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QuickSwap is a decentralized exchange that runs on Polygon Network to offer cheaper and faster transactions. Its automated market maker integrates upgradeable smart contracts on Ethereum and renders intermediaries obsolete. The exchange is based on open-source software and prioritizes decentralization, censorship resistance and security. It benefits from ultra-low gas prices compared to Ethereum, as well as fast and simple trading execution.
Anyone can become a liquidity provider by depositing two tokens into a liquidity pool. The exchange enables the trading of ERC-20 tokens, which are traded according to the constant product formula. The mechanism removes the need for an order book and allows traders to tap into a constant pool of liquidity.
Liquidity providers can passively invest their assets to accumulate trading fees or provide liquidity as a hedge for certain trading strategies. Traders use tools like token swaps or can deploy arbitrage bots to compare prices across different exchanges. Finally, developers integrate the exchange with different liquidity aggregators or wallets.
QuickSwap was founded by Roc Zacharias, who is also the CEO of Lunar Digital Assets, a blockchain marketing and consultancy firm that also acts as an advisor to the exchange. It is furthermore advised by the Matic Foundation, a governing body of the Polygon blockchain.
QuickSwap launched in May 2021 with over 96% of the tokens distributed to the community. It is now considered the main decentralized exchange for Polygon, a layer-two solution for Ethereum.
The exchange doesn’t provide any information about its headquarters.
At the time of writing, there is no information about restricted countries on this exchange.
QuickSwap supports all ERC-20 tokens deployed on Polygon, including wrapped tokens like wrapped Bitcoin.
The exchange charges a 0.3% fee for swapping tokens, which is distributed among liquidity providers on a pro-rata basis.
There is no margin or leverage trading option on this exchange.
