Old QUICK vs. New QUICK: Everything You Need to Know About the Token Split

TL;DR

  • Currently, there are two QUICK tokens in circulation — Old QUICK and New QUICK
  • The transition will take time, and there is no deadline for converting QUICK
  • We have already converted liquidity mining rewards to only incentivize those who LP for New QUICK pairs
  • Old QUICK can still be used for staking in the Dragon’s Lair, but that will soon change
  • New QUICK can be used to stake in Dragon’s Syrup for alternative tokens
  • As of April 2022, QUICK token holders can convert Old QUICK to New QUICK
  • After you convert to New QUICK, you can’t ‘convert’ back, but you can ‘swap’ it back
  • New QUICK is not yet listed on CEXs, but we are in the process of getting it listed

FAQ

Why are there 2 QUICK Tokens?

What is Old QUICK?

What is New QUICK?

Why does Old QUICK still exist?

Is Old QUICK the same as New QUICK?

  • Providing liquidity
  • Yield farming
  • Governance
  • Staking
  • Participating in IDOs
  • Speculating

What can you do with Old QUICK?

  • Provide liquidity for pairs on QuickSwap and other DEXs to earn a portion of the trading fees
  • Vote on governance proposals
  • Lend or borrow against the value of their QUICK on outside platforms
  • Stake Old QUICK via the Dragon’s Lair to earn QUICK rewards
  • Participate in IDOs, ILOs, etc
  • Speculate

What can you do with New QUICK?

  • Provide liquidity for trading pairs on QuickSwap and other DEXs to earn a portion of the trading fees collected
  • LP for select New QUICK pairs on QuickSwap to earn a portion of the trading fees and liquidity mining rewards, which are currently paid in dQUICK, which is Old QUICK’s staked representative token
  • Vote on governance proposals
  • Stake New QUICK via Dragon’s Syrup Pools to earn rewards in other participating tokens
  • Participate in IDOs
  • Speculate

Should I hold Old QUICK or New QUICK? Which one is better?

  • If you want to stake your QUICK in the Dragon’s Lair to earn more QUICK, you should hold Old QUICK.
  • If you want to stake your QUICK in Syrup Pools to earn yield via other tokens, you should hold New QUICK.
  • If you want to provide liquidity for pairs to earn a portion of the trading fees plus a portion of select pairs’ liquidity mining rewards, you should hold New QUICK
  • If you want to trade QUICK on centralized exchanges or have CEXs hold your QUICK for you, you should hold Old QUICK
  • If you want to arbitrage Old QUICK and New QUICK to take advantage of price disparities in the market, you should hold both

Why don’t we switch directly to the New QUICK?

When will New QUICK be listed on CEXs?

When will I be able to stake New QUICK in the Dragon’s Lair?

  1. We pay liquidity mining rewards in dQUICK that is currently correlated to Old QUICK
  2. Many liquidity providers do not actively manage their LP positions
  3. All LPs, regardless of which pair(s) they LP for, will have to unstake their LP tokens, withdraw their positions, redeposit in the new pools, and restake their new LP tokens to start earning New dQUICK liquidity mining rewards
  4. We will also be encouraging LPs to redeploy their funds when we launch our V3, which we anticipate will be in Q3 of this year
  5. We think it probably makes sense to postpone the New Dragon’s Lair launch until we launch the V3 so that LPs will only have to go through this process one time

What happens with Old QUICK when there is New QUICK?

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