Quickswap recently broke through ATH of $815mm liquidity (May 20), $812mm daily volume (May 19) and 460k daily transactions (May 19) and has liquidity in 3,397 pairs. info.quickswap.exchange
Hello I’m a Quickswap community member, I fully support this proposal.
dQuick is receiving 0.04% of all the swaps happening on Quickswap. The current yield on this asset alone is hovering around 20-50% APR (past 7 days >50%) with over 107,000 Quick, nearly 50% of circ supply) staked in the Dragon’s Lair making it an ideal productive asset as collateral.
A Certik audit is stated by QuickSwap to be underway.
Benefits for Aave: Aave would be the first platform to support dQuick deposit; a yield bearing asset with $90mm currently staked.
Risk Mitigation: Quickswap is a Uniswap fork. However a Certik audit is underway for double assurance. To date Quickswap, and the in particular the Dragon’s Lair have not been exploited.
There have been issues with the info page lagging due to the volume of transactions. A temporary fix has been installed and the info page is back up-to-date with the Polygon blocks. A longer term solution is currently planned.
The Quickswap founders are Nick Mudge and Sameep Singhania. They are advised by Lunar Digital Assets and Polygon. Quick tokenomics can be found here: Quick Tokenomics. TLDR: 96.75% to be distributed to the community. There are no admin keys, no upgradeable contracts and the wallet is multi-sig with Nick, Sameep, LDA and Polygon as signators.
The Risk team will evaluate correctly. Sorry I have no experience with Aave risk ratings. I propose that in order to limit risk, that dQuick be initially allowed by deposited as collateral before being allowed to be borrowed.
Thanks for reading and I look forward to reading your replies.