Trade perpetual contracts with up to 50x leverage, auto-compounding and fee-sharing
QuickSwapDEX has launched QuickPerps, a fully decentralized perpetual exchange on Polygon’s zkEVM. This new development enables traders to engage in perpetual trading with leverage of up to 50x. Additionally, QuickPerps introduces a multi-asset liquidity pool with QLP tokens, allowing users to participate in leverage trading and profit from the performance of the assets.
Content
- What is QuickPerps?
- Exciting Features of QuickPerps
- Why Polygon’s zkEVM?
- QLP, the LP token of QuickPerps
- QuickPerps witnesses rapid growth in liquidity and user adoption
- Useful links
QuickSwap has recently launched QuickPerps, an innovative perpetual exchange designed to empower traders with leveraged derivative trading capabilities. According to DappRadar, QuickSwap currently boasts $124.59 million in total value locked (TVL), making it the second-largest DeFi platform in the Polygon ecosystem.
With QuickPerps now live on Polygon’s zkEVM, it is expected to elevate the QuickSwap ecosystem further. As a result, it will keep bolstering the already impressive TVL, trading volume, and overall composability of Polygon’s DeFi landscape.
What is QuickPerps?
QuickPerps is a fully decentralized perpetual exchange that enables traders to engage in leveraged trading using perpetual crypto contracts.
Unlike traditional futures contracts, perpetual contracts have no expiration date and can be held indefinitely. However, decentralized perpetual exchanges like QuickPerps are taking this to the next level. Instead of relying on an exchange as the counterparty, QuickPerps adopts a liquidity-pool-driven model and reward liquidity providers with LP tokens.
Notably, this approach empowers traders to make informed decisions and choose their preferred participation, as they can explore different pools and evaluate their performance. The freedom of choice promotes fair competition and innovation.
Exciting Features of QuickPerps
QuickPerps stands out in the decentralized perpetual exchange landscape with its diverse range of features. It minimizes price impact, enables auto-compounding rewards, and integrates with TradingView Pro for advanced charting and analysis tools. Additionally, it utilizes reliable price data and oracles, ensuring accurate and trustworthy information for traders.
With these comprehensive features, QuickPerps allows traders to navigate the market effectively and optimize their trading strategies. It is also worth mentioning that more experienced traders can take advantage of up to 50x leverage, potentially amplifying their profits.
Why Polygon’s zkEVM?
QuickPerps utilizes Polygon’s zkEVM to enable trustless and permissionless perpetual trading. The integration with zkEVM has several advantages. These include support for custom smart contracts, advanced tokenomics, Ethereum-level security, and low gas fees with minimal friction per transaction.
By leveraging zkEVM, traders on QuickPerps can enjoy a seamless and efficient trading experience.
QLP, the LP token of QuickPerps
QLP tokens and the associated liquidity provision model on QuickPerps create a mutually beneficial relationship between leverage traders and liquidity providers. Now, let’s expand on this topic to gain a deeper insight.
As leverage traders experience gains or losses, QLP holders participate in the outcome. When leverage traders generate profits, liquidity providers stand to make a profit as well. Conversely, if leverage traders face losses, liquidity providers may experience a corresponding decrease in their returns.
To help users monitor their performance and track the platform’s statistics, QuickPerps provides access to Past Profit and Loss (PnL) data and other relevant analytics on the Analytics Page.
QuickPerps witnesses rapid growth in liquidity and user adoption
In just a few days since its launch, QuickPerps has experienced a remarkable surge in liquidity within its QLP pool. The total value locked (TVL) in the pool has soared to approximately $4.5 million, indicating a significant influx of capital and increased opportunities for users on the platform.
This positive trend is evident from both DappRadar’s dapp tracking and the QuickPerps Analytical page, which depict the increasing number of users engaging with the platform.
DappRadar’s data highlights the impressive rise of QuickSwap’s user activity, with its UAW (Unique Active Wallets) surpassing 20,930, a remarkable increase of 17.23%. Furthermore, QuickPerps’ analytical page reveals a substantial increase in new users flocking to the platform.
QuickPerps’ rapid liquidity growth is further boosted by its enticing incentives, which are designed specifically for liquidity providers. For example, these users can enjoy additional benefits such as weekly airdrops of the native token QUICK and the opportunity to claim ETH rewards every Friday. These incentives underscore the platform’s dedication to fostering an active and engaged community of participants.
With its user-friendly interface, enticing rewards, and commitment to creating a seamless trading experience, QuickPerps is poised to fuel the innovation of the decentralized derivatives market. Moreover, it empowers traders with new opportunities for profitable and secure trading.
Useful links
Disclaimer — This is a sponsored article. DappRadar does not endorse any content or product on this page. DappRadar aims to provide accurate information, but readers should always do their own research before taking action. Articles by DappRadar can not be considered as investment advice.
