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QUICKSWAP: Swift and scalable clone of uniswap, AMM on MATIC

15th January 2021, 8pm IST MATIC hosted QuickSwap on an AMA session to discuss the QuickSwap ecosystem,a faster and scalable . Venue: Matic telegram

Thanks MATIC, for giving us the opportunity of this AMA session with the amazing matic community.

Sameep: Hey,Sameep this side, co-founder of Ginete Technologies and QuickSwap, have been into blockchain space for more than 4 years now and since then he’s just developing stuff on blockchain. “I just love it”.

Jacob Nelson LDA: Sure! Thanks for hosting! Hi! I’m Jacoby. I’m on the LDA marketing team and currently the lead community mgr for QuickSwap. I love crypto and the options and potential it presents the world. I think it’s a big hope for all humanity and that modern tech can be used for good or bad — I’m in the space to do my part in pushing back against “the dark side”. 😉QuickSwap is a fork of Uniswap’s open source code with way cheaper and much faster transactions. It’s scalable because it’s on Matic. So basically it’s a better version of Uniswap, in terms of user experience and dragons. We also like to think we have a better plan for our token and its distribution. 🔥🐉

QuickSwap is AMM on Matic network and its a clone of UniswapV2. Its inherits wonderful AMM from Uniswap and low costs and fast transaction speed from Matic. So in all its a faster and cheaper version of Uniswap.

MATIC: Awesome stuff! We all love Quickswap at Matic, you’ve saved us so much money in fees. TBH I can’t use Uniswap any more after getting used to the speed on Quickswap. @coderdannn and @jesse of Ave, can you tell us about Aavegotchi?

Jesse/Avegotchi: @coderdannn and I are the founders of Pixelcraft Studios, the game development team creating Aavegotchi. Aavegotchis are on-chain collectible ghosts staked with Aavegotchi’s interest-generating a Tokens.

Coderdamn/Aavegotchi: But they are much more than collectibles…Aavegotchi compete for rewards by earning XP, leveling up, and increasing their rarity over time. Aavegotchi is governed by the Aavegotchi DAO and the native eco-governance token GHST. Aavegotchi is taking the best of the last few year’s innovations in DeFi and NFTs and combining them together for a completely new experience. We were originally planning to launch on Ethereum main net…but after January’s explosion in crypto and fees, our community voted to delay the launch and pivot to directly launching on Matic. So glad to meet everyone here!

MATIC: Awesome! This sounds absolutely exciting, DeFi + NFTs will definitely be the theme of 2021. There is a strong focus on growing communities with both your teams. I know Aavegotchi has an awesome Aagents program and QuickSwap is driven by the community. Can you tell us a little about the thinking within your teams and how you are empowering the community?

Jacob: Because of QuickSwap’s tokens being mostly reserved for the users of the platform, it’s in the best interest of those who use it to be involved. For the early phases of QuickSwap we have a marketing budget to help get things started. It’s not huge, as we didn’t raise any funds, so in time this will be depleted. However, we have the Dragon Stash (community treasury which is part of the total supply), which at some point in the future could be used for further community rewards.We recently started a Wizard of the Month Reward for those who help promote QS, either by helping out in the chat or with posts and memes on Twitter, or however they want to be creative with it. We’re also looking forward to seeing the community grow as we collaborate with other projects and invite them to get involved!If you have ideas and want to get involved in promoting QuickSwap, please reach out!

Jesse/Aavegotchi: People have naturally gotten excited about Aavegotchi since announcing the project late last summer.We’re so lucky to have such a fast growing and excited community.

coderdan/Aavegotchi: Yea, at this point everyone is just so excited to get their first Aavegotchi. …Just a few weeks from now. We’ve always made community building a priority because without a strong community, there’s no one to play the game with. We see the Matic fam is stronk!!!Looking forward to getting know everyone here more.

MATIC: Wow, loving the focus on community!You just know that when a community is so strong it’s gonna be a smashing success 😄@sameepsi and@Jacoby_T_Nelson_LDA,Can you tell us a bit more about QuickSwap and the different tokens supported on the platform?

Jacoby LDA: QuickSwap is awesome!Everyone who uses it is won over. The one thing we lack is a huge amount of liquidity. Liquidity begets liquidity. This goes hand in hand with Matic adoption. The more people using dApps on L2 the better we will do because people will naturally want to make easy swaps without the hassle of KYC. We meet this need well.So Matic can help QuickSwap and hopefully QuickSwap can help Matic. 🙂Uniswap built a product-market fit by decentralizing market-making, eliminating KYC, making a DEX that works. Now everyone is trying to build up on and out from that.We simply took the baton, jumped on a dragon and ran with it on the Matic Network.Here’s a screenshot of out top tokens and top token pairs:https://info.quickswap.exchange/home

Sameep: As already said QuickSwap is a better version Uniswap with low transaction cost and high speeds. QuickSwap practically supports every ERC20 token which is available on Matic. Though in our default list we support tokens like- ETH, MATIC, USDC, QUICK, UNI, DAI , COMP, WBTC, GHST etc.

MATIC: That’s huge!I’m sure it’s only a matter of time before the liquidity explodes, and we’ll cover why a little later 😉 Alright, @coderdannn @jesee can you tell us a bit more about Aavegotchi and the GHST Token?

Aavegotchi on MATIC:GHST

Jesse/Aavegotchi: Sure can,GHST provides the economic incentives to encourage greater participation in the Aavegotchi ecosystem.It’s an in-game currency and the DAO’s governance token. This helps align the respective goals of the AavegotchiDAO, GHST holders, and Aavegotchi holders.

coderdan/Aavegotchi: That’s right…players have to buy GHST and spend it in the process of summoning and training their Aavegotchis. A portion of GHST is transferred directly back to the DAO to continue funding the development of the ecosystem. For each purchase, 33% of the GHST spent is also burned foreverAnd 40% of the spent GHST is also distributed as rewards for wise governance in the DAO, and as rewards for engaging in rarity farming.

Jesse/Aavegotchi: Specifically, players can spend GHST do the following:

1. buy portals to summon aavegotchis

2. buy wearables to equip

3. buy REALM parcles for our upcoming metaverse

STake GHST to make FRENS points and farm NFTs. Vote on governance

coderdan/Aavegotchi: I’m pretty confident that we have some of the neatest tokenomics of any crypto projects : GHST is powered by a bonding curve, which means that it’s backed by a huge DAI reserve. We have tons of resources if you’d like to learn morehttps://wiki.aavegotchi.com/ghst is a good place to start.

MATIC: Incredible stuff! So apart from being the Primary In-Game currency, GHST powers the whole element of the Aavegotchi DAO!So it’s not just NFT + DeFi, you’re NFT + DeFi + DAOs 🚀. This is really a combination I’ve not seen in any project till now.

coderdan/Aavegotchi: Yes! Our bonding curve is governed by the AavegotchiDAO, specifically the GHST holders.And very soon, we’ll be announcing the launch of AavegotchiDAO V2, a DAO powered by Matic

Sure, L2 DAOs are a dream come true, so excited!

Learning never stops, and writing keeps the circle. Blockchain writer, crypto enthusiast.