What is QuickSwap? QuickSwap is a fork of Uniswap running on the Polygon blockchain. In this article, you can find answers to frequently asked questions such as what is QuickSwap, what it offers, what is QUICK coin, how to get it, what is it used for. As Kriptokoin.com, we have prepared it for you. Let’s examine the project together.
What is QuickSwap?
Blockchain project QuickSwap is a decentralized exchange (DEX) running on the Polygon network. The exchange was created as a fork (clone) of one of the popular DEXs, Uniswap. Working with the Automated Market Maker (AMM), Quick is a next-generation layer 2 DEX. AMM determines the values of listed assets through algorithms rather than an order book. Uniswap runs on the Ethereum network. In this context, Quick was created to solve Ethereum’s problems such as scalability and high transaction fees. The exchange is decentralized and managed by the community. Besides, the Uniswap fork has a native cryptocurrency called QUICK coin.
What does QuickSwap offer?
QuickSwap allows tokens created with an ERC-20 smart contract on Ethereum to be exchanged with almost zero transaction fees. Running on Polygon’s layer 2, DEX works faster than Uniswap and cheaper than the Ethereum network. Users can transact very quickly via DEX and the fees they pay for transactions are very low. Quick lists many cryptocurrencies and investors can trade these assets via the DEX. The exchange, which also allows various DeFi transactions, also offers users the opportunity to earn passive income. Users who provide liquidity to the platform receive a percentage of transaction fees.
What is a QUICK coin?
QUICK coin, released in February 2021, is a token that works as the native cryptocurrency of the QuickSwap exchange. There are versions of the token built on the Ethereum, Polygon and Solana blockchains. The QUICK token, whose maximum supply is limited to 1 billion, has various use cases within the exchange. These use cases include payments, DeFi transactions, and governance.
At the time of writing, QUICK coin was the 501st largest cryptocurrency with a market cap of $60 million. In addition, 327 million tokens were in circulation, corresponding to 33% of the maximum supply capped at 1 million.
What is QUICK coin used for?
QUICK coin is the native cryptocurrency and governance token of the QuickSwap exchange. QUICK holders can participate in management through their assets and vote on issues such as which pair to add to the exchange. Token is a payment method to pay transaction fees incurred in on-platform transactions. Users pay the platform with QUICK in exchange for the transactions they perform. Users who provide liquidity to the exchange are entitled to receive a share of 0.3% from the transaction fees. In this way, liquidity providers can earn passive income. In addition, token holders can deposit their assets into the platform’s “Dragon’s Lair” pool and earn dQUICK rewards.
What is QuickSwap? How to get QUICK coins?
QUICK coin is a cryptocurrency that is traded on large cryptocurrency exchanges. Currently, crypto exchanges such as Binance, Coinbase, KuCoin, Gate.io list QUICK. Investors interested in the QuickSwap project must first become a member of one of these exchanges. Investors who are fully members can purchase QUICK by depositing funds into their wallets.
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