Ethereum-based permissionless decentralized exchange (DEX) QuickSwap has drawn over $106 million worth of liquidity since February.
Related: Stablecoin trading volume exceeded $360 billion in February
🚨 GO TIME, meme team! We are at $106,000,000 pool liquidity on $quick. $500 giveaway ends this Friday!!!
— QuickSwap (@QuickswapDEX) March 3, 2021
Quote tweet your meme below and use the hashtag #QUICK100M so we can track the best meme. Share with friends as well. #matic @0xPolygon https://t.co/B18KDYfQXs
It's worth mentioning that at the beginning of the year the protocol held only $300,000 worth of assets locked. In the last two weeks, QuickSwap made huge progress.
QUICK, the protocol's native token has grown from $1 to $557 in three months. Now it trades at around $486.95% of the entire supply of QuickSwap's native governance token, QUICK, is distributed via liquidity mining on the network.
The token can be utilized within the QuickSwap platform for staking and yield farming purposes.
QuickSwap was launched in February 2021. It is a UniSwap's fork running on the Polygon blockchain. The platform uses Layer 2 for transactions allowing customers to purchase ERC20 tokens with low gas costs and high speeds. The protocol is powered by Matic Network’s Layer 2 scalability workframe.