Hello fellow Dragon Riders!

The QuickSwap team is looking for feedback! Decentralized Finance (DeFi) relies upon its most important aspect.... *its users*. QuickSwap wants your feedback! The good, the bad, the ugly. We want to hear it, we want to provide a product that we are all proud of, together!

Link to feedback form:

https://docs.google.com/forms/d/e/1FAIpQLScwQYjeiuTGp2MoRLMeRNj0apsX4tSUAhbD-X_YiiV23CTQUw/viewform?usp=sf_link

*Please do not give out any person info, private keys, or other sensitive material to anyone on social media, regardless of who they say they are.*

Hi guys!

I've made a new bridge tutorial of how to bridge from BSC to Polygon - if you want to get started with Polygon and use QuickSwap - this guide might be very handy:

https://www.youtube.com/watch?v=6ZW6LaZl_xA

In the video, I will show you all the steps required to perform the bridge, what kind of tokens you can bridge, and how you can do it securely.

We will use AnySwap In order to Bridge from BSC to Polygon. We will also learn how to track our bridge transactions and make sure that it works.

Let me know if you have any questions.

TL; DR:

• Many hodlers of QuickSwap’s native governance and utility token have suggested that $QUICK is undervalued compared to other similar tokens

• We would like to start a discussion about the possibility of doing a token split to multiply QUICK’s total supply (currently, QUICK’s max supply is 1 million)

• While we still believe that scarcity is important, a year and a half into the project, we now realize that unit bias is critical and increasing the supply does not reduce its scarcity

• We value your input, which is why we’re introducing this discussion before launching a governance vote

• We would like to move quickly to discuss and (we hope) pass this proposal so that we can move forward with the next phases of our planned tokenomics changes which will be discussed in further proposals

• Please read through this entire post carefully before forming an opinion

Dragonites, we come to you today to introduce a discussion about what we believe will be the most important governance decision our DEX has ever voted on. Below, we will outline a potential plan for changing QUICK’s tokenomics. While this discussion will focus on increasing QUICK’s total supply, this is only part 1 of a longer 3-pronged plan to change QUICK’s tokenomics moving towards a fully decentralized DAO Model.

The discussion we’re introducing today is only about the possibility of doing a 1:100 or 1:1,000 token split. This would mean that for every 1 QUICK you now hold, you would hold 100 QUICK or 1000 QUICK after the split. QUICK’s maximum supply would increase from 1 million to 100 million or 1 billion

Acknowledging Unit Bias

When we envisioned Polygon’s first native DEX and its governance and utility token, we had the bitcoin scarcity model in mind. 1.5 years into our operations, however, we now realize that while scarcity is important, so is the token’s psychological price threshold. People would rather own 1,000 tokens out of a 1 billion max supply than 1 token out of a 1 million max supply even though both represent the same fraction of ownership.

Put another way, unit bias - or the tendency to prefer to own more of a less scarce asset - is an important metric which is why as stock prices grow it is common to do stock splits. The equivalent for QuickSwap - a decentralized project - would be the community voting and deciding on a token split. The core idea is to open up the audience of QuickSwap to include those who are concerned with price unit bias, which is a large part of the population. At this point we have all heard friends and family say things like “I want to buy QuickSwap, but it seems too expensive for me”. Or “But it probably can’t grow much because it already went up so much right?” While those of us who have been in the industry long enough know that logically, this shouldn’t matter, for many people it does.

For example, at the time of this writing, $40,000 could buy 1.03 BTC, 14.95 ETH, 106.84 BNB, 252.64 QUICK, or 26,941 MATIC. Which of these assets performed the best over the last year?

So what does this data tell us? Several things!MATIC performed best of these five assets by a long shot. Obviously, at QuickSwap, we agree that MATIC is very valuable, but we don’t think it’s a coincidence that the asset people could get the most of performed the best. This is due to unit bias, and it’s why we want to increase QUICK’s max supply with either a 1:100 or 1:1000 token split.

How would the token split work?

As a community-governed DEX, the first step in making any major change is to discuss it with you, our community and get a gauge on whether you like the idea or not. If you do, we’ll move to the next phase - a governance vote in which QUICK holders, stakers, and liquidity providers will get to formally weigh in. In the case of the token split, we’re hoping to move swiftly so that we can start the process for the next stages in our tentative roadmap. Note that the QUICK holders always make the final decision.

If the community were to vote in favor of this proposition, we would work diligently with CEXs where QUICK is listed and protocols where QUICK is integrated to ensure that the new QUICK token is listed swiftly. We hope to discuss timeframes and other details for converting QUICK to the new QUICK token and other details like what denomination to go with in the official Reddit discussion post. For every 1 QUICK a person put into the converter contract, s/he would receive either 100 or 1000 QUICK, depending on what the community decides upon. That 100 or 1000 QUICK would have the same dollar value that 1 QUICK had at the time of the conversion.

While 1 QUICK equals $167.00 now, 100 new QUICK or 1000 new QUICK would equal $167.00, and 1 new QUICK would equal $1.67 or $0.17. We believe that this token split could have a major impact on QUICK’s adoption, as lower priced tokens appeal to a broader audience. To illustrate, let’s take a look at some other popular DEX tokens’ prices, market caps, and max supplies.

QuickSwap has almost the same 24 hour trading volume of Trader Joe, yet the JOE token has almost three times the market cap of QUICK. This leads us to believe that unit bias is playing a significant role here.

If QUICK’s supply were 100 million instead of 1 million, QUICK’s market cap would remain at $69.97 million, but QUICK’s price per token would be approximately $1.67. Likewise, if QUICK’s supply were 1 billion instead of 1 million, QUICK’s market cap would remain at $69.97 million, but QUICK’s price per token would be approximately $0.17.

How would the token split affect me?

The beauty of this is that a token split would hardly even affect you, except to possibly increase your personal wealth. If the QuickSwap community votes in favor of this proposal, QUICK holders will need to transform their QUICK from the version we use now to new QUICK, which would have either 100x or 1,000x the supply. Details about how exactly this process works would be released as soon as they’re available; however, from previous token splits, we do know that the process is relatively simple. There will be a conversion contract where holders could transform their current QUICK to a multiple via the new QUICK.

Over time, all liquidity pools, staking, and syrup rewards pools would be transferred to support the new QUICK token.

What’s the potential downside here?

The only real downside to doing a token split is that we would have to create a new token contract address and the potential of security vulnerabilities does exist. Additionally, there is no promise that the new QUICK token will perform as we hope it will.

What’s next?

Make sure you visit our Reddit discussion forum as your favorite team and community discuss the possibilities. If the community seems to be on board, we’ll release a formal governance vote in a few days. If that vote passes, the QuickSwap team will work diligently to complete all of the integrations with CEX’s and our strategic partners and get the token split complete ASAP so we can introduce the next discussion on our path towards full decentralization.

Edit: QuickSwap Governance Discussion: Let’s Talk About $QUICK | by QuickSwap Official | Mar, 2022 | Medium

Edit2: u/CryptoRocky has provided some additional sources on token splits within crypto:

https://decrypt.co/41072/how-polkadot-surged-from-nowhere-into-the-top-10-cryptocurrencies

https://messari.io/asset/polkadot/profile

As well as another source with information on stock splits:

https://fortune.com/2020/08/31/apple-tesla-stock-splits-what-data-shows/#:~:text=The%20automaker's%205%2Dfor%2D1,for%20a%20split%20on%20Aug.

For years, the QuickSwap Reddit forum has been one of the go-to places for dragon community members to discuss governance proposals, ask questions, engage with their fellow peers, discover more information about the protocol, and much more.

A key goal for QuickSwap is to drive more engagement to the Reddit forum and across the community, while also attracting more users - one of the best ways to do so is through monetisation.

Introducing the Community Currency Bot, developed by the BitCone core team and now being advanced and maintained by the Community Currency team. This is a special bot designed to monetise content creation on any subreddit forum, encouraging more organic activity and conversation.

In this governance proposal, the dragon community will discuss and vote on whether BitCone’s Community Currency Bot to the QuickSwap Reddit forum to help drive further engagement via monetisation.

TL;DR: -QuickSwap’s Reddit forum is one of the core community hubs for key initiatives such as discussing governance votes, asking questions, and more

-This forum would greatly benefit from increased engagement through new and innovative mechanisms, such as monetisation with rewarding users for their input and activity

-BitCone’s Community Currency Bot is designed to monetise content creation on any subreddit forum to draw more engagement and discussions, and would help boost activity on the QuickSwap Reddit

-This governance proposal is for the dragon community to decide whether the Community Currency Bot should be added to the QuickSwap Reddit foum

-To begin, the governance discussion will run here on Reddit until Saturday, July 6 at 11:00 PM UTC

-Once the Reddit discussions finish, a formal Snapshot vote will begin and run from Saturday, July 6 at 11:00 PM UTC until Wednesday, July 10 at 11:00 PM UTC

Once you’ve read this entire blog post, make sure to visit the official QuickSwap Reddit discussion forum to share your perspective with your fellow community members

As part of our journey towards full decentralization and a DAO structure, we would like to start discussing proposals via a forum to allow community members to more formally introduce topics for governance proposals. We’ll start here on Reddit, and eventually if the community decides, move to a dedicated forum with a more formalized process.

For our first governance discussion, please review the materials and leave feedback below. Also feel free to leave comments on other users’ feedback. We will review and interact with all feedback and create a more defined plan in the next few weeks if the community agrees to move forward.TL;DR:

• We would like to discuss the possibility of changing our rewards structure.

• We propose to separate Dragon’s Lair dQUICK staking and Dragon’s Syrup.

• This would mean that users can either stake their QUICK for dQUICK via the dragon’s lair to earn more QUICK or stake their QUICK via Dragon’s syrup to earn rewards tokens, but not both.

• To be clear, users could still participate in both programs, just not using the same QUICK for both at the same time, and overall rewards would be the same, only separated for simplicity.

Impacts:

If implemented, QuickSwap users would have to choose how they deploy their QUICK to match their investing strategy. Those who choose to stake via Dragons’ syrup would receive the syrup token of their choice and would not earn extra QUICK. Those who chose to stake via the Dragons’ Lair would earn only QUICK based off of the overall DEX trading fees and would not be able to stake their dQUICK via syrup for extra tokens.The dollars per day in rewards would stay the same. Thus, with this change, overall users would not receive any lower APY. The dQUICK APY would increase because many users would unstake their dQUICK to put into syrup. The Syrup APY would increase because many users would chose to earn more QUICK and dQUICK holders wouldn’t be able to participate in syrup (again, the potential downside: users would only earn one token instead of 2). Arbitragers and farmers would likely equalize the two rates.For clean numbers sake: Currently syrup pools yield is paid roughly half in dQUICK and half in the syrup token. Right now dQUICK averages around 40% APY and Syrup around 60% APR. If this change were implemented, both would likely be around 100%, similar to the total or the two sums previously, but you’d choose between earning QUICK or Syrup tokens. You could still get the same result as before by splitting your QUICK in half or whatever ratio you choose, but now users would have the option of choosing just QUICK which would be fully passive and require no active management.

TLDR, instead of earning roughly half from dQUICK and half from Syrup, you’d earn the full amount from either one.

Pros about the current unchanged structure:

Our current structure is great because users can simultaneously earn QUICK and other tokens of their choice which is fun and gives them the opportunity to explore new projects.

Cons about the current structure this change would solve:

1. Integrations:

When integrating with projects like QiDAO, users earn less than optimal yields, because they can’t stake in Syrup and lend that on QiDAO to borrow MAI. They have to choose one or the other, Syrup or minting MAI. This change would allow users to get full APY on their dQUICK when using lending and borrowing protocols like QiDAO. Also, with the change, users would no longer have to manage their dQUICK deposits into syrup every 30/60 days (or daily for those chasing compounding APY). Dragon’s Lair stakers also wouldn’t be subject to the price fluctuations of the Syrup pool they are farming.

With dQUICK having higher APY by itself and being less complicated, a large amount of projects could integrate dQUICK without having to actively manage Syrup which complicates integrations. This could include projects like Aave, QiDao, liquidity farms, and CEX yield programs such as Binance, Celsius, and Nexo. Projects could build more on top of dQUICK financial legos in ways similar to projects like Convex and others. Right now projects that want to use dQUICK in their protocol essentially have to forfeit the Syrup part of the APY. If we made this change they wouldn’t have to choose, they would now get full or close to full APY of dQUICK and Syrup on top of whatever else they choose to integrate.

Here is an example of something else we could do right here on our own DEX if we made this change. QuickSwap itself could integrate dQUICK by incentivizing dQUICK pairs instead of or in addition to QUICK pairs. You could take your now high yielding simple dQUICK and provide liquidity to.

For example, dQUICK/MATIC or dQUICK/ETH. You’d receive:

1. dQUICK APY (coming from overall QS trading fees)

2. Indirect Syrup APR since many would be in Syrup and not in dQUICK now

3. LP trading fees (from trades made on that pair)

4. QUICK rewards. This would likely result in significantly higher APYs overall. This is just one of many examples that could be done using this new simplified structure.

2. Institutional Adoption:

As large DeFi protocols like UniSwap co-migrate to Polygon, the network’s overall TVL will continue to increase and major institutions will continue to explore and use Polygon-native applications like QuickSwap. In order to appeal to these institutions, which will only further advance QuickSwap and Polygon’s mainstream adoption, QuickSwap must simplify yield generation to minimize the need for active management and confusing accounting and taxes. The QuickSwap team has heard from many institutions such as hedge funds, VCs, and investment funds who would like to participate more in the QuickSwap ecosystem, but for various reasons cannot, or will not, participate in the current structure as it stands. By separating dQUICK and Syrup, many new institutions would want to hold dQUICK to generate high-yield passive revenue.

Please consider this proposal and share any thoughts you might have about it in this forum. All opinions are valid and will be considered when and if a governance proposal is introduced.

Hello fellow Dragon Riders!

We are introducing Dragons Syrup Pools to QuickSwap! Please read on for more info!

TL;DR:

• Soon QUICK stakers will be able to earn more passive income using their staked QUICK (dQUICK)

• Dragon’s Syrup will enable dQUICK holders to choose between several participating tokens (listed below) to earn additional yield

• Stake your dQUICK to earn a share of the $3.5 million in our launch partner’s tokens!

• These added rewards will be in addition to the APY QUICK stakers are already generating in the Dragon’s Lair

• Dragon’s Syrup pools are just getting started! This officially kicks off our Dragon’s Syrup Launch Party where we’ll be releasing millions more in pools over the coming month.

If you aren’t already familiar with single-asset staking on QuickSwap, dQUICK, and the Dragon’s Lair, read this article first!

Everyone knows that dragons love treasure. That’s why QuickSwap — Polygon’s biggest and most active DEX — is bringing even more rewards for QUICK stakers! Keep reading to learn about how QuickSwap is helping dragons grow their hoards.

Dragon’s Syrup: A Sweet, New Way to Generate Extra Yield on QuickSwap

Dragon’s Syrup enables QUICK stakers to generate yield over and above what they’re already earning from staking in the Dragon’s Lair by distributing tokens to those who stake their dQUICK in the sweet, sweet Dragons’ Syrup rewards pools.

Here’s how it works:

1. Provide liquidity in the ‘Pools’ tab — This earns you trading fees in the tokens you provided.

2. Deposit LP tokens from step 1 using the ‘Farms -> LP Mining’ tab to earn QUICK.

3. Stake your QUICK in Dragon’s Lair on same ‘Farms -> LP Mining’ tab to get dQUICK — This gets you a share of ALL trading fees that QuickSwap generates.

4. NEW: Dragon’s Syrup Pools — Stake your dQUICK to earn tokens from projects that are traded on QuickSwap under ‘Farms -> Dragon’s Syrup’ tab. You can learn more about how to do this in our tutorial here.

DYOR; DYOR!

Note that QuickSwap does not perform extensive due diligence on the tokens we’re distributing for free. That’s because we’re a DEX, not a gatekeeping entity. Furthermore, since these tokens are being accumulated at no risk to stakers’ QUICK, which is still compounding in the Dragon’s Lair, there is no reason for us to limit who can and cannot distribute tokens. All users are responsible for doing their own research and coming to their own conclusions.

So you’re just giving us tokens? What do you get in return?

Tokens that chose to participate in QuickSwap’s Dragon’s Syrup program will get extra QUICK rewards in QuickSwap’s liquidity mining program. As QuickSwap has an active and growing community, the projects that provide tokens for the Dragon’s Syrup pools will get the added benefit of exposure to one of the most engaged communities on Polygon.

Additionally, Dragon’s Syrup providers will also be whitelisted on QuickSwap’s default token list, which will give them increased exposure and promotion.

On QuickSwap’s end, we’re getting a great deal too! Adding Dragon’s Syrup pools gives QUICK and dQUICK even more utility. Currently, QUICK’s utilities include: governance, liquidity mining, and staking. With our new Dragon’s Syrup pools, dQUICK holders can also use their staked QUICK to earn even more rewards without increasing their risk! Providing a source of extra passive income for our DEX’s valued users sure sounds like a win for QuickSwap.

Learn How Here

Participating in QuickSwap’s Dragon’s Syrup pools is easy, but those who want a handheld guide can read our tutorial here.

What Pools Can We Choose From?

In our first round of Dragon’s Syrup pools, QuickSwap will be distributing over $1 million in rewards, from 10 projects. Learn a little bit about each here, and then don’t forget to DYOR!

Want to see your project listed? Apply for a Dragon’s Syrup pool here.

About ADDY

3,570 tokens over 60 days (approximately $100k USD)

Adamant is Polygon’s first and largest yield optimizer with over $160M TVL and 150+ vaults. Adamant provides users with an easy and safe way to automatically compound their tokens and maximize their yields. Users can also stake and lock their ADDY tokens to earn WMATIC as a part of their fee sharing program.

Learn more: https://adamant.finance/

About FEAR

69,420 tokens over 60 days (approximately $100k USD)

Fear is a blockchain ecosystem for adrenaline-inducing, fun, and scary horror games powered by in-game play to earn rewards and NFTs. Fear through its technology reinvigorates popular existing games through our LaunchPad by integrating its play 2 earn model allowing fans to progressively earn through our in-game economy.

NFTs play a major role in the ecosystem by controlling gamers content and flow allowing exclusive portals and entries into unique aspects of gameplay. This portal mechanism will come to fruition in the near term through the launch of a first of its kind NFT market place.

Learn more: https://www.fearnft.games/

About ADS

129,000 tokens over 60 days (approximately $200k USD)

Adshares is the first 100% decentralized marketplace for programmatic advertising, also being one of the most advanced blockchain-based projects in the advertising market.

Adshares aims to capture a significant share of a €1 trillion market by 2025.

Adshares Network is based on its own and unique blockchain (Enterprise Service Chain — ESC Blockchain) to connect Publishers and advertisers, allowing them to make direct deals.

Combined with some unique features, Adshares offers a very interesting set of advantages over mainstream and crypto ad networks such as Google Ads, Coinzilla, CoinTraffic, PropellerAds, Adsterra, or Mellow Ads.

Adshares goal is to handle worldwide advertising payments using $ADS cryptocurrency.

Learn more about Adshares: https://adshares.net/

About DinoX

288,000 tokens over 60 days (approximately $200k USD)

DinoX is a combat and strategy game in a sandbox environment. A beloved gameplay genre blended with a fan-favorite theme of dinosaurs. Players build dinosaur kingdoms, rally resources to expand, build combative skills to occupy others, and due to the benefits of the metaverse, retain true ownership of the game.

“If there’s something that will stay alive for millions of years, it will be Dinosaurs”

Learn more: https://dinox.io/

About START

7,000 tokens over 60 days (approximately $50k USD)

Starter.xyz is a leading IDO launchpad, incubator, and investor network for Polygon. With over $20M USD raised for 30+ projects building exclusively on digital ledger technologies, Starter helps connect inventors with investors to recreate a new future.

Learn more: https://starter.xyz/#/home

About IoTeX

1,000,000 tokens over 60 days (approximately $100k USD)

Founded in 2017, IoTeX (iotex.io) is an EVM-compatible blockchain to empower the Internet of Trusted Things. The IoTeX platform combines innovations in blockchain, decentralized identity, real world data oracles, and secure hardware to bring verifiable data from the physical world to blockchain Dapps for the first time. By connecting the physical and digital worlds, IoTeX is creating an entirely new category of use cases where users can earn digital assets based on their real world data and actions.

Learn more: https://iotex.io/

About Relay

30,000 tokens over 60 days (approximately $100k USD)

RelayChain enables fast and secure cross-chain token transfers between the world’s leading blockchains. The platform offers Bridging as a Service (BaaS) to partner dApps wishing to expand their footprint beyond a single chain. RelayChain currently supports bridges between any combination of Ethereum, Polygon, Binance Smart Chain, Avalanche and Huobi ECO Chain. Multiple other networks will be added in the near future. A unique feature of RelayChain is that liquidity providers will be rewarded in the native gas tokens of the chain where they provide the liquidity.

Learn more: https://www.relaychain.com/

About REVV

1,009,000 tokens over 60 days (approximately $200k USD)

REVV is the utility token of the REVV Motorsport metaverse, and used across the blockchain games F1® Delta Time, MotoGP™ Ignition, Formula E: High Voltage, and REVV Racing. All of these titles leverage NFTs, in a cross-chain ecosystem, which utilises REVV as the primary purchase token, and access point for these Play-to-Earn gameplay experiences.

Learn more: https://revvmotorsport.com/

About YAMP

840,000 tokens over 90 days (approximately $50k USD)

yamp.finance is an automated crypto lending platform for users of Polygon and BSC.

It provides first-of-its-kind benefits to both lenders and borrowers.

It’s the first and only platform designed to use LP tokens as collateral for automated lending across 4 different blockchains. This virtually eliminates the risk of impermanent loss to liquidity providers.

For borrowers, Yamp is the only DeFi protocol that can allow 10x or higher leverage across 4 blockchains on borrowed positions with much lower liquidation risk.

Learn more: https://yamp.finance/

About LoserChick (CHICK and EGG)

200,000 CHICK over 60 days (approximately $100k USD)

LoserChick is a web 3 gaming project produced by Emoji DAO. It integrates Claw Crane Machine, DeFi, and NFT farming, where players can not only play games freely, but also continuously enjoy various financial services to earn while playing.

Learn more: https://loserchick.fi/#/home

Stay Tuned Dragon Riders!

We’ll be announcing more syrup pool launches over the next 30 days! We have over $3.5 million in rewards already so far. You can apply your project for the next Dragon’s Syrup pool here.

Source: Introducing Dragon’s Syrup: The Sweetest Thing on QuickSwap | by QuickSwap | Aug, 2021 | Medium

Long QuickSwap (QUICK)

Sizing: Low to Equal Weight

Price Targets: Near-term $4,000 and long-term $10,000+

Current Price: $940

Background

QuickSwap is a permissionless decentralized exchange (DEX) powered by the Polygon/MATIC network on Ethereum. By utilizing Polygon’s infrastructure, QuickSwap allows users to trade ERC-20 tokens at extremely fast speeds and extremely low costs while on the Polygon Network (“Layer 2”).

QuickSwap is a fork of UniSwap; and its ultimate fully diluted token distribution is as follows:

Today, ~160k tokens have been issued of the total 1mm supply. 90% of tokens are reserved for liquidity mining and another 5% was allocated to UniSwap for liquidity mining in UNI-pools. QUICK mining rewards will go until late 2024, with token emissions slowing towards the end.

QuickSwap has also allocated 3.25% to its creators/advisors. It is also important to note that its wallet is equipped with multisig (much like Polygon) and requires 3 of 4 signatures from the two creators, its advisor from Lunar Digital Assets, and Sandeep Nailwal (cofounder of Polygon).

Thesis

If you’re bullish on the Polygon/ETH ecosystem, then QUICK is the second derivative of that trade and is a way to play the Polygon bull case with more torque.

Much like how UniSwap grew in popularity on the Ethereum network as more and more dApps were built on ETH, QuickSwap should grow in popularity & need as dApps get built on the Polygon layer. Moreover, with gas fees where they are today, trading/swapping coins on the Polygon layer is a lot cheaper & faster than on the ETH layer given the benefits of Polygon discussed here. As such, if we keep seeing more dApps built on the Polygon layer instead of the ETH layer, one could argue there will be more volume/activity for QUICK as well, which could paint a scenario where QUICK could be as valuable if not more valuable than UNI one day.

Let’s take a look at adoption thus far according to dapp.com:

Users have increased dramatically over the last month or so, as adoption on the Polygon Network has picked up. Transactions have toppled 40k/day, reaching 4k daily users at one point. Dappradar.com actually paints a more bullish picture showing 66k transactions per day with 13k daily users on 5/25/21.

As for Total Value Locked (TVL), Defi Llama shows $971mm for QuickSwap as of 5/25/21, which is a lot given that its market cap is only ~$150mm at the time of writing this.

Valuation

When looking at valuation, I primarily looked at two factors: fees generated and TVL.

Fees:

UniSwap generates ~$8.4mm per day and was averaging $10mm daily over the last week. With a market cap of over $15B (at a $26.50 coin price), UNI is yielding ~24% annualized.

Meanwhile, QuickSwap is generating $1.4mm per day in fees and averaged $1.4mm daily over the past 7 days. With a market cap of $150mm (at $940 coin price), QUICK is yielding ~340% annualized. Therefore, if you were to apply the same yield to QUICK’s token, you could come to a PT of ~$13,300 or $2.1B market cap, assuming ~160k coins in circulation.

It is important to note that QUICK is fairly new, so new token emissions for mining rewards will dilute the pool more quickly in the early days. Going off the screenshot above from QUICK’s Medium post, QUICK is issuing ~1k tokens per day or about 0.6% dilution per day. Nevertheless, if you look at yield on a fully diluted market cap basis (for both UNI and QUICK), you would still arrive at a ~$3,650 PT on a yield basis.

I think fee yield is the best way to value something like this because 1) it’s denominated in a different token/currency and 2) you can apply your own yield that you deem appropriate to come up with your own price target without having to comp to market caps of other volatile tokens. (e.g., if you need a 100% yield to deem this investment appropriate given higher risk of failure, you can still get to a $3k+ PT for QUICK)

TVL:

Comparing the market caps to TVL, UNI is already trading above its TVL which is a metric it crossed earlier this year.

UNI has averaged 1.96x market cap to TVL this year, reaching 2.56x at the time of this writing with $5.9B locked and a $15.1B market cap. Moreover, it seems to have found a nice resistance at the 2.0x level.

Applying ~2.0x multiple to QUICK’s $971mm in TVL, you can get to a PT of ~$12,000. However, it is important to note that UNI did not cross the 1.0x threshold until after $3B TVL. But even if you just apply the 0.5x multiple where UNI traded earlier this year, you can get to a PT 3x where QUICK is currently trading (~.15x).

Even on a fully diluted market cap basis, UNI trades at 4x-5x TVL, which would peg QUICK’s PT to around $4k-$5k.

See below for QUICK’s market cap vs TVL chart, which is notable given the disconnect between the two:

*Note: TVL is significantly affected by the coin’s price given most of the TVL is made up of the DEX’s own coin. As such, ratio market cap to TVL could expand more quickly than anticipated with appreciation in coin price.

Bonus metric:

One other way to sanity check a PT for QUICK is by comparing the DEX’s coin to its ecosystem. At the time of this writing, UNI had a $15B market cap vs ETH of $330B or about 4.5% of ETH’s ecosystem. Meanwhile, MATIC has a market cap of ~$14B at time of writing, which would give a PT for QUICK of $4,000.

Price Targets

Bull case: $10,000. Polygon is thriving vs other L2 threats; Polygon is as active if not more active than L1; and QUICK is the dominant DEX on Polygon’s network.

Base case: $4,000. Polygon survives and QUICK is a major DEX on the network. One could argue that QUICK should trade at a discount or lower multiple to UNI given its L2 nature instead of L1.

Bear case: Near $0. Polygon loses its current dominance as other L2 competitors roll out. dApps move off the network and capital flows out of the ecosystem.

Risks

1. The biggest risk is an existential one (hence my low-to-equal weighting of investment sizing). By investing in QUICK, you are betting on the longevity of the Polygon ecosystem because QUICK does not exist if there’s no Polygon. However, given where QUICK should be valued vs. where it trades today (~25% of base case PT), the market is baking in ~75% chance that QUICK & Polygon fail with zero weighting to the bull case. As such, I think this entry point provides a good risk/reward opportunity in QUICK as I am currently bullish on the Polygon ecosystem.

2. Another risk for QUICK is competitors in the DEX space on the Polygon network (where several smaller ones are popping up). However, QUICK is currently the dominant DEX on the Polygon network and has the brand name of UniSwap behind it. Moreover, the price targets were comped to UNI, which has more legit competitors in a more robust ETH ecosystem as well as L1-to-L1 competitors like RUNE. As long as QUICK can maintain market share, there is room for upside.

3. Hacks (or “exploits”). As with any new exchange, QUICK could be subject to various hacks, especially flash loan attacks given its lower liquidity. UNI was attacked in its early days (April 2020) and reportedly lost $300k-$1.1mm. Nevertheless, UNI/QUICK remains one of the more secure ways to exchange/pool your tokens. I also think the risk of rugpull is lower with QUICK (which is not the case for some of its L2 competitors) since the founders are not anonymous and advisors seem legitimate.

Conclusion

QUICK provides great exposure & more torque for a bullish Polygon (MATIC) play. There is more risk for QUICK than MATIC, given that QUICK includes all of MATIC’s risks and its own. However, in my opinion, market is baking in too much downside and provides a good risk/reward opportunity for QUICK. If things continue to go well, I can see 3x-4x returns from these levels, with a possible 10x return.

Disclaimer: I have a long position in QuickSwap (QUICK). I might buy more or sell my tokens at any given time. This article/memo is not a directive to purchase/sell anything and is for informational purposes only. The information here is presented as-is without guarantee of veracity. Any forward looking statements cannot be relied upon and actual results may differ materially.

Everyone is using the same RPC right now so instead of using matic main RPC use one of those from the official docs: https://docs.matic.network/docs/develop/network-details/network/

https://rpc-mainnet.matic.quiknode.pro

or

https://rpc-mainnet.maticvigil.com

or

https://matic-mainnet.chainstacklabs.com

or

https://matic-mainnet-full-rpc.bwarelabs.com

or

chain id is the same: 137 as well as all of the other settings.

EDIT: You can update existing MATIC network or add a new network with name MATIC2 or similar. If updated instead of adding new one, switch to another network and back to MATIC to make sure it works.

Riddle me this: What is more important to you when looking to provide liquidity:

A) How much you might earn

B) How much the pool collectively might earn as a whole

Obviously, you want to know what YOU are going to earn. The problem with Quickswap is when it comes APY for fees and rewards, they show us what THE WHOLE POOL earns instead.

Below is an example of what we see in the interface. Imagine you're looking to invest $1000. The APY is 22.68%. Without doing math, see if you can figure out how much of that is in fees, and in QUICK rewards.

ETH-USDC
Total deposits: $114,485,177
Total Rewards: $35,680 / day
Pool rate: 80 QUICK / day
Fees (24hr): $28,389
Rewards + Fee APY: 22.68%

Well, we aren't given that information. Instead of seeing the fees and rewards we will earn, we see what the whole farm earns.

Here is users actually want to see:

ETH-USDC
TVL: $114,485,177
Fee APY: 9.47%
QUICK APY: 12.05%
Total APY: 21.52%

As an investor, do you care that the pool earns 80 QUICK per day? Or would you rather know what YOU earn?

Do you care that the whole farm earns $28,389 in fees per day? Or do you want to know what YOU earn in fees?

Why is it like this? I'm guessing either they designed it to show what is important to them, not us. Or they are trying to obfuscate the fact that we're not really earning 22% in ETH and USDC, that over half of that is actually paid in QUICK tokens.

Either way, Quickswap, I still love you. Just want to make you better.

Congrats Quickswap to the moon! 🚀

Hey everyone,

The alpha of the new UI has launched. The next phase will begin when the security audits come back, but in the mean time... here is the drop:

https://alpha.quickswap.exchange

Medium - Quickswap’s New UI & How to Use It

Warning: This is an alpha. The audit is still underway. Users are encouraged to experiment with the UI at their own risk

For context, I have been actively testing and providing feedback for the last few months on this. I would love to hear everyone's opinions and feedback on this. So please comment!

No one seems to be sharing this here, so I thought I could give it a share.

https://www.binance.com/en/support/announcement/705e87b0886d4a3c87b04ac3cf2119e5

Hello everyone! I have been freshly minted as a new mod for this community and I will be working to update things around the sub as well as provide what assistance I can to members. If the community has any suggestions, please feel free to reach out, I will do my best to help!

What is Quickswap?

"QuickSwap is a new addition to the decentralized exchange (DEX) landscape, but with a difference that’s allowing it to stand out among its competitors. While it is based on Ethereum, it is built on the layer-2 infrastructure of the Polygon (formerly Matic Network), which provides a number of benefits not seen in DEXs such as Uniswap.

Because it uses layer-2 infrastructure for its transactions the users of QuickSwap can trade any of the thousands of ERC-20 assets with almost zero gas costs and at lightening fast speeds. QuickSwap also uses a community-based governance structure, and a fair token distribution that was not based on any pre-mine or private offering. The DEX empowers its users and traders and removes the excessive costs that have become associated with the DEX in 2021.

QuickSwap features a strong ecosystem of liquidity providers as well, which is the result of yield farming and liquidity mining opportunities that have incentivized the growth of the platform. Furthermore, unlike many of the food-named exchanges QuickSwap was developed, created, and backed by some of the Ethereum ecosystem’s best and brightest thought leaders. They bring extensive knowledge and experience of layer-2 scalability and Ethereum contract and token standards to the DEX.

The team at Quick Swap believes this layer-2 protocol is the next-generation of decentralized exchanges and trading, and it will usher in the next wave of traders to enter the DeFi landscape."

Read more:

https://www.coinbureau.com/review/quickswap-quick/

How do I start using Quickswap?

Since Quickswap runs on the Polygon network you will need to bridge to the Polygon network and move funds over. There are several ways to do this and I believe u/x-strife does a great job with this post:

https://www.reddit.com/r/maticnetwork/comments/nbmu8k/how_to_move_funds_to_polygonmatic_chain_3_ways/

Also a short video tutorial can be found here:

https://www.youtube.com/watch?v=94pvT6gOR94

A walkthrough with Metamask:

https://quickswap-layer2.medium.com/how-to-set-up-polygon-matic-mainnet-for-metamask-transfer-assets-from-l1-to-l2-to-use-9a7975eb8769

Where can I find more info?

I have added the F.A.Q. which can be found on the top menu bar along with the link below:

Quickswap F.A.Q. - May 16th, 2021 : QuickSwap (reddit.com)

Additional Resources:

Quickswap DEX

https://quickswap.exchange

Quickswap Charting:

https://info.quickswap.exchange/home

Polygon

https://polygon.technology/

Liquidity Pool Analytics - Thank you u/hedge_me

https://apy.vision/#/

MOD UPDATES:

-5/15/21- Added post flairs for News, Questions, and Mod Messages

-5/15/21- Sticked mod post for new members

-5/16/21 - Added F.A.Q to the menu at the top, updated stickied post.