QuickSwap Governance Discussion: Should We Add a Build-a-Farm Feature Powered by Cryption Network?

TL; DR:

  • QuickSwap wants to allow protocols to build their own farms to incentivize LPs using any whitelisted token
  • We would like to start a discussion about the possibility of introducing Build-a-Farm, powered by Cryption Network (CNT)
  • There are many advantages to adding a Build-a-Farm Feature
  • If the community votes to add Build-a-Farm to QuickSwap, protocols will be able to fund their own LP rewards
  • Additionally, Build-a-Farm will be good for QUICK because it will allow us to lower emissions while making QuickSwap a more attractive place for protocols to host their own incentivized liquidity pools
  • The Dapp Factory, powered by Cryption Network, has experience building such platforms, has already begun building this feature and will be ready to launch it within weeks if the community votes in favor
  • The code for this feature is complete and has already been audited
  • We value your input, which is why we’re introducing this discussion before conducting a governance vote
  • We would like to move quickly and hopefully pass this proposal so that Cryption can finalize the details of the platform and launch it
  • Please read through this entire document carefully before forming an opinion
  • Once you’ve read through, visit our Reddit discussion forum to ask any questions and chat with the community: https://www.reddit.com/r/QuickSwap/comments/vtwlpe/governance_discussion_should_we_introduce/

What is Cryption Network?

What is Dapp Factory?

What is Build-a-Farm?

How would the Build-a-Farm feature work?

  • Any protocol would be able to manage their own liquidity mining rewards
  • Protocols would be able to reward their LP pair(s) with any whitelisted token
  • Only white-listed protocols would appear directly on QuickSwap (more on our vetting procedures for whitelisting below)
  • Protocols that are not white-listed would appear only on their own sites and Dapp Factory’s site
  • Using the Build-a-Farm feature would be 100% free for white-listed tokens
  • Non-whitelisted tokens would be subject to a $1250 fee, which would be paid directly to Dapp Factory

How to get whitelisted on QuickSwap (vetting procedures)

  1. An audit
  2. A minimum of $100k liquidity
  3. A minimum of $10k average daily trading volume

Weighing the Pros & Cons

What are the advantages of adding the Build-a-Farm feature?

  • Lowers QUICK/dQUICK emissions for LP mining rewards
  • Entices protocols to host their own incentivized liquidity pools on QuickSwap
  • Opens the door to further expansion opportunities including IDOs, presales, token vesting, staking services, POL/farming services, and more
  • Incentivizes protocols to hold value on our DEX because we’ll be providing tools to manage their LP positions
  • Increased user engagement
  • Brings QuickSwap one step closer to achieving our DragonFi goal of becoming a one-stop-shop for DeFi on Polygon
  • Increases QuickSwap’s TVL and volume as it generates more economic activity
  • A new tool for users and developers
  • A stronger connection with the veteran builders behind Cryption Network and Dapp Factory
  • No change to QuickSwap’s UI/UX for users who chose not to engage with the Build-a-Farm feature
  • No need for QuickSwap’s development team to build or maintain the Build-a-Farm feature because Dapp Factory will manage that

What is the potential downside?

  • Increased risk of volatility if an LP chooses to hold the white-listed asset(s) the project pays liquidity mining rewards in
  • Increased exposure to assets that may or may not succeed
  • Even though Dapp Factory has been extensively audited, the risk of smart contract failure will always exist. Please use with caution and only at your own risk

How would QuickSwap adding Build-a-Farm impact me?

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