TL: DR;
- One of the major driving factors in the massive growth of DeFi in the last few years has been the rise of the automated market maker (AMM) model, which has enabled the whole ecosystem to thrive.
- However, this led to the rise in the gas fees on Ethereum, which led to the rise in popularity of Polygon, formerly known as the Matic Network. Polygon hosts a variety of popular blockchain projects, one of which is QuickSwap.
- This article covers an in-depth study of QuickSwap in ways it coincides with and differs from ZeroSwap.
- While both these protocols are strengthening the DeFi ecosystem to the core, there are some key differences, and you’re about to find out!
QuickSwap- A Quick Introduction
In the simplest words, QuickSwap is a next-generation layer-2 decentralized exchange (DEX) and automated market maker (AMM). Being hosted on Polygon, QuickSwap offers faster settlements than other protocols, with much lower fees than Ethereum.
To dig deeper, QuickSwap is nothing but a set of smart contracts that enables crypto users to submit buy or sell orders for cryptocurrencies in a more decentralized manner, i.e., without signing up or providing any personal information.
ZeroSwap v/s QuickSwap
- To start with, ZeroSwap is a Multi-Chain Dex Aggregator which supports major chains like Ethereum, Binance Smart Chain, and Polygon. In contrast, QuickSwap is layer-2 DEX, and an automated market maker (AMM) hosted on Polygon Chain.
With the integration of the Market-making suite, ZeroSwap Dex will be aggregating liquidity across multi-chains via leading AMMs. For instance, ZeroSwap will be integrated with Quick Swap for Automated Market Making for Polygon Chain.
- Even though QuickSwap offers faster and cheaper mediums for swapping tokens and yield farming due to its presence on the Matic Network, ZeroSwap offers faster, zero-fee, and gasless transactions on multiple blockchains.
- QuickSwap offers a plasma bridge to its users to transfer assets from Ethereum to the Matic Network when it comes to yield farming. On the other hand, ZeroSwap has acquired DeFi Wizard, enabling ZeroSwap to create its own dashboard for LP Staking rewards. Additionally, ZeroSwap has its own BI-Directional bridge, enabling token holders to move on multiple blockchains — ETH<>BSC, ETH<>Polygon as the DEX commends ZeroSwap aims to create a universal Bi-Directional Bridge for tokens that are accessible on leading AMMs.
- DeFi users can earn a passive income with the QUICK token by becoming a liquidity provider on QuickSwap. This will enable the users to receive LP tokens and a percentage of transaction fees. ZeroSwap has its own staking module where $ZEE holders can Stake tokens, earn rewards and participate in IDOs on ZeeDo. In addition, holders can provide liquidity for ZEE on chains like — Ethereum, BSC, and Polygon.
More about ZeroSwap and what’s coming next!
A pricing mechanism for transaction fee mining will come into play when our next protocol is launched. On the first day of the launch, we will bootstrap the gas from our side, and thereafter whenever there is a trade where $ZEE tokens are generated, they will be kept in reserve and will be used to fund the gas fees.
With our mainnet, we are focusing more on integrating EVM-compatible blockchains before we start the mobile development so that we first have more chains integrated. Also, we are working very closely on building the mechanisms for ZeeDO 2.0, Staking 2.0, and revamping the UI for more effortless navigation.
We will have multichain farms on DeFi Wizard, where ZEE and DeFi Wizard tokens will be closely compiled as we advance.
About ZeroSwap and ZeeDO:
ZeroSwap is a multi-chain compatible decentralized exchange aggregator focused on making zero-fee transactions possible. We aim to make on-chain trading simple and easy by providing Ethereum, Binance Smart Chain, Polygon, and DEXes access under one roof. One of the core utilities of ZEE is to reduce friction in fundraising using digital assets. To solve that, we have built a Dex Offering Platform Called — ZeeDO.
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