QuickSwap Governance Proposal: Should We Move Forward with a V3 ‘Concentrated Liquidity’ Model?

TL; DR:

  • Earlier this week, we opened a discussion forum asking our community if QuickSwap should move forward with the acquisition of a license for a V3 ‘concentrated liquidity’ protocol.
  • We believe that acquiring a V3 model will help QuickSwap regain volume dominance among Polygon’s many DEXs and provide a more efficient trading environment for Polygon’s users.
  • After a few days, most of the community seems to be on board with the proposal, recognizing that the acquisition of a V3 would be the biggest upgrade in QuickSwap’s history.
  • We need a maximum of $350,000 from the treasury to pay for audits to ensure the protocol’s safety.
  • We are now moving to the next phase: a governance vote.
  • The snapshot for the vote will take place on Friday, June 24th.
  • The vote will begin immediately after the snapshot and will run until Tuesday, June 28th.
  • If the vote passes, we anticipate implementing the V3 in Q3 of this year (estimate).
  • We have a simultaneous governance discussion and vote going on about implementing an isolated lending and borrowing market. QUICK holders can participate in both governance votes.
  • Details about the proposal, voting eligibility, and how to participate in QuickSwap’s upcoming governance vote follow.

Is a V3 better than V2? That’s not the question

Voting Eligibility

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

  • You hold Old QUICK in a MetaMask Wallet or another Polygon-enabled wallet to which you control the private keys. Please note: To qualify, your Old QUICK must be held on the Polygon Network and not on Ethereum, BSC, or any other chain.
  • 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 Old QUICK into the Dragon’s Lair and are now holding dQUICK in its place while you accumulate more Old QUICK.
  • You deposited your Old QUICK into a Dragon’s Syrup Pool and are farming other tokens with it.
  • 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 and have staked your LP so you’re earning trading fees and dQUICK rewards. Select pairs include:
  • New QUICK — USDC
  • New QUICK — ETH

You are not eligible to vote if:

  • You hold Old or New QUICK on a centralized exchange wallet (such as Binance, Coinbase, Crypto.com, etc) to which you do not hold the private keys.
  • You hold Old or 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 dQUICK in a vault outside of QuickSwap to lend or borrow.

Timeline

How to participate in the vote

  1. Visit https://snapshot.org/#/quickvote.eth after the snapshot on Friday, June 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 Old QUICK, 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

Which way to vote?

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