QuickSwap Protocol: Fundamental and Technical Aspects

Users can use a liquidity pool to bridge ERC-20 tokens from Ethereum to Polygon and trade any pair via QuickSwap. Transaction fees can be collected from other participants by anyone who supplies a token pair and launches a new liquidity pool. 

QuickSwap aims to address user experience issues related to Ethereum’s high transaction fees and long transaction times by leveraging the low fees and quick confirmation times of Polygon’s Layer 2 technology. QuickSwap is a project on the Polygon network that offers faster and cheaper transactions with the secure, audited code of Uniswap. 

QuickSwap is essentially a fork of Uniswap’s code optimized for Polygon. The team also developed additional features such as Dragon Lair, where QUICK token holders can earn protocol fees by staking their tokens, as well as Limit Order support and Dragon Syrup. 

This is where speakers of dQUICK tokens can earn additional yields from projects traded on QuickSwap. 

QuickSwap uses an automated market maker model (AMM) called Constant Product Market Maker to create liquidity pools of tokens that users can access to swap. Users interact with a smart contract, a unique computer program built on the Ethereum blockchain rather than trading as makers or takers. Smart contracts automatically regulate and manage any token exchanges on QuickSwap. 

Swaps are accessible to all QuickSwap users via a browser plugin without any requirement to register or provide ID details. A liquidity pool is another key component of QuickSwap. 

Liquidity pools are funded by liquidity providers who allow any project participant to contribute the equivalent of two tokens to the pool. The small fee traders pay is divided among liquidity providers based on the proportion of their shares in the liquidity pool. 

Dragon’s Syrup Pools allows users to earn passive income by staking QUICK tokens. These pools offer a finite number of rewards in participating tokens that expire once the limit is depleted. 

QuickSwap enables users to exchange ERC-20 tokens and any Polygon-related tokens, as well as wrapped tokens, for a transaction fee of only 0.3%. Liquidity providers receive the fees collected from these transactions. Unlike other platforms, QuickSwap does not require KYC, so users only need MATIC in their wallets to perform the swap. With its straightforward and user-friendly layout, QuickSwap provides a permissionless means of exchanging tokens.

Technical Analysis and Prediction of QUICK Token 

QuickSwap Protocol: Fundamental and Technical Aspects
QUICK/USD chart by TradingView (Daily time frame)

The QUICK token started going on an uptrend after the QUICK price touched the bottom level of $0.0393. The bullish investors arrived and the token started rallying. Along the way to the present price of $0.0533, the QUICK price broke major resistance levels. The current 50-Day EMA is at $0.05348 while the 150-Day EMA is at $0.04864. The price prediction is bullish as long as the trend is intact.

Conclusion.

QuickSwap allows users to bridge ERC-20 tokens from Ethereum to Polygon and trade any pair with a low transaction fee of 0.3%. No registration or ID details are required. The QUICK price has broken major resistance levels and is currently at $0.0533. The trend is bullish for now.

Technical Levels

  • Support Levels: $0.048 and $0.039
  • Resistance Levels: $0.064 and $0.078
Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading in stocks, cryptos or related indexes comes with a risk of financial loss.

Source: https://www.thecoinrepublic.com/2024/01/14/quickswap-protocol-fundamental-and-technical-aspects/