QuickSwap DEX Releases Fully Decentralized Perpetual Exchange QuickPerps

QuickPerps features a starting slate of six assets, including $MATIC, $ETH, $BTC, and leading stablecoins $USDT, $USDC, and $DAI. The platform also supports up to 50x leverage 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 back into the main liquidity pool, increasing users’ positions and optimizing returns without requiring active management and recurring transactions, or running up the gas meter. 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.

Most importantly, by contributing to web3’s rising group of decentralized perpetual exchanges, QuickSwap is returning power to users. 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.

At present, 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. For latest development and governance discussions, users are encouraged to follow QuickSwap’s Medium page.

QuickSwap’s History and Present Value:

Bringing QuickPerps to market following an April 27 governance discussion, QuickSwap is establishing itself as a go-to DeFi product suite and leading voice in the Polygon ecosystem. Previously renowned for lightning-fast transactions and ultra-cheap swaps on its DEX, QuickSwap’s QuickPerps launch comes on the heels of a series of other recents developments, including the launch of an on-site gaming hub in partnership with VersaGames.

The project has also launched a popular weekly Twitter Spaces called "All Road Lead to Polygon", which features leading names and projects from web3’s most robust layer 2 ecosystem, and attracts up to seventy-five thousand listeners per episode. In addition to setting up the QuickSwap community for continued growth and success, the launch of QuickPerps reaffirms Polygon as the premier ecosystem for cutting-edge DeFi legos.