Polygon’s Daunting DeFi-QuickSwap

Polygon Labs

August 5, 2021

This series brings the views of top DeFi applications integrated on Polygon. We had time to sit down with the DinoSwap team to learn more.

1. Please tell us more about your project and your team.

QuickSwap is a DEX or decentralized exchange built on Polygon. It’s a fork of UniSwap that we optimized to function with Polygon’s faster throughput and cheaper gas fees. We were the first DEX to launch on Polygon and though things have gotten much more competitive in recent months, QuickSwap remains the largest DEX with the most TVL and daily volume on the network.

We have a great team. It started with two developers Sameep Singhania and Nick Mudge. Shortly after, Roc Zacharias of Lunar Digital Assets joined as an advisory team. We’ve grown a lot since the early days, adding developers, marketers, community managers, business development specialists, and so much more. In addition, we consider our substantial and active community members to all be part of the QuickSwap team since we really couldn’t do it without them.

Interested parties can learn more about our team and beginnings here.

2. Where are we in the hype cycle for DeFi?

Timing the market in the short term can be challenging. Although we aren’t sure what will happen in the market today, tomorrow, or next week, we’re certain that DeFi is here to stay, and this is only just the beginning. More and more people around the world are waking up to the fact that passive income earning is a necessity for life. With global hyperinflation already well underway, few earn enough in hourly income to live as comfortably as they’d like. Therefore, putting people’s money to work for them with options like staking and yield farming is becoming a real necessity. Yet, while people have begun to realize the need for passive income, few have started the deep dive into DeFi, how it works, and how they can make it work for them.

More products and projects launch every day that enable DeFi’s users with options for earning yield. We are just getting started!

3. Who are some thought leaders you follow in the space?

So many amazing influencers and thought leaders are helping to shape the future of decentralized finance, it would be impossible to name them all, but just to list a few:

Those who have been paying attention lately will notice that at QuickSwap, we’re big fans of Mark Cuban. The billionaire investment entrepreneur and entertainment mogul from NBC’s “Shark Tank” have supported QuickSwap from the early days. We value his insights and we hope to work more closely with him in the future.

Of course, we also follow and have a great deal of respect for Hayden Adams — UniSwap’s creator; Dan Finlay — MetaMask’s founder; Sandeep Nailwal — Polygon’s COO; and Vitalik Buterin — Ethereum’s founder; among many others

4. What is one thing that most people don’t know about your project?

One thing that few people know or understand about QuickSwap is that it is a community-focused endeavor. Even the way we distributed tokens was fair, with 96.7% of the total supply being distributed or already distributed to community members. We had no seed round, no private sale, and no ICO. There are no token unlocks that QUICK holders have to account for or worry about. Additionally, we’re the only DEX that has more TVL than market cap, so hopefully, that speaks for itself.

Anyone who wants to learn more about QUICK’s tokenomics can read more here.

5. Why did you choose to build on Polygon?

QuickSwap’s founding team were (and still are) big advocates of the Ethereum ecosystem. We all believe that decentralized finance wouldn’t be where it is today without Ethereum; however, during times of high congestion on the network, Ethereum’s gas fees are untenable for most users. We wanted to continue to support Ethereum’s development while providing a less expensive option for decentralized trading — one of Ethereum’s most common uses. Since Polygon operates as a layer 2 scaling solution for Ethereum rather than a competing network — like EOS or Cardano, it was a natural fit. Additionally, Sameep — QuickSwap’s lead developer — had been working with Polygon (formerly known as Matic) since its inception in 2017, and Roc’s company LDA focuses on providing support for Polygon-based projects.

About Polygon

Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building and connecting Secured Chains like Plasma, Optimistic Rollups, zkRollups, Validium, etc, and Standalone Chains like Polygon POS, designed for flexibility and independence. Polygon’s scaling solutions have seen widespread adoption with 500+ Dapps, ~567M+ txns, and ~6M+ daily txns.

If you’re an Ethereum Developer, you’re already a Polygon developer! Leverage Polygon’s fast and secure txns for your Dapp, get started here.