QuickSwap’s New Perpetual Exchange on Polygon zkEVM ‘Returns Power to Users’

QuickPerps is fully decentralized and offers up to 50x leverage for margin traders.

Character entering from a portal, on digital Polygon land touching the logo.
Created by Kornelija Poderskytė from DailyCoin
  • QuickPerps has launched on Polygon zkEVM.
  • The new perpetual exchange features options for popular digital assets.
  • Users can use up to high leverage for margin trading, among other benefits.

In a new product offering from the Polygon ecosystem, decentralized exchange QuickSwap has officially launched a fully decentralized perpetual exchange on Polygon zkEVM called QuickPerps.


QuickSwap highlighted that the new perpetual exchange “returns power to users” as they no longer need to use centralized exchanges to access derivative trading.

“With QuickPerps live and running, derivatives traders in web3 no longer have to depend on opaque, centralized derivatives platforms manipulating prices to force liquidations or lending out user capital in fractional reserve models à la FTX.”

What QuickPerps Offers

QuickPerps offers a variety of benefits. The DEX features a starting slate of six assets, namely MATIC, ETH, BTC, and leading stablecoins USDT, USDC, and DAI. The platform also supports leverage of up to 50x for margin traders, whether they are looking to hedge existing positions or swing for the fences.

In addition to providing a standard decentralized leverage trading experience complete with a QLP index token, community-sourced liquidity, cross-usable assets, and a generous fee-sharing model, QuickPerps comes equipped with new features to disrupt the emergent perpetuals sector.

The platform’s auto-compounding function automatically redirects earned rewards right back into the main liquidity pool, increasing users’ positions and optimizing returns. All this without requiring active management, recurring transactions, or running up the gas meter on the part of the trader. 

QuickPerps users also enjoy zero price impact when opening and closing positions, thanks to the protocol’s employment of Pyth Price API and API3 Oracles.


At the time of writing, the QuickPerps platform is live on Polygon zkEVM, though discussions concerning additional deployments on Polygon PoS and Dogechain are reportedly underway. 

In order to enlist proper incentives and compete for market share amongst established perpetual exchanges, QuickPerps will be implementing a subgraph for a Unilevel referral system.

On the Flipside

  • Polygon zkEVM is still a relatively new blockchain and is still heavily centralized.
  • There are only six assets currently available on QuickPerps.

Why This Matters

Giving users access to decentralized derivatives trading can help spur web3 growth, especially on Polygon zkEVM, which is seen as one of the most promising Ethereum Layer-2 scaling solutions.

Read more about Ethereum layer 2 tokens struggling:

Ethereum Layer-2 Tokens Struggle as ARB Hits All-Time Low

Read more about Arbitrum’s venture into web3 gaming:

Arbitrum Taps into Web3 Gaming with Layer-3 Xai Announcement

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Arturas Skur

Arturas Skur is a cryptocurrency news reporter at DailyCoin who covers Web 3.0 domains, DeFi, and Ethereum Layer-2s. With over five years of experience in journalism and public relations, Arturas brings his critical thinking and analytical abilities to deliver insightful news stories. In his free time, he enjoys hiking, playing with his dog, and reading.