QuickSwap is functionally the same as other DEXs, with a few additional features that make the platform more lucrative yield farming Platform. Not only can users swap cryptos and provide liquidity pools, QuickSwap also offers built-in liquidity pool token (LP) staking. LP token staking allows liquidity providers to generate additional rewards on top of trading fees by further tying their liquidity into the protocol.
QuickSwap DeFi app
Since QuickSwap is a DeFi platform, you need a Web3 enabled browser with a browser extension crypto wallet . You also need to keep assets on the polygon network So, to use QuickSwap, if your assets are on Ethereum or another blockchain network, you need to bridge them to Polygon. You can do this by clicking “Bridge” on the top right of the QuickSwap app interface. This brings you to cross-network bridge platforms for transferring cryptos across blockchains.
exchange
The default page of the QuickSwap interface is the Swap section of the platform. Here traders can trade between cryptos. The platform charges a 0.3% fee on most crypto swaps, and this does not include gas fees and price impact (including slippage). QuickSwap V2 introduced a limit order feature that allows traders to swap cryptos at their desired price instead of reducing all swaps to market prices.
Swimming pool
Users can provide liquidity to QuickSwap DEX through the “Pool” section. Users can contribute to existing pools or provide their own liquidity pools by depositing an equal dollar amount of two cryptos. Liquidity providers receive LP tokens that represent their share of the liquidity pool and are rewarded with fees generated by the pool’s trading activities – typically 0.25%.
Obtain
What if you don’t have any assets on Polygon and don’t want to bridge your cryptos from another blockchain? Well, QuickSwap’s fiat onramp partners are here for you. QuickSwap’s “Buy” section allows anyone to buy crypto with their credit card and deposit it directly into their Polygon wallet. Buying crypto with fiat through QuickSwap is a great and hassle-free way to get DeFi-enabled cryptos in your wallet without the need for a bridge or a centralized exchange like Crypto.com.
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