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.