What is Quickswap[New] (QUICK)?

Quick Facts

  • Type: Decentralized exchange (DEX) native governance token
  • Blockchain: Primarily Polygon, also available on Ethereum
  • Model: Automated Market Maker (AMM), forked from Uniswap V2
  • Launched: 2021 on the Polygon network
  • Ecosystem: Known as 'DragonFi,' spanning multiple chains
  • Key uses: Governance voting, staking, and fee sharing
  • Token version: 'New' QUICK replaced the original QUICK via migration

Introduction

QuickSwap is one of the most prominent decentralized exchanges (DEXs) in the DeFi ecosystem, built natively on the Polygon network. Its native token, QUICK, serves as the backbone of the platform's governance and incentive structure.

The 'New' designation refers to an upgraded token contract that replaced the original QUICK, preserving continuity while allowing the protocol to evolve.

History & Background

QuickSwap launched in 2021 as a fork of Uniswap V2, adapted for the Polygon network to address the high gas fees and slow confirmation times that burdened Ethereum-based trading at the time.

The protocol quickly rose to become the most widely used DEX on Polygon. Over time, it expanded its reach under the DragonFi brand, deploying across Polygon zkEVM, Base, Immutable zkEVM, and other EVM-compatible networks.

How Quickswap[New] Works

QuickSwap uses an Automated Market Maker model, where trades are executed against liquidity pools rather than traditional order books. Users deposit token pairs into pools and earn a share of the 0.3% trading fee generated by each swap.

The platform supports advanced order types like limit orders and dTWAP orders through third-party integrations. It has also expanded into perpetual futures trading via QuickPerps, offering leveraged positions of up to 50x.

Tokenomics

QUICK is the native utility and governance token of the QuickSwap ecosystem. Token holders can stake QUICK to earn a portion of platform trading fees, directly linking holder incentives to protocol activity.

The token is also used for governance voting, allowing the community to propose and decide on protocol changes. Liquidity providers may receive QUICK as additional rewards, encouraging sustained liquidity depth across trading pairs.

Circulating supply ? 1.86 billion QUICK
Total supply ? 1.86 billion QUICK
Max supply ? 872.11 million QUICK
Updated 3d ago

Ecosystem & Use Cases

QuickSwap's ecosystem goes well beyond basic token swaps:

  • Liquidity provision: Users supply assets to pools and earn passive fee income.
  • Yield farming: Additional QUICK rewards incentivize key liquidity pairs.
  • QuickPerps: A decentralized perpetual exchange on Polygon zkEVM for leveraged trading.
  • Gaming hub and launchpad: Supporting emerging Web3 projects within the DragonFi ecosystem.

Team, Governance & Community

QuickSwap operates with a community-first governance model. QUICK holders participate directly in protocol decisions through on-chain voting, shaping upgrades, fee structures, and expansion strategies.

The project has received support from Polygon's core team and has grown its community across multiple chains. Governance is progressively decentralized, with proposals open to any QUICK holder.

Advantages

  • Low fees and fast speeds: Polygon's infrastructure makes trading significantly cheaper than on Ethereum mainnet.
  • Battle-tested codebase: Built on Uniswap V2's audited smart contracts, providing a trusted technical foundation.
  • Multi-chain expansion: The DragonFi ecosystem spans several chains, broadening user access.
  • Comprehensive DeFi suite: Swaps, farming, perpetuals, and a launchpad all within one ecosystem.

Risks & Challenges

  • Smart contract risk: Despite audits, DeFi protocols remain exposed to potential vulnerabilities.
  • Competitive landscape: QuickSwap faces intense competition from other DEXs on Polygon and across EVM chains.
  • Liquidity fragmentation: Expanding across multiple chains can dilute liquidity from the core Polygon deployment.
  • Token migration complexity: The transition from old to new QUICK may cause confusion among users unfamiliar with the migration.

Long-Term Vision

QuickSwap aims to cement its position as the go-to DeFi hub across Polygon and EVM-compatible networks, continuously adding products and chains under the DragonFi brand. The long-term roadmap focuses on deeper liquidity, more sophisticated trading tools, and a fully community-governed protocol that serves both everyday traders and institutional DeFi participants.

Frequently Asked Questions

QUICK is the native token of QuickSwap, used for governance voting and staking to earn a share of platform trading fees. It is also distributed as a liquidity mining reward to incentivize liquidity providers.

QuickSwap migrated from its original token contract to a new one, referred to as QUICK (New). The new token maintains the same utility and governance role while enabling protocol improvements and a cleaner tokenomics structure.

QuickSwap operates primarily on the Polygon network but has expanded under the DragonFi brand to Polygon zkEVM, Base, Immutable zkEVM, and other EVM-compatible chains. The QUICK token contract exists on both Polygon and Ethereum.

QuickSwap charges a 0.3% fee on every trade executed through its liquidity pools. This fee is distributed among liquidity providers and, in part, to QUICK stakers.

Yes, QuickSwap is fully permissionless. Anyone can list a token by providing liquidity for a new trading pair, and no sign-ups or KYC processes are required to trade.

QuickPerps is a decentralized perpetual futures exchange launched by QuickSwap on Polygon zkEVM. It allows traders to take leveraged positions of up to 50x on supported assets.

QuickSwap is governed by QUICK token holders, who can submit and vote on proposals covering protocol upgrades, fee adjustments, and ecosystem expansion decisions.

QuickSwap is built on battle-tested Uniswap V2 smart contracts that have been independently audited. However, as with all DeFi protocols, users should be aware of inherent smart contract and liquidity risks.