Introducing DragonFi: Your One-Stop Shop for DeFi on Polygon
Update: We’ve come a long way since we presented this roadmap a few months ago (today is 11/1/2022). We always said the timeline was tentative and priorities may shift depending on the market’s demand and developers’ capacity. So where are we at 4 months after releasing this roadmap? Read the sections below to find out.
Presenting — at long last — QuickSwap’s tentative roadmap. The world of DeFi moves fast, but lately, dragons are outpacing it. Today, we’re presenting to you not only a tentative roadmap, but also declaring our intent to build out QuickSwap’s DragonFi Ecosystem as a one-stop shop for DeFi on Polygon — a place where Polygon users come to trade, lend and borrow funds, play games, and so much more!
- QuickSwap intends to build out the DragonFi Ecosystem and become Polygon’s one-stop DeFi Shop
- QuickSwap’s tentative roadmap reveals several new features the DEX plans to roll out in the coming months
- Please note that this roadmap is subject to change at any time without prior notice. While we’ve attempted to keep it in chronological order, it’s possible that some implementations will happen before others
- QuickSwap is a decentralized, community-governed protocol, so everything on this roadmap is subject to a governance vote before implementation
- Many of the features included in DragonFi will bring more revenue to QUICK holders in the Dragon’s Lair and The QuickSwap Foundation. The longer people play and interact on the website, the more value they’ll receive and the more revenue the QuickSwap DragonFi Ecosystem will produce for the community!
- To learn more about QuickSwap’s upcoming plans, join the team for a live AMA on Twitter Spaces on Wednesday, June 29th at 5pm PST.
Dragons and dragon enthusiasts, today we present our plans for the DragonFi ecosystem. While we don’t want to give away everything we have in store for the year ahead of us, we thought it was about time we shared some of our plans so you’ll know what to look forward to. Please remember that this roadmap is only a tentative guide. Depending on what the market requires, we may change plans without prior notice. Additionally, because we are a community-governed DEX, all of these features must be approved by QUICK holders before we can implement them.
Items under this heading are already underway and we expect to implement them in the coming weeks. In fact, we’ve even started the governance discussions for some of them.
Moving the Dragon’s Lair to New QUICK ✅
In March of this year, QuickSwap’s community voted for a 1:1000 token split to make QUICK more appealing. In May, we started the process of splitting the token by enabling conversion from Old QUICK to New QUICK. Shortly thereafter, we added new syrup pools in which users must deposit New QUICK to earn the rewards tokens. We’ve also begun the process of rewarding New QUICK pairs with liquidity mining rewards.
Update: On October 19th, we converted the Dragon’s Lair from Old QUICK to New QUICK. We also began paying liquidity mining rewards in New dQUICK.
Completing the New UI (SoonSwap no more) ✅
Getting our new UI launched on our primary site is our utmost priority. Expect implementation within the next few days.
Update: On July 11th, we launched our new UI on our main URL.
V3 Licensing ✅
On Monday, June 20th, we began the governance discussion about acquiring the license for a V3 model, which we believe will be the biggest upgrade in QuickSwap’s history. Read more about how acquiring a V3 license will help QuickSwap increase volume and distribute capital more efficiently within the Polygon ecosystem here.
Update: The vote concluded on June 29th, and we announced our acquisition of an exclusive license to operate Algebra’s superb V3 concentrated liquidity model on Polygon and Polygon-enabled chains. We launched our V3 on mainnet on September 12th.
Isolated Lending & Borrowing Market ✅ ⚠️
On Monday, June 20th, we also began the governance discussion about the possibility of introducing an isolated lending and borrowing market. A place where you can lend your assets for yield, borrow against your assets to leverage them or take a loan without selling your assets or giving up the yield you’re already generating. One of the most interesting features here is that it will increase TVL by making TVL on QuickSwap more useful. For example, you can borrow against your liquidity positions to pay for expenses instead of selling and creating a taxable event (borrow responsibly!). Read more about that here.
Update: The vote concluded on June 30th, and we launched Market xyz’s isolated lending and borrowing market on October 9th. Unfortunately, due to a vulnerability in the Curve Oracle, which market xyz was using to monitor the markets, $220k was exploited from one of the pools. No user funds were compromised, but we did close down the markets on October 12th.
Featured Advertisements ✅
Support the Polygon ecosystem while also increasing revenue to the Dragon’s Lair and the QuickSwap Foundation so we can continue to build even more amazing features for the community.
Update: On August 1st, our community voted for QuickSwap to feature banner ads. We implemented those ads on September 22nd. For details on how you can advertise on QuickSwap, click here.
Syrup Educational Materials
This feature will enable users to learn more about each syrup pool without needing to leave our site. This is a great upgrade for projects that want to participate in Syrup pools so that they have an opportunity to teach our amazing community about their protocols.
Leverage Farming ❌
Utilize this interesting and unique tool to maximize the LP assets you believe in, as well as depositing single-sided pool positions! (Always use leverage responsibly!)
Update: We’ve decided against implementing this feature for the time being. We will still implement this in the future, but we need V3 LP manager tools first. We will keep you updated on the progress.
This feature will allow users to conduct their own liquidity bootstrapping pools (LBP) natively on QuickSwap. It will enable a fair method for launching tokens, and will allow protocols to incentivize liquidity provision without the need to ask permission from QuickSwap. Think permissionless liquidity farming!
Update: On July 15th, our community voted unanimously for this feature. Unfortunately, implementing it hasn’t been as simple as we thought it would be. Our development team is still working on this.
Lossless Weekly Raffle
A fun decentralized, gamified crypto saving mechanism.
Save money and have a chance to win every week with no loss.
A decentralized leverage platform built on QuickSwap with a full range of trading tools to chart away to your heart’s content.
No derivatives, fully settled on-chain with 100% underlying collateral!
Update: We believe this will be a huge source of revenue both for QUICK stakers in the Dragon’s Lair and for the QuickSwap Foundation. This will likely be our next governance discussion and vote.
While we’ve begun the discussion about acquiring a V3 license, we won’t be able to implement our V3 until/unless the governance vote passes, and the audits are complete. We anticipate that will be sometime in Q3 of this year.
Update: We launched our V3 on mainnet on September 12th.
Depending on capacity, these features may be added in Q3 or Q4 of 2022.
To become the central community point of Polygon’s ecosystem for gaming/gamefi. We will have a section of the website dedicated to Polygon games. This will make QuickSwap’s website the place to hang, where you can do more than just DeFi.
Update: On October 2nd, our community voted to feature a gaming hub powered by VersaGames. We celebrated the launch of the hub two weeks later on October 14th. Learn more here.
QuickSwap goes multichain✅
QuickSwap has always prided itself on being a Polygon-native, Polygon-focused DEX. Going multichain won’t change that! Because Polygon itself is branching out into new chains, QuickSwap will branch out with it. We would of course conduct a governance vote before making any final decisions.
Update: Going multichain is no easy task. It requires a mass of power. Nonetheless, QuickSwap officially went multichain on August 18th when we launched our V3 on Dogechain. We also became the first DEX to launch on Polygon’s zk-EVM test net in early October. Deploying our DEX on additional chains will require governance votes. You can expect more of them in the future.
Enhanced DeFi analytics
Some alpha of things to come, we can’t share it all though ;)
- New dashboards
- New charts/charting tools
- New analytics dashboards
LP management tools:
- A host of tools to help you maximize your LP gains and make the best choices for your strategy
We can’t say more, but the surprise will be worth the wait!
These features will be added in the more distant — but still foreseeable — future.
Introducing a veModel would bring QuickSwap one step closer to being a full DAO. This would give QuickSwap’s community complete control of our treasury.
A place where users can buy, sell, and trade NFTs.
Together, these implementations will form a synergistic ecosystem. It’s a place where users can come to trade, play games, lend and borrow against their assets and LP positions, and more — all without ever leaving QuickSwap’s UI.
There’s much more on the horizon for QuickSwap. Stay tuned to all of our social media channels for the latest updates, and join QuickSwap’s team for a Twitter Spaces about all of our upcoming plans on Wednesday, June 29th at 5 PM PST.