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QuickSwap's native token is QUICK, helping power the DragonFi ecosystem. It's use cases are governance (for decentralised community voting) & staking in the Dragon's Lair, which are only available to New QUICK token holders - the existing Old QUICK token does not have any utility but can seamlessly be converted to New QUICK via QuickSwap's converter.
- Total Supply: 1B
- Current Circulating Supply: ~607M (60.7%)
QUICK is a fair launch, community-governed project. There was no seed round, no private round, no pre-sale, and no public sale (ICO/IDO/IEO) - 96.75% of the total supply was reserved for the QuickSwap community.
90% of QUICK tokens either already have been or will be distributed through a liquidity mining rewards program.
To motivate new projects and communities to come out to Layer 2 and try Polygon, QuickSwap provides incentivised trading pools. Those who provide liquidity for an incentivised trading pool are rewarded with QUICK tokens in addition to a percentage of the fees generated from swaps.
QUICK mining rewards will run for another 3.5 years (4 years total). Gradually, the token emissions will slow down with less being distributed as years pass. This encourages early adoption while also incentivising the community’s continued growth over time.
QuickSwap's treasury holds the majority of the funds that will pay out liquidity mining rewards for the next 3.5 years. This wallet is equipped with multisig, and it requires 3 out of 4 signatures from Nick Mudge, Sameep Singhania, Roc Zacharias (LDA), and Sandeep Nailwal (Matic) - this is to increase security and to eliminate the chance of a future rug pull.