QuickSwap Expedited Governance Discussion & Vote: Should We Build A Liquidity Rebalancing/Arb Tool for the DEX

TL; DR:

  • QuickSwap wants to increase revenue for the QuickSwap Foundation and QUICK stakers
  • We would like to build a liquidity rebalancing/arbitrage tool
  • If the community votes in favor of this proposal, we will share the revenue generated from the tool with QUICK stakers
  • 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 governance discussion will begin approximately 24 hours before the vote and run alongside the vote for its duration
  • 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 team and community: https://www.reddit.com/r/QuickSwap/comments/z312xl/quickswap_expedited_governance_discussion_vote/

Goal

Will:

  • Offer better trades
  • May slightly increase DEX volume
  • Stop predatory MEV bots
  • Capture profit for the DEX and QUICK stakers

Will not:

  • Impact users in any way
  • Negatively affect volume or liquidity

How would the profit sharing work?

  • 20% Contracted builders (ie the protocol that built this technology)
  • 20% dQuick holders
  • 20% POL (protocol owned liquidity) QUICK token pairs mostly
  • 40% QuickSwap Foundation, which we would use to hire more developers, strengthen our team, and build a strong treasury

Transparency

Voting Eligibility

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

  • 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 New QUICK into the Dragon’s Lair and are now holding dQUICK in its place while you accumulate more New QUICK.
  • 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’s V3 and have staked your LP, so you’re earning trading fees and dQUICK rewards. Select pairs include:
  • QUICK — USDC
  • QUICK — ETH
  • QUICK — MATIC

You are not eligible to vote if:

  • You hold Old QUICK
  • You hold New QUICK on a centralized exchange wallet to which you do not hold the private keys
  • You hold 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 on Thursday, November 24th
  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 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

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