- QuickSwap has expanded to Ethereum.
- The project promises to revolutionize leverage trading and swaps on the network.
- At the heart of QuickSwap’s deployments is aggregated liquidity.
Over the past year, leading Polygon DeFi hub QuickSwap has been on an expansion spree and shows no signs of slowing down. After expanding its frontiers to Cosmos and Flare, the project has now set up shop on the Ethereum Layer 1 chain, promising to tackle several challenges associated with engaging in DeFi activity on the network.
QuickSwap Goes Live on Ethereum
Over a month of anticipation following the initial teaser, QuickSwap has expanded to Ethereum.
Seeking to attract security-focused and OG DeFi users, on Monday, October 21, the project announced that it had launched its leading decentralized exchange (DEX) platform QuickPerps:Falkor, and newly launched liquidity hub QuickSwap Liquidity Hub on the network.
So, what does QuickSwap bring to Ethereum?
“The Best of Both Worlds”
QuickSwap aims to offer DeFi users on Ethereum “the best of both worlds.” Its deployed platforms promise to combine the best possible on-chain trading 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.
The assertions come as QuickPerps: Falkor promises to tackle speed and high gas fee concerns faced by users on the base layer with its low latency and gasless trading model, which is made possible by leveraging Orderly Network’s liquidity layer.
At the same time, beyond leverage trading, QuickSwap promises to tackle these same speed and cost concerns for basic token swaps as the project’s newly launched liquidity hub is set to serve as a swap aggregator. As explained by the team, the liquidity hub will offer reduced slippage and minimal fees by leveraging infrastructure from Orbs Network, which aggregates liquidity from external sources to optimize on-chain trading.
On the Flipside
- According to Defi Llama data, QuickPerps’ TVL has been in a decline since July 2023, dropping from over $10 million to about $732,000 at the time of writing.
- QuickSwap Liquidity Hub has yet to be battle-tested.
Why This Matters
Ethereum’s DeFi limitations have led to an outflow of volume to Layer 2 chains and Layer 1 competitors like Solana, as users are forced to choose between user experience and security. Projects like QuickSwap promise to change this narrative.
Read this for more on QuickSwap:
Justin Sun Shouts Out QuickSwap as It Launches Gasless Exchange
See why a short squeeze may be on the horizon for Ethereum:
Why Ethereum Short Sellers Risk Getting Squeezed Out: CryptoQuant
