What Is QuickSwap: A Leading DeFi Dapp on Polygon

what is quickswap

Everything you need to know about the Polygon-based DEX

QuickSwap is at the forefront of the thriving DeFi scene on Polygon. In this article, we will dive deep into QuickSwap, exploring its latest update, most popular features, and more. Learn how to effectively utilize QuickSwap and uncover the exciting DeFi possibilities within its ecosystem. 


What is QuickSwap?

QuickSwap is a decentralized exchange (DEX) launched in February 2021. It quickly gained popularity within the decentralized finance (DeFi) ecosystem. Notably, QuickSwap is a fork of Uniswap, the pioneering DEX, but it differentiates itself by launching on the Polygon network, a scaling solution for Ethereum.

Leveraging Polygon, QuickSwap enjoys faster transaction speeds and lower fees compared to Ethereum. This makes it an attractive option for DeFi users who want to avoid high gas fees. 

Today, QuickSwap plays a crucial role in the Polygon ecosystem by facilitating liquidity for the network. According to DappRadar’s DeFi tracking, it has the second-largest total value locked (TVL) on Polygon, indicating its significance within the network.

Polygon TVL

What are QuickSwap’s latest feature upgrades?

QuickSwap has been adapting to Polygon’s rapid advancement by launching various features:

  • Launching on the Polygon zkEVM to enhance scalability and efficiency.
  • Establishing a gaming hub to cater to the evolving gaming landscape on Polygon.
  • Introducing QuickPerps to offer perpetual trading, increased liquidity, and more sophisticated trading capabilities. 

By expanding its feature set and catering to the growing needs of users, QuickSwap aims to solidify its position as a prominent DEX on Polygon.

How does QuickSwap work?

Similar to Uniswap, QuickSwap embraces the Automated Market Maker (AMM) model, which leverages liquidity pools and mathematical formulas to determine token prices and facilitate trades, eliminating the need for traditional order books.

Building upon the AMM model and liquidity pools, QuickSwap continually evolves to cater to diverse user requirements.

Understanding the difference between QuickSwap V2 and V3

V3 introduces concentrated liquidity, allowing liquidity providers (LPs) to deposit liquidity pairs within custom price ranges. LPs can now earn fees when assets trade within their specified ranges. If the range is breached, LPs have the option to wait or reset.

Compared to V2, QuickSwap V3 enables LPs to provide liquidity with less capital, while maintaining fee-sharing benefits. The transition highlights improved control, capital efficiency, and a more tailored trading experience for LPs.

For regular swap users, the transition to QuickSwap V3 may not significantly change their experience. They can still access the liquidity and perform token swaps on the platform in either version. 

However, the improved capital efficiency and depth provided by LPs in V3 may lead to better liquidity availability and potentially tighter spreads, enhancing the overall trading experience for swap users.

How to use QuickSwap?

QuickSwap provides a comprehensive ecosystem for decentralized finance activities on the Polygon network.

Its feature set includes token swapping, staking, liquidity mining, and derivative trading, among others. These features enable users to engage in seamless token exchanges, participate in earning rewards through staking and liquidity provision, and explore advanced trading opportunities in the realm of derivatives.

Make sure you have a crypto wallet installed

Like any other dapp, accessing QuickSwap requires signing in with a crypto wallet. You have MetaMask, Trust Wallet, Coinbase, ZenGo, and many more to choose from. 

To connect your web3 wallet to QuickSwap, visit the QuickSwap website and click on the “Connect Wallet” button. Once connected, you can start trading and adding assets to liquidity pools on the platform.

Token swap

Token swapping is a process of exchanging one cryptocurrency token for another. It is commonly used in decentralized exchanges like QuickSwap to facilitate the seamless conversion of digital assets.

QuickSwap how to swap token

Here is a summary of the steps involved in token swapping on QuickSwap:

  1. Go to the Swap page on QuickSwap.
  2. Choose the “Best Trade” option to ensure your swap uses the most efficient path among available liquidity pools.
  3. Choose the assets you want to swap and enter the desired amount.
  4. Confirm the transaction by allowing QuickSwap to access your assets from your wallet. Click “Approve” and then “Swap.”
  5. Complete the swap, and a pop-up window will appear, asking you to confirm the swap.
  6. Click “Confirm Swap” and confirm the transaction from your wallet once again.
  7. You will receive a confirmation from QuickSwap, indicating that your transaction has been successfully completed.

Adding liquidity on QuickSwap

Providing liquidity refers to depositing assets into a liquidity pool on QuickSwap. By providing liquidity, users can earn fees from trading activities within the pool.

How to add liquidity on QuickSwap

Steps to provide liquidity on QuickSwap:

  1. Access the Pool page from the top menu to provide liquidity on QuickSwap’s V3.
  2. Choose the V2 or V3 pool for preferred liquidity. 
  3. Select the desired asset pair to provide liquidity.
  4. If there are no existing asset price ratios, manually input the values.
  5. If using V3, set the price range for your concentrated liquidity.
  6. Specify the amount of liquidity to deposit.
  7. Approve both assets from your wallet and confirm the deposit.
  8. Confirm the deposit of the liquidity pair by clicking “Preview” and then “Confirm.”
  9. Confirm the transaction from your wallet.
  10. Receive confirmation from QuickSwap after successfully depositing the liquidity.

QuickSwap V3 has also integrated with Gamma, a protocol for non-custodial, automated, and active liquidity management. With Gamma’s automated strategies, users can optimize their LP and farming yields without manual intervention. 

QuickSwap Gamma pool

Perpetual trading with QuickPerps

QuickPerps is a decentralized perpetual exchange launched by QuickSwap on Polygon’s zkEVM. It allows traders to engage in leveraged perpetual trading with up to 50x leverage. QuickPerps also introduces a multi-asset liquidity pool using QLP tokens, enabling users to participate in leverage trading and benefit from the performance of different assets.

QuickPerps, since its recent launch, has seen a rapid increase in liquidity within its QLP pool, with a total value locked (TVL) of around $4.5 million. This surge in liquidity signifies a substantial influx of capital, providing enhanced opportunities for experienced traders on the platform.


To trade perpetual contracts using QuickPerps, follow these steps:

  1. Visit the Perps page on QuickSwap.
  2. Go to the Trade tab in the menu, and click on Long (or Short) for your positions.
  3. Enter the token and amount you wish to use, adjust the leverage slider, and click Enable Leverage to confirm the transaction.
  4. Click on Long (or Short) for the selected token.
  5. Review the transaction details and confirm it in your wallet.

For a more comprehensive understanding of QuickPerps, please click the button below to access our detailed article.

QuickSwap’s QUICK token

QUICK is QuickSwap’s native token that is the foundation for all platform trading, swapping, and farming functionalities. It is also the easiest way to take advantage of all DeFi tools on QuickSwap.

QUICK has a total supply of 1 million tokens. What is more, 96.75% of this supply goes towards liquidity mining pools on QuickSwap. Currently, QUICK is priced at $48.82. You can easily track price shifts for QUICK on DappRadar.

Quick token dappradar

If you want to start trading and swapping, you can quickly get your hands on some QUICK tokens with the DappRadar Token Swap service.

How to stake QUICK token

Staking Quick token

Staking QUICK is a way to earn passive income without the risks associated with trading and liquidity farming. Here’s a simple guide on how to stake your QUICK:

  1. To stake your QUICK, go to the page called Dragon’s Lair.
  2. Once connected to Dragon’s Lair, you will see your available QUICK tokens.
  3. Click “Stake” and enter the desired amount to stake. You can also click “Max” to stake all the QUICK in your wallet.
  4. Click “Approve” and confirm the transaction in your crypto wallet.
  5. Wait for the transaction to confirm, and you will start earning interest on your staked QUICK.

dQUICK is a token that represents your staked QUICK in the Dragon’s Lair. When you stake QUICK, you receive dQUICK in return. The amount of dQUICK you get depends on the amount of QUICK you stake. Unstaking dQUICK burns the tokens and gives you more QUICK based on the dQUICK rate.

Keep tracking QuickSwap and explore DeFi with DappRadar

Staying updated and informed about the major decentralized finance projects is crucial in the rapidly evolving world of DeFi. Now that you have a good understanding of QuickSwap and its functionality, it’s important to apply this knowledge wisely and make informed decisions, always conducting thorough research.

Here are some useful tools to stay informed and navigate the world of DeFi:

  1. QuickSwap dapp page
  2. QUICK token page
  3. DappRadar DeFi Ranking 
  4. DappRadar’s Ultimate Guide on DeFi
  5. Token Explorer
  6. Portfolio Tracker

DappRadar will continue to monitor top DeFi dapps like QuickSwap very closely. If you want to learn even more about the best projects in the exciting world of dapps, follow our Twitter and subscribe to our industry newsletter below. 

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