{"id":193748,"date":"2021-03-04T06:58:28","date_gmt":"2021-03-04T03:58:28","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/polygon-based-quickswaps-tvl-grows-by-75m-in-two-weeks\/"},"modified":"2021-03-04T06:58:28","modified_gmt":"2021-03-04T03:58:28","slug":"polygon-based-quickswaps-tvl-grows-by-75m-in-two-weeks","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/polygon-based-quickswaps-tvl-grows-by-75m-in-two-weeks\/","title":{"rendered":"#Polygon-based QuickSwap's TVL grows by $75M in two weeks"},"content":{"rendered":"

“#Polygon-based QuickSwap's TVL grows by $75M in two weeks<\/strong>”<\/p>\n

<\/p>\n

                QuickSwap is quickly become the go-to DEX for trading Ethereum tokens off-chain, with its liquidity quadrupling since late February.\n                <p>Polygon-based DEX QuickSwap has<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/info.quickswap.exchange\/home\"> <\/a>attracted more than <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/info.quickswap.exchange\/home\">$105 million<\/a> in worth of liquidity since the start of 2021.\n<\/code><\/pre>\n
The Uniswap clone began the year with only $300,000 worth of assets locked in its protocol, with more than three quarters of the exchange\u2019s total value locked being added in the past fortnight.<\/p>\n
QuickSwap is currently the leading second-layer decentralized exchange by daily volume with $38.5 million worth of trades over the past 24 hours. The second-largest L2 DEX by volume is Loopring with $8.4 million, followed by ZKSwap with $2.5 million.<\/p>\n
\n
L2 DEX trading volume in the last 24hrs: <\/p>\n
 1 @QuickswapDEX<\/a> $38,503,800 (>30% own token\u2757) 
 2 @loopringorg<\/a> $8,429,098 
 3 @ZKSwapOfficial<\/a> $2,530,652 (>50% own token\u2757) 
 4 @Leverj_io<\/a> $1,339,688 
 5 @nashsocial<\/a> $913,475 
 6 @deversifi<\/a> $805,710 
 Powered by @coingecko<\/a> API<\/p>\n
— L2_Dex_Wars (@L2Wars) March 2, 2021<\/a><\/p><\/blockquote>\n
QuickSwap\u2019s governance token, QUICK, surged from under $1 per token to $557 in three months, and currently represents nearly 20% of the protocol’s total liquidity. Other popular tokens on the exchange include Wrapp<\/a>ed Ether, USD Coin, maUSDC, and Wrapped Matic.<\/p>\n
Speaking to Cointelegraph, QuickSwap founder Nick Mudge attributed the exchange\u2019s recent success to the user\u2019s that Aavegotchi brought to Polygon after launching its NFT staking game<\/a> on Jan. 21. <\/p>\n
With more than 80 tokens driving more than $23 million in daily trade volume, Mudge believes QuickSwap is a cornerstone of Polygon\u2019s nascent DeFi ecosystem, predicting the two will grow symbiotically:<\/p>\n
\u201cQuickSwap is the center of the Polygon DeFi ecosystem and will grow as the ecosystem grows. QuickSwap and its liquidity mining incentives were a solution to move the users to Polygon and give them a Uniswap experience with very low gas fees.\u201d<\/p><\/blockquote>\n
Polygon, a scaling solution allowing projects to create Ethereum-compatible blockchains, has benefited from the crippling gas fees that have recently made many Ethereum-powered DeFi protocols too expensive for casual users.<\/p>\n
MATIC, the native crypto of Polygon, has posted meteoric gains this year, rising 1,135% from $0.0182 to $0.2249 over 2021 so far.<\/p>\n