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QuickSwap and QuickPerps: The Next-Generation Financial Platforms Returning Power to the People

sophia cookBy sophia cookJuly 3, 2023Updated:July 7, 2023No Comments3 Mins Read
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Since Bitcoin’s inception in the wake of the 2008-09 Financial Crisis, blockchain technology and digital assets have spawned an independent, digital-native financial landscape that has challenged industry norms in legacy finance and commercial banking. In 2023, the digital asset space’s web3 ethos has set off a new wave of empowered investors taking their finances and futures into their own hands.

QuickSwap: A Digital Asset Exchange for the People, by the People

QuickSwap is one of the digital asset space’s leading decentralized exchanges (DEX) that enables individuals from all over the world to trade their favorite tokens in a flash. The project has been growing steadily since its 2020 launch, and has been playing a major role in contributing to the growth of Polygon, the Layer 2 ecosystem where it lives and operates.

QuickSwap was developed on Polygon to provide lightning-fast transactions and near-zero fees to users of all income levels and wealth demographics. In just the same way remittance markets and other cross-border transaction scenarios have been burning the common man and woman for decades, transaction fees on Ethereum reached a fever pitch in 2020, often costing users upwards of one hundred U.S. dollars for a single transaction. On Polygon, QuickSwap has leveled the playing field once again for individuals exploring and transacting in web3.

Better yet, QuickSwap’s native token, $QUICK, serves as a governance token whereby community members may vote on proposals issued by the project’s development team. As a decentralized, community-governed project, QuickSwap is trailblazing a new economic paradigm whose financial platforms are owned and guided by their users – not inaccessible, unelected billionaires.

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QuickPerps: A Perpetual Exchange Changing the Lending Game

QuickPerps is a Perpetual Exchange that specializes in a unique derivatives product that has taken the web3 space by storm. Perpetual contracts – or “perps,” as they are often referred to by web3 natives – allow investors to take leveraged bets on the price movements of their favorite digital assets using capital sourced from their peers.

With QuickPerps, users that have a strong knack for predicting the market can kiss the days of begging the bank for a loan goodbye. Additionally, sophisticated investors that want to deploy hedges to protect existing positions no longer need to sign up for centralized brokerages in traditional finance and pay exorbitant management fees.

With QuickPerps, trading is as simple as it is cheap. No one is ever more than a few clicks away from borrowing capital from a distributed community of liquidity providers – or “LPs,” as they like to call themselves.

A New Financial Paradigm Where Principles Come First

Numbers and financial jargon aside, what is perhaps most thought-provoking and inspiring about QuickPerps is that it is a product of QuickSwap – or more accurately, a product of the QuickSwap community. Via the $QUICK governance token, QuickPerps was voted into existence by a decentralized community of prospective users.

QuickPerps is, in the most literal sense, a platform for the QuickSwap community, by the QuickSwap community, and of the QuickSwap community.

The next generation of financial platforms is continuing to pick up traction and momentum. The momentum comes not only from competitive APYs, around-the-clock access, and near-zero fees, but from a newfound ethos of self-ownership and community participation that incumbent financial institutions have failed to provide to a motivated population seeking empowerful and independence.

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Web3’s next steps are yet to be seen, but you can be sure that QuickSwap, QuickPerps, and their ever-growing communities will be at the forefront, leading the charge.

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