Proposal: Whitelist QuickSwap (QUICK) with 200K Co-Investment (Attempt #2)

DAO Archive (SUBMITTED)
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This proposal is expected to appear on Snapshot for voting on Monday May 31st, 2021.

Whitelist QuickSwap (QUICK)

  • Co-Investment of 200,000 BNT.
  • There are no apparent security concerns that would prohibit whitelist status.
  • Quick Pool is incredibly lucrative and synergizes really well with MATIC, our best performing pool.
  • QuickSwap is the largest DEX on Polygon by users, volume, and TVL.

Contract Address : 0x6c28aef8977c9b773996d0e8376d2ee379446f2f

Project Website: https://quickswap.exchange/

Token Security

QUICK does not have an elastic supply, or rebase mechanism. The QuickSwap ERC-20 contracts do not have permissions that grant administrators unrestricted mint/burn capabilities. QUICK is a capped-supply token with a total supply of 1 million tokens and circulating supply of ~200,000 QUICK. The remainder is being distributed through liquidity mining over the next 3.5 years. Only around 50,000 QUICK was set aside for the team with the rest being airdropped to UNI holders or earned through liquidity mining.

Project

QuickSwap is a permissionless decentralized exchange (DEX) based on Ethereum, powered by Matic Network’s Layer 2 scalability infrastructure. By utilizing Layer 2 for transactions, QuickSwap users will be able to trade any ERC20 asset at lightning-fast speeds with near-zero gas costs.

Abstract

Bancor has managed to captivate the Polygon/Matic Community, growing their pool to huge depth and great APRs. Having such strong support from MATIC not just in terms of LPs but Volume, it would make sense for us to next Whitelist QUICK, a strongly correlated project.

QuickSwap has recently proven to be one of the best pools on Uniswap. With a regular 1:10 Liquidity to Volume Ratio in the last 2 weeks. In addition to this as we can see below recent LPs have seen their gains devoured by IL. It seems to me it is an opportune time to jump in and try to become the deepest pool on the Ethereum Chain. A 200,000 BNT Co-Investment would allow us to over-take the Uniswap pool by a decent margin.

Community and Communication

Twitter : https://twitter.com/QuickswapDEX

Telegram : Telegram: Contact @QuickSwapDEX

Medium : https://quickswap-layer2.medium.com/ 1

Github : QuickSwap · GitHub

Audits

QuickSwap itself does not have a direct audit but this is not an issue since it is an identical fork of UniSwap V2. The team has stated “QuickSwap is a fork of UniSwap, without a single line of code being changed” This makes the Uni Audit Valid for Quickswap. Uniswap V2 Audit Report

2 Likes
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I support QUICK as I wrote the last whitelisting proposal. I will append that information here.

2 Likes
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Given that the vote to lower Whitelisting quorum is going to happen soon (most likely by 5/31), I think it makes sense to hold off on to this proposal until after that vote concludes. If it passes in favor, then this will make it easier for whitelisting proposals that have support from the community to go through (including this one).

1 Like
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In light of recent events and with community engagements at an all time high, I think it makes sense to bring this forward.

3 Likes
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Thank you for starting whitelisting vote.

3 Likes
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I support this proposal!

What I like the most is the 1:10 Liquidity to Volume Ratio that you showed in your proposal.

Also, the Matic pool is paying us well in fees and the community is super engaged.

Voting “FOR”

3 Likes
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I’m in favor! QUICK is my AMM of choice on POLYGON (until there is Bancor)