Polygon-based exchange sees volume increase as well
QuickSwap users are growing exponentially with the total number of unique active wallets interacting with the smart contracts rising to more than 60,000.
While Uniswap remains the top used exchange overall, QuickSwap is the clear winner when it comes to Polygon-based projects. Not only that, QuickSwap is actively competing with Uniswap in the global rankings. It’s interesting to note that Uniswap’s unique user wallets decreased by more than 12% over the past week.
QuickSwap users and overall performance
DappRadar data indicates that QuickSwap performs well across all key metrics, not only in terms of increased active users. The Polygon-based exchange registered more than $790 million in volume in the past week. Consequently, transaction activity has grown as well, up by more than 21% in the past seven days.
Over the past couple of weeks, QuickSwap has been performing steadily, with rather constant levels of increased activity. In the past thirty days, the exchange has attracted more than 100,000 unique wallet addresses, while the number of transactions has grown by more than seventy percent to more than 2,65 million transactions.
Fast transaction processing and lower fees
One of the biggest advantages QuickSwap has is the ecosystem offered by the Polygon blockchain. As a Polygon dapp, the exchange can offer remarkably fast transaction processing. As an alternative to Ethereum, Polygon allows users to transact at speeds of under two seconds. Thanks to partial off-chain processing, QuickSwap offers considerably faster processing than Ethereum-based competitors.
Additionally, Polygon-based exchanges have notoriously low gas fees, regardless of the amount of tokens being swapped. While gas fees on the Ethereum mainnet are also dropping recently, Polygon offers constantly low gas rates.
QuickSwap is steadily holding onto its number one spot among Polygon-based exchanges. As one of the first Polygon DeFi solutions, the exchange has already made a name for itself. Following the trend noticed in the DappRadar data, the popular QuickSwap platform will remain a driving force in the Polygon DeFi ecosystem.