- Polygon-based QuickSwap expands to Ethereum.
- Ethereum users benefit from gasless transactions.
- Decentralized exchanges like QuickSwap continually innovate.
The decentralized finance (DeFi) sector has seen a surge in innovations designed to reduce costs and improve user experiences. QuickSwap, which gained attention for its efforts on the Polygon network, is now preparing to expand to Ethereum.
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Its latest project, QuickPerps Falkor, introduces gasless perpetual trading to Ethereum Layer 1โa network often criticized for high transaction fees.
QuickSwap Launch Attracts Attention from Justin Sun
QuickSwapโs upcoming Ethereum launch of QuickPerps Falkor, a gasless decentralized perpetual exchange, is attracting significant attention. Tron Founder Justin Sun, known for his cryptic tweets, shouted out the exchange in a post.
Sun wrote โHow Quick can you Swap?โ before tagging the QuickSwap Twitter page. This has led to speculation about a potential collaboration, including a launch of TRX on the new platform. While the potential partnership details are still secret, QuickSwap has revealed details about its upcoming perpetual gasless exchange.
QuickSwap Launches QuickPerps Falkor for Gasless Trading
While Ethereum still holds a dominant position among smart contract networks, it has challenges. Its main issue is its high gas fees, which make trading on the network less efficient than on other chains. This is what QuickSwap plans to address with its QuickPerps Falkor platform.
This new perpetual exchange will enable users to open positions without paying for gas fees. This is possible because QuickSwap collaborates with the Orderly Network, which provides the infrastructure for gas-free transactions. Traders on QuickPerps Falkor can access up to 50x leverage, further boosting user experience.
QuickSwapโs Token Burn Initiative
QuickSwapโs upcoming Ethereum expansion with QuickPerps Falkor is not the only significant move for the DeFi platform. QuickSwap has also proposed a comprehensive revamp of its tokenomics through a QUICK token burn initiative.
The token burn mechanism is part of QuickSwapโs effort to overhaul its tokenomics and strengthen its token. By reducing the supply of QUICK, the platform aims to boost the long-term value of the token, benefitting holders.
The decision to initiate the burn proposal was made through the QuickSwap DAO. This Decentralized Autonomous Organization enables users to participate in all major network decisions. By empowering users to make key decisions, QuickSwap hopes to boost engagement further.
On the Flipside
- QuickSwap has also been expanding its presence in the Web3 space through content creation, notably with its popular podcast, “The Aggregated.”
- User experience is one of the main barriers to greater DeFi adoption. QuickSwap and other innovative DeFi platforms focus on this.
Why This Matters
QuickSwapโs expansion to Ethereum showcases the ongoing evolution within the DeFi ecosystem. It demonstrates that DeFi has the potential to challenge centralized platforms.
Read more about QuickSwapโs latest product:ย
How QuickSwapโs Falkor Revolutionizes Perps Trading on Polygon
Read more about Polygon’s bid for blockchain interoperability:
Polygon Plans to Unite All Blockchains, CEO Explains How
