Not so long ago, on June 28th, 2022, the whole historical event took place: QuickSwap and Algebra decided to go together in order to change the DeFi sphere as you knew it. The concentrated liquidity technology will be implemented to QuickSwap as the most significant upgrade in the platform’s history, uplifting it from the V2 to V3. What’s the role of Algebra in it? The most important! Our development team is behind the V3 license they’ll get, meaning that we’ll transform the technologies behind QuickSwap for your pleasure. We are thrilled about that news, and hope you are excited, too! Let’s get to the main points of the event in this very article.
What is Going to be Different?
Firstly, the Polygon Network will be replenished with the brand-new Concentrated Liquidity DEX, known as QuickSwap V3. We believe that this will strongly affect the whole DeFi space in the best way possible, especially when it comes to the Polygon Network.
Secondly, Algebra will keep evolving in other directions. We are preparing a major release for this Autumn, and it will blow your mind. Read on for more details.
Thirdly, our liquidity will be transferred to QuickSwap to make it easier for you to take advantage of this integration.
Last, but not the least: we and QuickSwap will keep evolving together! Consider it as a truly long-term partnership, aimed at the most excellent results. We already have some great plans ahead — keep an eye out on our updates!
What Are the Benefits for Us?
So, how will we benefit once the integration is over? Let’s see.
- We’ll have 1.5% of all trading fees collected from QuickSwap’s V3, V4, and any other Algebra-built implementations. In other words, we’ll be receiving 15% of the dev-fees, acquired from all transactions on QuickSwap.
- We’ll receive a great place in QuickSwap’s well-developed ecosystem, having access to QuickSwap’s and LDA’s extensive network of industry professionals.
- The assistance with marketing, business development, and PR materials will be provided, too.
- Lastly, if QuickSwap decides to develop their platform on the so-called Polygon subchains, future Polygon-enabled chains, using our technologies, we will also get part of all fees obtained with the new project. If we chose to increase the protocol fee by more than 10% (which would require a governance vote), Algebra and the QuickSwap Foundation will share the increase in a 15/85 ratio outside of the share given back to the QuickSwap community.
What does the first part mean for our community?
Most of the QuickSwap fees from the use of Algebra will be sent to the pool for distribution to our stakers.
Therefore, a new staking program with a mandatory token locking will be launched in September. The new program will be different from the one we have at the moment. The users eligible for staking will be limited: in order to become a participant of the loyalty program, users will have to follow several steps and check that the conditions for participation are met. And that is the new token utility, which will positively affect the Algebra statistics, as well as add up some funds to your e-wallets. Can you imagine the high volumes & TVLs in the QuickSwap’s pools combined with our break-through technologies? That’ll be terrific! We’ll share more information about the release a little later along with the new article.
This way, it’s you, the early supporters of the Algebra project, who’ll get the most out of this partnership. Thank you for your loyalty!
What Does QuickSwap Get?
In exchange for access to QuickSwap’s extensive network and large user base, QuickSwap will receive:
- The concentrated liquidity technology necessary to get ahead in the fast-paced world of DeFi
- An exclusive license to utilize Algebra’s V3 software on Polygon and all future Polygon-enabled chains
- An exclusive license to utilize any V4 software that Algebra may produce on Polygon and future Polygon-enabled chains
What Does Polygon Get?
- The combined power of QuickSwap’s high TVL and Algebra’s superb technology throughout all Polygon ecosystems — present and future
- More efficiently distributed capital within Polygon
- Better liquidity and access to dynamic fees that fluctuate based on volatility for all of Polygon’s DeFi users
- A more efficient Polygon-native and Polygon-focused DEX, which will become the DeFi hub on Polygon
What’s Next?
Once the Concentrated Liquidity technology of Algebra is integrated, the QuickSwap’s UI is updated, and their aggregator is finished, the platform will launch their V3 on dev net for experimentation. The tests will take place with the participation of ordinary users, who are willing to be the first ones to experience the concentrated liquidity model integrated into QuickSwap! Who knows, maybe you’ll be the one of those lucky ones? Stay updated with the QuickSwap’s socials to not miss their announcements.
Once the QuickSwap representatives are satisfied with the testing, they will launch the V3 on their main UI. So, we expect to have QuickSwap V3 fully implemented sometime in Q3 of this year.
As the release of QuickSwap V3 approaches, we will reveal further plans for Algebra, that’s why we would strongly recommend you to look over our socials so as not to miss more details and news regarding the integration!
These are the main highlights of the Algebra x QuickSwap partnership. With this integration, we hope to renovate the DeFi world, provide the best conditions for our community, and spread a word about the concentrated liquidity mechanics along with the concept of dynamic fees, which made Algebra so special. Here starts the new exciting chapter of the concentrated liquidity technology. Join us in this journey to see even more exciting opportunities in the future!
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