Information paradise to understand QuickSwap better
With cryptocurrencies dominating most of the financial decisions nowadays, it is hard to not focus on the fact that we get to check and explore more than a hundred crypto varieties. And then there are different blockchain networks that have a different basis for token compatibility.
In times like these, it is no surprise that digital currencies are limited for now, which makes the demand more than its supply. Therefore, liquidity pools were ideated, designed, and launched into the blockchain networks.
Here, in this read, we’ll be talking about one such exchange that is exclusively renowned for offering high-end services for liquidity pools and grants permission to all the platform users to swap crypto tokens that are compatible.
This platform functions on the Polygon blockchain and has employed a Smart Contract-based system along with the Automated Market Maker Model that defines its’ identity. We have made quite the suspense, right? Well, the exchange we’ll be discussing further is known as QuickSwap.
Going through the details below, we’ll be taking you through small information sections defining the exchange platform, the way it operates, the list of tokens available on the platform, and the explicit steps to use it.
Wondering, what is QuickSwap exchange and how to use?
Well, we already mentioned the major reason behind the crypto exchange platform that offers liquidity pools to make crypto swaps. Now, let’s talk you up to using the QuickSwap exchange platform so that you get a refined crypto experience.
It is built on the very exclusive Polygon blockchain platform and allows users to have a decentralized exchange experience. Users do not have to place any purchase orders- they simply get on the available liquidity pool and make desired trade transactions.
It is compatible with all the ERC-20 tokens so all users on the platform are allowed to bridge tokens from the Ethereum network to the Polygon network. It offers a unique level of security and trust and has, very often, been said to be “almost identical” to UniSwap (which is another platform for swapping crypto out of liquidity pools).
All you have to do is get on the official QuickSwap platform website, connect a wallet that is compatible with the service (preferably the Trust Wallet or the MetaMask Wallet), and then head for the “Swap” option to keep up with the ongoing screen prompts.
Find answers to how does the QuickSwap crypto exchange work
Users on this platform do not make trade transactions as makers or takers but focus their energy on interacting with the smart contract network. Any interested individual can move on to add to the liquidity pools by depositing any compatible and available coin in return for the same value.
This is when the providers begin to receive the exclusive LP tokens as receipts of their share for contributing to the pool. The LP tokens can then be burnt for reward reclamation. These rewards are quite generous- the AMM Model states providers with 0.3% fees depending on the proportion of the liquidity contributed.
Another great fact about the QuickSwap platform is that it does not let any order book determine the prices of the available tokens on the platform. In fact, it employs a concentrated formula, which is known as the Constant Product Market Maker.
There are tons of little and precise details that make this platform your best choice. But we would really ask you to visit its website and try to learn about every little detail. Along with that, we would recommend you to collect information from people who have used the service before.
Steps involved in using the QuickSwap Exchange
First of all, it is important to know that QuickSwap can be accessed very easily with the help of an Internet browser either on your desktop or on your mobile phone. All you have to do is visit the official brand website and follow the steps laid out below:
Initiate by getting into the official https://quickswap.exchange/ website.
Connect any compatible wallet (MetaMask and Trust Wallet are highly recommended).
Ensure getting into the “Swap” option link to begin your exchange transactions.
Go on to make the token choices for initiating the token exchange or token swap.
Hit on the “Swap” key to submit your selection, get a pop-up window preview.
Go on to confirm the exchange or swap transaction request on the linked wallet.
Get to know the exclusive QuickSwap token list
Let us walk you through the exclusive list of all the virtual currency tokens that are compatible on the exchange platform so that it can further go on to improve your experience with QuickSwap:
WOO Network Token
Vulcan Forged PYR Token
Unilend Finance Token
Matic Network Token
Mantra DAO Token
DSLA Protocol Token
Decentral Games Token
ClinTex CTi Token
Chain Guardians Token
BTU Protocol Token
The detailed read above has been carefully crafted to help you with specific details that you should know about the QuickSwap exchange. It operates on the Polygon blockchain network and provides one of the most exclusive liquidity pools for the tokens that are compatible with the network.
It is an automated market maker that employs the use of a smart contract-based system, which directly affects the overall experience of all the users on the platform. There are ways to collect payment for contributing to the liquidity pool as and when transactions are put through for them.
Reading through the above data piece, you learned about the exchange at length, you learned how the service platform works, and that has been followed by an extensive list of all the available crypto tokens and the steps to use the platform’s services.