QuickSwap Governance Discussion: Should the QuickSwap DEX Enable dTWAP Trading & Limit Orders?
Over the past few months, QuickSwap has made major design overhauls and upgrades to optimize the swap UI. The dragon community has responded positively to these changes, as they have significantly improved the trading experience on the QuickSwap DEX.
Beyond just the DEX’s UX, QuickSwap has been working on adding more advanced DeFi trading features to stay ahead of the curve and continue to provide traders with the features they want. In 2023 alone, a number of new features have already been implemented — most prominently, cross-chain swaps — and a number of others are in the works and on the way.
To push forward with the newest high-impact initiative, QuickSwap is opening a governance forum discussion to present the prospective integration of Orbs Network’s infrastructure to the community. Such an integration will enable dTWAP (decentralized TWAP) trading and limit orders on the QuickSwap DEX, thereby providing traders with more flexibility and control over their token swaps.
Read on for more details!
- In order to become a more sophisticated, feature-complete DEX, QuickSwap is looking to implement additional DeFi features for more advanced traders.
- It’s up to the QuickSwap community to discuss and vote on whether QuickSwap should enable dTWAP trading and limit orders on QuickSwap through an integration with Orbs Network.
- As always, dragon community members will have an opportunity to voice their opinions in a community discussion before a formal governance vote kicks off
- The governance discussion will begin immediately and run until 8:00am EST, May 11.
- Once the QuickSwap dragons align as a community, the snapshot will take place at 8:00am EST, May 11, 2023. The vote will begin immediately after the snapshot and will run until 8:00am EST, May 13, 2023.
- After you’ve read this entire blog post, make sure to visit QuickSwap’s Reddit discussion forum to discuss the potential integration further with your fellow community members: https://www.reddit.com/r/QuickSwap/comments/13cns92/quickswap_governance_discussion_should_the/
What Are TWAP Trades?
TWAP (Time-Weighted Average Price) is a trading strategy that reduces a trade’s or token swap’s market impact by dividing it into smaller trades and executing them at regular intervals over a specified time period.
Therefore, TWAP trading strategies allow for reduced price impact and automated dollar-cost averaging when executing trades. Not only do TWAP trades improve efficiency, but they also enhance a user’s overall decentralized trading experience.
For complete details, check out Orbs Network’s complete introductory blog post, dTWAP for DEXs.
How Does Orbs Network Fit In?
Orbs Network is an open, decentralized, and public blockchain infrastructure supported by a secure network of permissionless validators via PoS consensus. Orbs’ infrastructure is unique in that it enables dTWAP trades and limit orders on DEXs.
By integrating Orbs’ technology, users on QuickSwap will be able to leverage TWAP trading and execute related limit orders. The results: dragons across the world will be able to implement more sophisticated trading strategies and manage risk more effectively, all while remaining on the QuickSwap DEX.
QuickSwap plans to work closely with the Orbs Network team to ensure a smooth integration process, should the dragon community agree to move forward with this proposal.
Integration & Fee Details
For the proposed integration, Orbs Network will build a new dTWAP trading and limit order feature that will be powered entirely by QuickSwap’s V3/V2 DEX. All standard limit order features will continue to be executed on QuickSwap. If the vote passes, immediately following integration no new fees will be applied to TWAP and related limit order trades.
In the future, QuickSwap may implement fees. If such fees are introduced, any and all fees will be allocated to funding future growth and building a treasury.
Lots to look forward to, dragons!
How to Vote
- Visit https://snapshot.org/#/quickvote.eth after the snapshot at 8:00am EST, May 11, 2023
- Connect your MetaMask Wallet (or other Polygon-compatible, self-custodial wallet)
- Make sure you’re connected to the Polygon Network or 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
3. Select the open proposal titled, “Should the QuickSwap DEX Enable dTWAP Trading & Limit Orders?”
4. Click on the option you prefer
5. Confirm your selection in your wallet
Join the Discussion
As always, QuickSwap community members are encouraged to participate in and contribute to QuickSwap governance discussions and proposals across all of QuickSwap’s online forums, especially on Reddit. As a Dragon, you are a valued community member and your opinion matters — but you have to participate in community voting procedures to make it count.
As always, critical decisions guiding QuickSwap’s strategic development will always be determined by way of decentralized governance. QuickSwap’s future is in your hands, so make your voice heard!
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