QuickSwap is an altcoin that has recently experienced an impressive price increase and as a result, was crowned as the largest gainer on a popular cryptocurrency exchange platform. According to CoinMarketCap, the recent 56% increase has amplified QuickSwap’s market cap to $132 million with 24hr volumes at approximately $329 million. Crypto.com statistics and data have also seen QuickSwap rise to the top of its gainers’ league board.
QuickSwap is a Decentralised Exchange (DEX) developed to mitigate the network fees of other similar services based on the Ethereum Network. QuickSwap was launched in October 2020 as a fork to Uniswap, a DEX on the Ethereum network. The token QUICK powers the DEX, QuickSwap, to provide a faster and more affordable DEX service within the Ethereum network. Investors that buy QuickSwap can use their tokens to participate in staking pools as well as engage in the proof-of-stake based governance protocol. QuickSwap is also the major DEX that was initially build on the Polygon (MATIC) network. The QuickSwap DEX was developed on the Polygon layer-2 scaling solution to mitigate the high fees associated with the Ethereum network for similar services.
The value boost comes shortly after the StrongNode announcement that mentioned their Syrup Farm will soon go live on the QuickSwap DEX. The Syrup will enable users to stake dQuick tokens in the Dragon Syrup pool to earn $SNE. Reportedly, the APR for the Syrup pool currently ranges between 20-30%. Other altcoins are also functional staking options for the platform these coins are set to include Polygon (MATIC), Telcoin (TEL), GAMEE and more.
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