QuickSwap Expedited Governance Discussion: Should QuickSwap Become a Dad & Launch our V3 on…

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TL; DR:

  • QuickSwap wants to capture some of the tremendous momentum that is growing on Dogechain — a new Polygon Edge chain
  • We would like to start the discussion about launching our V3 on Dogechain and turning QUICK into a dad with a new DogeDragon token that would be used to pay liquidity mining rewards on QuickSwap’s Dogechain extension
  • We believe that launching on Dogechain now will give QuickSwap the same first mover advantage we gained on Polygon and will help us protect the community with our trusted and audited DEX
  • We value your input, which is why we’re introducing this discussion before conducting a governance vote; however
  • We need to move quickly because time is of the essence. The discussion will run for 48 hours. The vote will begin 12 hours into the discussion and run for 36 hours
  • Please read carefully through this document before forming an opinion
  • Once you’ve read the full blog, visit our Reddit Discussion Forum to ask any questions and chat with the community and team: https://www.reddit.com/r/QuickSwap/comments/wpwitw/quickswap_expedited_governance_discussion_should/

So V3 is ready?

Why Dogechain?

  1. Dragons love dogs 🐲♥️ 🐶
  2. LDA — the same firm that incubated QuickSwap — is incubating Dogechain. The teams want to do their part to protect the community with a real, audited DEX (as opposed to those running on Dogechain now).
  3. Dogechain has gained significant ground in the few days since its launch:
  • 170k transactions on Dogechain DEXs in the last 24 hours compared to 139k on Ethereum DEXs and 295k on Polygon DEXs
  • Over 50k unique wallets were added in the last 4 days
  • Over 600 new projects launched in the last 4 days
  • Polygon, FRAX, and ANKR support
  • Exponentially growing volume that we can harness
  • Influencer support (Crypto Lark, Matt Wallace, ProTheDoge, etc.)

What’s this about another token?

  • 50% of DogeDragon’s supply (500 million) would be distributed to Dragon’s Lair stakers over the next 4 years
  • 40% (400 million) would go to liquidity providers for pairs on QuickSwap’s Dogechain extension, to be distributed for up to 4 years
  • 3% (30 thousand) would be reserved for The QuickSwap Foundation for the team’s development, growth, and expansion
  • 3% (30 thousand) would be reserved for LDA for use in marketing, PR, and business development
  • 2% (20 thousand) would go to Sameep Singhania — QuickSwap Co-Founder and Lead Developer
  • 2% (20 thousand) would go to Roc Zacarias — QuickSwap Co-Founder, CEO of Lunar Digital Assets, and Dogechain Contributor
  • 90% would be distributed to liquidity providers
  • 3.4% would go to Dragon’s Lair stakers
  • 3.4% would go to DogeDragon’s Lair stakers
  • 1.7% would go to the QuickSwap Foundation
  • 1.5% would go to Algebra’s developers (which they say they will distribute to ALGB stakers)

Speaking of liquidity mining rewards…

Why the rush?

So Should QUICK Become a Dad, or nah?

Voting Eligibility

You are eligible to vote if you meet any of the following criteria:

  • You hold Old QUICK in a MetaMask Wallet or another Polygon-enabled wallet to which you control the private keys. Please note: To qualify, your Old QUICK must be held on the Polygon Network and not on Ethereum, BSC, or any other chain.
  • You hold New QUICK in a MetaMask Wallet or another Polygon-enabled wallet to which you control the private keys. Please note: To qualify, your New QUICK must be held on the Polygon Network and not on Ethereum, BSC, or any other chain.
  • You deposited your Old QUICK into the Dragon’s Lair and are now holding dQUICK in its place while you accumulate more Old QUICK.
  • You deposited your Old QUICK into a Dragon’s Syrup Pool and are farming other tokens with it.
  • You deposited your New QUICK into a Dragon’s Syrup Pool and are farming other tokens with it.
  • You are providing liquidity for select New QUICK pairs on QuickSwap and have staked your LP, so you’re earning trading fees and dQUICK rewards. Select pairs include:
  • New QUICK — USDC
  • New QUICK — ETH
  • New QUICK — MATIC

You are not eligible to vote if:

  • You hold Old or New QUICK on a centralized exchange wallet (such as Binance, Coinbase, Crypto.com, etc.) to which you do not hold the private keys.
  • You hold Old or New QUICK in a self-custodial wallet (like MetaMask), but you keep that QUICK on Ethereum, BSC, or any network other than Polygon.
  • You are providing liquidity for a QUICK pair not listed above on QuickSwap or for any QUICK pair on another DEX. (To be clear: Only the QUICK you are using to LP for pairs not mentioned above will be excluded from the snapshot. If you also hold QUICK that you are not using to LP with, you will be eligible to vote with that).
  • You have deposited your QUICK or dQUICK in a vault outside QuickSwap to lend or borrow.

Timeline

How to vote

  1. Visit https://snapshot.org/#/quickvote.eth after the snapshot at 8 pm PDT on Tuesday, August 16th.
  2. Connect your MetaMask Wallet (or other Polygon-compatible, self-custodial wallet)
  • Make sure you’re connected to the Matic Mainnet
  • The combined weight of Old QUICK, New QUICK, and dQUICK in your wallet at the time of the snapshot will dictate the weight of your vote
  • $QUICK staked in select liquidity pools will also be counted in the weight of your vote
  • Launch QuickSwap V3 on Dogechain with a new token
  • Launch QuickSwap V3 on Dogechain without a new token
  • Don’t launch QuickSwap on Dogechain

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