- QuickSwap has expanded to Ethereum.
- The project promises to revolutionize leveraged trading and swaps on the network.
- The core of QuickSwap deployments is liquidity aggregation.
Over the past year, QuickSwap, a leading Polygon DeFi hub, has been expanding and showing no signs of slowing down. After expanding its reach to Cosmos and Flare, the project has now set up shop on the Ethereum Layer 1 chain, promising to solve some of the challenges associated with engaging in DeFi activities on the network.
QuickSwap is launched on Ethereum
After waiting for over a month since the initial teaser, QuickSwap has expanded to Ethereum.
To attract security-focused OG DeFi users, on Monday, October 21, the project launched the leading decentralized exchange (DEX) platform QuickPerps:Falkor and announced a newly launched liquidity hub on the network, QuickSwap Liquidity Hub.
So what does QuickSwap bring to Ethereum?
“Best of both worlds”
QuickSwap aims to provide “the best of both worlds” to DeFi users on Ethereum. The deployed platform promises to combine the best on-chain transaction user experience with the network’s renowned security.
"Historically, the trade-off between the security of the Ethereum mainnet and user experience has been a significant hurdle for DeFi platforms. Simply put, QuickSwap's deployments offer Ethereum users the best of both worlds: the robust security of the base layer coupled with a seamless and optimized trading experience," the team asserted in a statement.
These claims come from QuickPerps. Falkor promises to solve the speed and high gas fee issues faced by base-tier users through a low-latency and gas-free transaction model made possible by leveraging the Orderly Network’s liquidity layer.
At the same time, QuickSwap promises to go beyond leveraged trading and solve the same speed and cost issues for native token swaps, as the project’s newly launched Liquidity Hub is set to act as a swap aggregator. According to the team, the Liquidity Hub will leverage Orbs Network’s infrastructure to pool liquidity from external sources and optimize on-chain transactions to reduce slippage and minimize fees.
On the flipside
- According to Defy Flame dataQuickPerps’ TVL has been declining since July 2023, dropping from over $10 million to around $732,000 at the time of this writing.
- QuickSwap Liquidity Hub is not yet battle tested.
Why This Matters
DeFi limitations on Ethereum have forced users to choose between user experience and security, resulting in volume leaking to layer 2 chains and layer 1 competitors like Solana. Projects like QuickSwap promise to change this narrative.
To learn more about QuickSwap, read:
Justin Sun called out QuickSwap as he launched a gasless exchange.
Find out why we expect a short squeeze in Ethereum.
Why Ethereum Short Sellers Risk Being Squeezed: CryptoQuant