Polygon Extends $1 million Grant to QuickSwap to Boost Liquidity on the Platform (2024)

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Polygon Extends $1 million Grant to QuickSwap to Boost Liquidity on the Platform (108)

Polygon Labs

September 30, 2021

Polygon Extends $1 million Grant to QuickSwap to Boost Liquidity on the Platform (109)

Image source: Dribbble

Polygon has just extended QuickSwap, a leading decentralized exchange on Polygon, a one million dollar grant to boost adoption. QuickSwap is ranked as the second most popular application running on Polygon according to data published by Dapp Radar.

Sameep Singhania founded QuickSwap after growing frustrated by the high gas fees on the leading DEXs. Building the DEX on Polygon - a platform enabling high throughput and fast transactions - has helped QuickSwap become one of the more popular DEXs in the Decentralized Finance (DeFi) ecosystem. Data from Dapp Radar indicates that QuickSwap has reached $650 million in total value locked (TVL) on the platform.

The QuickSwap grant is intended to bolster liquidity across a few trading pairs such as

  • MATIC-QUICK
  • MATIC-USDT
  • MATIC-ETH
  • MATIC- USDC

Polygon’s grant comes after seeing the success of Aave in April. The Total Value Locked (TVL) surged on both Polygon and Aave following a grant in support of boosting liquidity.

By running on Polygon, QuickSwap lets users trade cryptocurrencies with near-zero gas costs. To yield farm on QuickSwap, users provide liquidity to the pool of their choice by navigating to the pool page, receiving LP tokens in exchange for a deposit, and depositing LP tokens to a corresponding pool.

QuickSwap’s native Quick token allows users to vote on governance proposals and can be staked, which rewards users with a portion of QuickSwap’s trading fees - the exchange charges a 0.3% fee on trades, and stakers earn 0.04% in rewards from these trading fees and 0.25% of the trading fees is rewarded to liquidity providers.

Polygon has seen growing popularity amongst DEXs and DeFi applications. The website DeFiprime.com lists 10 DEXs and 45 DeFi projects built on Polygon. Some popular DEXs running on Polygon include Balancer, Curve, and IDEX.

About QuickSwap

QuickSwap is a permission-less decentralized exchange (DEX) based on Ethereum, powered by Polygon. By accessing Polygon Web Wallet with Metamask, QuickSwap users can exchange tokens, mine liquidity, and buy cryptocurrencies with a credit card.

Be a part of our social ecosystem!

Polygon Extends $1 million Grant to QuickSwap to Boost Liquidity on the Platform (110)

Polygon Extends $1 million Grant to QuickSwap to Boost Liquidity on the Platform (111)

Polygon Extends $1 million Grant to QuickSwap to Boost Liquidity on the Platform (112)

Polygon Extends $1 million Grant to QuickSwap to Boost Liquidity on the Platform (113)

Polygon Extends $1 million Grant to QuickSwap to Boost Liquidity on the Platform (114)

Polygon Extends $1 million Grant to QuickSwap to Boost Liquidity on the Platform (115)

Polygon Extends $1 million Grant to QuickSwap to Boost Liquidity on the Platform (116)

Polygon Extends $1 million Grant to QuickSwap to Boost Liquidity on the Platform (117)

Polygon Extends $1 million Grant to QuickSwap to Boost Liquidity on the Platform (118)

Polygon Extends $1 million Grant to QuickSwap to Boost Liquidity on the Platform (119)

Polygon Extends $1 million Grant to QuickSwap to Boost Liquidity on the Platform (120)

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Polygon Extends $1 million Grant to QuickSwap to Boost Liquidity on the Platform (2024)

FAQs

How do I provide liquidity on QuickSwap? ›

LP on V3: New Token Pairs
  1. Visit https://quickswap.exchange/#/pools and connect your Web3 wallet. Switch to any network on QuickSwap supporting V3.
  2. Select the token pair you want to provide liquidity to. ...
  3. Next, select your price range. ...
  4. Enter the proportional deposit amounts for which you want to provide liquidity.
Nov 11, 2023

Read On ›
How do I add liquidity to my Polygon token? ›

How do I add liquidity to the NEX pools on Polygon?
  1. Click on Pool.
  2. Click on Add Liquidity.
  3. > Click on Select a token. > Copy and paste the NEX token contract below. ...
  4. Click on Select a token.
  5. > Type NEX. > Click on NEX.
  6. Click on Connect Wallet.
  7. Select Wallet Connect.
  8. Tap on Settings in your Nash app.
Oct 4, 2022

Discover More Details ›
What is QuickSwap polygon? ›

What Is QuickSwap? 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.

Continue Reading ›
How does QuickSwap make money? ›

Quickswap incentivizes users to add liquidity to trading pools by rewarding providers with the fees generated when other users trade with those pools.

See Details ›
How much does Quickswap charge for liquidity? ›

Liquidity provider fees

There is a 0.3% fee for swapping tokens. This fee is split by liquidity providers proportional to their contribution to liquidity reserves. Swapping fees are immediately deposited into liquidity reserves.

Find Out More ›
How to remove liquidity from QuickSwap? ›

Remove Liquidity
  1. In Your Liquidity Pools section, click on the drop-down arrow near Manage.
  2. Click on the Remove button.
  3. Adjust the slider depending on the amount of liquidity you want to remove.
  4. Click on Approve to allow the smart contract to interact with your wallet.
  5. Click on the Confirm button in your wallet.
Oct 10, 2022

Tell Me More ›
Can anyone add liquidity to a token? ›

Unlike on centralized exchanges, anyone can add a cryptoasset trading pair to a DEX or strengthen an existing trading pair by providing liquidity.

Show Me More ›
How do I increase my liquidity token? ›

You can add liquidity for any token pair by staking both through the Liquidity page. In return for adding liquidity, you'll receive trading fees for that pair, and receive either an NFT or LP Tokens you can stake in Farms to earn CAKE rewards!

Explore More ›
How do you provide liquidity in crypto? ›

To join a liquidity pool, you may need to purchase and own both assets within the chosen pool. On Balancer, another leading AMM-based DEX, this condition is known as adding "multi-asset" liquidity. For example, to provide liquidity in a LINK/USDC pool, you might need to own both Chainlink (LINK) and USD Coins (USDC).

Continue Reading ›
Is Polygon risky? ›

There is a risk for the Polygon system to run flawlessly and/or a negative impact on your MATIC crypto assets, incurrence of losses and, in addition to these, incurrence of losses in other cases besides the loss of your whole assets .

Show Me More ›

What are the benefits of QuickSwap? ›

Quickswap is a decentralized exchange built on the Polygon network. It allows users to swap between different cryptocurrencies, as well as provide liquidity for trading pairs and earn yield through farming and liquidity provision.

Read The Full Story ›
Is QuickSwap available in the US? ›

QuickSwap (QUICK) is available to buy and trade on Coinbase's centralized exchange.

See Details ›
How to farm on QuickSwap? ›

Here's how you can get started:
  1. Go to https://quickswap.exchange/#/farm. ...
  2. Find the farm that matches your LP token pair and click the drop-down menu. ...
  3. Your LP tokens have now been staked and you'll immediately begin earning farming rewards in dQUICK and WMATIC (or whichever reward token the farm provides).
Nov 11, 2023

Get More Info Here ›
What is QuickSwap used for? ›

Using QuickSwap, users can seamlessly exchange any combination of ERC-20 tokens without an order book. As long as there is a liquidity pool for it, users can trade any pair via the DEX. QuickSwap is powered by the QuickSwap token (QUICK) and the Dragon's Quick token (dQUICK), the platform's interest-bearing token.

Continue Reading ›
Who owns QuickSwap? ›

Sameep Singhania founded QuickSwap after growing frustrated by the high gas fees on the leading DEXs.

View More ›
How do you provide liquidity for a token? ›

How to setup a liquidity pool for your token
  1. Choosing your environment: blockchain ecosystem and AMM protocol.
  2. Setting a price for your token.
  3. Assessing the amount of liquidity you'll need to provide smooth trading.
  4. Incentivizing LPs.

View Details ›
How do you make money providing liquidity? ›

Providing liquidity for an Automated Market Maker (AMM) can be a great way to earn passive income. By depositing assets into an AMM pool, you'll earn a percentage of the trading fees generated. This tutorial shows how to deposit assets, vote on fees, and withdraw assets.

See More ›
How do you provide liquidity in pancake swap? ›

To provide liquidity, you'll need to commit an amount of any token pair you like. Your lowest value (in USD) of the two tokens will be the limit to the liquidity you can provide. You can easily trade for any tokens you need. Visit our How to Trade on PancakeSwap guide if you need to.

Learn More ›
How do you add liquidity to the market? ›

What is Adding Liquidity? When you supply the shares to sell on the ask, you are providing the liquidity for other buyers. When you are willing to buy on the bid, then you are providing the liquidity for other sellers. In a nutshell, you add liquidity when buying on the bid and selling on the ask.

Discover More Details ›
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