Quickswap [OLD]Price

(QUICK)

QuickSwap is a decentralized exchange (DEX) operating as an Automated Market Maker (AMM) on the Polygon network. It enables users to trade various Ethereum-based tokens by providing liquidity to pools. The platform facilitates swaps by using these liquidity pools, where users deposit token pairs, and liquidity providers earn a percentage of transaction fees. This mechanism helps QuickSwap address Ethereum's scalability challenges by offering faster, lower-fee transactions on Polygon.

QuickSwap underwent a re-denomination, resulting in Old QUICK and New QUICK tokens. The community approved a 1:1000 token split in March 2022. This split was implemented to revitalize the token's utility and introduce new incentives for participants. While Old QUICK's primary function is conversion, New QUICK offers enhanced utility, making it the primary token for the project's future.

The existing Old QUICK token generally does not retain the same active utility as New QUICK. Its primary and most significant utility is the ability to be converted into New QUICK via QuickSwap's dedicated converter. It's crucial for holders to understand that while conversion from Old to New QUICK is straightforward, you cannot directly "convert back" Old QUICK from New QUICK; instead, you would "swap" New QUICK on the market if desired.

New QUICK token holders gain significant utility within the QuickSwap ecosystem. Primarily, they can actively participate in the project's governance through decentralized community voting, influencing key decisions and future developments. Additionally, New QUICK holders can stake their tokens in the "Dragon's Lair" feature, which allows them to earn rewards, providing an incentive for long-term holding and engagement with the platform.

Users can acquire QuickSwap (QUICK) tokens by exchanging Ethereum or other ERC20 tokens on QuickSwap's own swap page. Additionally, QUICK tokens are available for purchase on various reputable exchanges. Regarding the listing of New QUICK, the transition and integration onto platforms like LBank and other major exchanges is a process that typically takes time as these platforms adapt to the token's re-denomination and new contract.

A primary risk for individuals providing liquidity on QuickSwap is impermanent loss, which occurs when the price ratio of deposited tokens changes after the deposit. Regarding security, QuickSwap operates using smart contracts, and while its contracts and team generally have high security ratings, the testing aspect is rated lower. As with any Web3 project, users should exercise due diligence regarding smart contract interactions and platform security.