QuickSwap Research Hub | QUICK information, history and analysis
Quickswap is an offshoot of UniSwap, the leading DeFi exchange in the crypto world. Quickswap is an AMM (automatic market maker) exchange similar to Uniswap. According to the operating mechanism of AMM, Quickswap does not match trading orders according to the order book but through liquidity pools.
As the name implies, QuickSwap focuses on fast transaction speeds. Furthermore, QuickSwap is set up to be easy to understand and use for those who are used to UniSwap. In addition, because it is built on Polygon, QuickSwap also has the advantage that the transaction fee is almost zero. Users only need to pay a small part of the fee to the liquidity providers.
QUICK is a token that works in QuickSwap with several uses, such as:
- Governance: QUICK token holders can participate in the platform’s governance through voting.
- Payout: QUICK is used as a reward for users who provide liquidity to Quickswap.
On August 21, QuickSwap officially integrated Team Finance’s Liquidity Locker on Polygon PoS, marking a huge step forward in the collaboration between both projects and a far safer environment for LPs on the DEX.
The positive news has sparked a strong rally for QUICK. Over the past 24 hours, QUICK has surged 25.77%, with trading volume hitting $18.27 million.
QUICK jumps as much as 38.9% on news of token conversion
As a result of the token conversion news, QUICK has surged by 39.892% in the last 24 hours.
QUICK reached a peak of 1,925,617 VNDC from a price range of 950,000 VNDC – 1,400,000 VNDC. This is the highest price in 3 months.
QuickSwap hit with $220,000 flash loan attack
On October 25th, hackers attacked decentralized exchange (DEX) QuickSwap, a fork of the originator of Automated Market Makers in the DeFi sector Uniswap, making away with $220,000 in a flash loan exploit.
The DEX said it had closed QuickSwap Lend, its lending protocol, following the exploit. It added that the only platform hit by an exploit was its Market XYZ lending market. Users also didn’t lose any funds, according to the DEX.