0xRafi Profile picture
21 Feb, 16 tweets, 5 min read
1/ $QUICK @QuickswapDEX. ETH L2 projects are in vogue, so it’s a good time to speak about Quickswap, a Uniswap competitor built on Matic's L2 infrastructure. $QUICK, sitting at ~25M Mcap, is seeing impressive increases in trading volume and liquidity, and for good reason... Image
2/ To get straight to the point, on Quickswap you have the same AMM Dex experience as on Uniswap or Sushiswap, BUT with 1 second confirmation times, transaction fees that cost a fraction of a cent, and without sacrificing decentralization as you would when using a BSC Dex.
3/ While Quickswap is not the only Uniswap competitor, what is notable here is that Quickswap is starting to see real use, with volume and liquidity increasing fast.
- On Jan 30th Quickswap had $4.9M liquidity with $2.5M trading vol.
- On Feb 17th , after $QUICK got listed on @coingecko and Uniswap, the exchange reached $10.0M liquidity for the first time, with $7M vol.
- Today it is at $19.7M liquidity and $9.5M vol, and rising!
5/ The process of bridging an existing ETH mainnet token to the Matic sidechain is very simple, costs less than half of a Uniswap trade in gas fees (about 70k gwei) and is a one-off process after which you can do as many trades as you want, for basically zero network fees.
6/ As with Uniswap or Sushiswap, on QuickSwap anyone can create new liquidity pools, provide liquidity to existing pools, or trade any ERC-20 token existing on the Matic L2, and liquidity providers will earn a share of the platform fees (0.3% on every trade).
7/ On top of the trading fees, liquidity providers also earn a share of the distribution of the $QUICK governance token, plus any other liquidity mining incentives that other projects may offer in order to bring liquidity to their tokens.
8/ So as we saw happening with SushiSwap last year, we could potentially see liquidity continue to move to Quickswap thanks to the liquidity mining rewards and low fees, but staying there long term for the improved user experience and low transaction fees.
9/ The max supply of $QUICK is 1M tokens, and 96.75% of supply will be distributed to the community:
-90% to liquidity providers on the platform and governance treasury (released over 4 years)
-5% to liq providers for $UNI on QuickSwap
-1% to $MATIC stakers
-1.75% for marketing Image
10/ The team’s allocation is 3.25% of supply, vested over 546 days. So this is clearly a fair launch, with no token sale, a small allocation for the team with vesting, and 96.75% of supply going to the community and in particular to liquidity providers on the platform.
11/ $QUICK is the governance token for the platform and holders will be able to submit proposals for changes to the protocol, incl. which pools are eligible for $QUICK mining or the allocation of the project’s governance treasury.
12/ Circulating supply is c. 140k, which at current $192 price would put circulating mkt cap at $26.8M. While this corresponds to only 14% of supply, note that the bulk of the supply will be released over a 4yr period, so no risk of sudden increases in supply.
13/ Speaking of trading and prices, note that most of the liquidity for $QUICK is currently on QuickSwap itself (over $5.4M liq) while Uniswap liquidity for the mainnet version of the token is at around $500k.
14/ The team is led by Nick Mudge who, among many contributions to the Ethereum ecosystem, participated in the development the ERC721 NFT token standard, and as an extra stamp of credibility QuickSwap received a grant from the Matic foundation
15/ This is a first look at $QUICK, but i'm sure you'll agree that this is project with a lot of potential.
I'll share more technical details about the project over the coming days.
- Project Introduction: medium.com/@quickswap.lay…
- Guide for transferring tokens between ETHmainnet and Matic L2: medium.com/@quickswap.lay…
- Quickswap analytics: info.quickswap.exchange/home
- Dextools (for Uniswap info): dextools.io/app/uniswap/pa…

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More from @0xRafi

22 Feb
1/ $BONDLY bouncing back nicely after the dip

>Great marketing and mainstream exposure - 1st #NFT album in history!

>This coming Saturday is another @LoganPaul event which will increase exposure further

>Some @nansen_ai analytics below to get you feeling even more confident...
2/ Here are the # of individual addresses holding $BONDLY. Look at this beauty... Image
3/ Now a spot of $BONDLY whale watching...excluding project reserves, team wallets, staking pools etc)..

25 out of the 30 top $BONDLY balances have either been buying (13) or hodling (12) over the past 7 days... Image
Read 4 tweets
20 Feb
1/ xDai STAKE, $STAKE, xdaichain.com. Given how crazy ETH fees have been recently it’s a good time to talk about what’s probably the most used L2 scaling solution for Ethereum right now with only a 150M Mcap, xDai $STAKE Image
2/ The xDai chain is an Ethereum sidechain where ETH smart contracts can be written and deployed in the same way as on the mainnet. So any asset on Ethereum can be bridged to the xDai chain and used there, with a fraction of the fees, and faster confirmation times (5s per block).
3/ xDai is not the only L2 side chain solution on Ethereum, but it is crazy how much adoption it has been getting lately and how undervalued their $STAKE token is compared to other L2 sidechain solutions
$MATIC $854M
$OMG $925M
$STAKE at only $150M
Read 19 tweets
18 Feb
1/ $RGT, rari.capital (@RariCapital). This is one most of you already know, but there is so much happening and so much great innovation coming from these guys (Fuse + Tanks + RSS coming in a few weeks…) that I thought it deserved a proper review
2/ @RariCapital is a yield aggregator allowing users to earn the best yield on their crypto within different risk appetites. They currently offer 3 yield pools (2 stablecoin & 1 ETH pool), applying funds across DeFi protocols such as Compound, dYdX, Keeper, mStable, Aave, etc.
3/ But the point is that for Rari this is just the beginning. Their current product competes with existing yield aggregators (Yearn, Farm, Alpha...)l leveraging on the same available DeFi protocols (the Aave’s, Compounds, etc) to earn the best available yields.
Read 22 tweets
16 Feb
1/ $DFD, @defidollar, dusd.finance. This is a project that i've mentioned over the last few days and that I believe is massively undervalued (~$10M market cap) and deserves a lot more attention. Image
2/ @defidollar offers a risk-insured stablecoin layer for DeFi. It does this through $DUSD, a stablecoin backed by an index of stable coins and leveraging on DeFi building blocks to ensure a $1 peg is maintained even if one of the stablecoins in the index loses its peg.
3/ So let’s take it step by step. Supported stable coins (DAI, USDT, USDC, sUSD…) can be posted as collateral to mint $DUSD and are provided as liquidity for yield generating DeFi products (such as @CurveFinance, yearn or $AAVE). And here is where the interesting stuff begins… Image
Read 21 tweets
14 Feb
1/ Here is another potential game-changing project that I am very bullish on: $BONDLY / bondly.finance (@BondlyFinance).
There is A LOT to say about $BONDLY, and each part of its offering (OTC swaps, DEX, NFT Launchpad, ecommerce gateways) could be a thread of its own!
2/ But the best way to summarise it would be to say that $BONDLY aims to address a simple but major issue, which is that OTC selling / trading of digital goods (crypto, NFTs, gaming items, social media accounts…), has always needed a trusted 3rd party to act as an intermediary.
3/ This 3rd party can range from being a helpful admin of a coin’s TG group, to the pro crypto OTC desks. But they all have 2 things in common: 1) you need to trust them and 2) they ALWAYS take a meaty fee.
Read 22 tweets

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