token. Together, CelsiusX and Quickswap, along with our ecosystem partner Polygon, will set up liquidity pools for wrapped versions of ADA, DOGE, and ETH.

Second — incentives. Why would users choose to transact in the CelsiusX wrapped versions of DOGE, ADA, and ETH? One answer is the existence of liquidity — DOGE and ADA have a de minimis presence on Polygon, and CelsiusX + Quickswap will address that with liquidity pools. Additionally, adoption can come from incentives where DOGE and ADA holders who want to participate in DeFi can earn rewards for providing liquidity and transacting on the Quickswap DEX. Each new pool will have rewards that provide opportunities for users to put their ADA and DOGE to work.

Lastly — utility. As it stands today, the DOGE and ADA communities are incredibly robust with very strong holder bases. However, there is minimal utility and functionality with the two tokens (other than staking and some DeFi opportunities with Cardano). By facilitating wrapping and bridging of ADA and DOGE from their native blockchains over to the Polygon blockchain, CelsiusX and Quickswap will unlock a world of opportunity by integrating these assets into the DeFI ecosystem.

Long Term Vision

CelsiusX aims to forge long term partnerships and build deep adoption and utility for crypto assets across blockchain ecosystems. Partnering with Quickswap to create liquidity pools for wrapped ADA, DOGE, and ETH is just the tip of the iceberg. As token interoperability increases and additional non-ERC20 (non Ethereum compatible) crypto tokens look to migrate over to the Polygon ecosystem, CelsiusX + Polygon can repeat the playbook to create liquidity and use cases for any token. This is the first step in the long, fruitful road of becoming a gateway between the CeFi and DeFi worlds.

SOURCE: https://medium.com/@CelsiusX/quickswap-x-celsiusx-464fbe700eef